University of Michigan, Ann Arbor, approved a commitment of up to $15 million to early-stage venture capital fund MTB Capital I, according to documents from its Feb. 15 board of regents meeting.
The board approved the commitment on behalf of the university's $18.7 billion long-term endowment pool.
MTB invests in "transformative early-stage companies with the potential to disrupt core sectors of the global economy," Geoffrey S. Chatas, the university's executive vice president and chief financial officer, said in his summary to the board.
"This commitment offers the long-term portfolio the opportunity to invest with a firm that has the potential to generate strong returns over time and invest in companies that may prove to be disruptive in their sectors," Chatas added.
UM had $4.9 billion, or 26% of its portfolio, allocated to venture capital, as of Dec. 31.
