University of Michigan Board of Regents approved investment agreements for four potential investments under the State of Michigan Conflict of Interest statute from Michigan Investment in New Technology Startups, a venture capital fund co-managed by the university’s investment office and its Office of Technology Transfer. Regents’ approval of the investment agreements is required because executives of each firm are UM employees and have a financial interest because they are part owners of the company or members of the company's board of directors. Portfolio managers of the MINTS fund will make the decision about whether to move forward with each investment. Incorrect information was in the July 23 P&I Daily.
Correction: University of Michigan