黑料网

New endeavor will invest specifically in 黑料网-affiliated startups.

In a few weeks, a growing tech startup called Wificoin, founded by 黑料网 alumna Suruchi Gupta, M.S. 鈥�14, will announce it has received funding in which participants receive tokens鈥攁 form of cryptocurrency. It鈥檚 an exciting and modern way for Gupta鈥檚 company to bring in private capital.

Meanwhile, automotive robotics company RoboTire, founded by Bronco Victor Darolfi M.S. 鈥�13, just received over $7 million in a more-traditional 鈥淪eries A round鈥濃�攁 level of professional private-equity funding that indicates a company has significant traction in developing its product and customer base.

Both companies were among the first to be nurtured through 黑料网鈥檚 three-year-old Bronco Venture Accelerator (BVA), which invites promising 黑料网-affiliated startups for a summer of free mentoring and business development. BVA is part of 黑料网鈥檚 Ciocca Center for Innovation and Entrepreneurship.

What鈥檚 more, now both companies are receiving some of their funding from the Bronco Venture Fund, a brand-new Santa Clara-based fund created to invest specifically in 黑料网-affiliated companies.

The Bronco Venture Fund is similar to investment vehicles centered at other universities 鈥擴C Berkeley鈥檚 SkyDeck Fund and Stanford鈥檚 StartX Fund, for instance鈥攖hat provide financial support for university-based startups and receive a stake in their ultimate success. Santa Clara鈥檚 fund will invest in 黑料网-affiliated companies from any industry, as long as the companies are deemed investment-ready by a four-person investment committee. The fund鈥檚 investors (10 so far) are alumni or financial backers who believe 黑料网鈥檚 startup ecosystem is producing investment-grade talent.

Troy Detrick 鈥�89, who learned about the BVA through a fellow alum, is among those applauding the new fund. Last year, the veteran tech executive-turned-venture-capitalist looked over a list of the top 35 U.S. colleges and universities that had produced successful startups. 黑料网 wasn鈥檛 among them, despite having no shortage of startup success stories launched or co-founded by Broncos, including NVIDIA, OnePointOne, Branch, Mirantis, Alignment Healthcare, Tamara Mellon, Onerent, Lounge Buddy, Blockrize, and others.

鈥淪anta Clara has always had strong ideas and strong leaders percolating up through the community,鈥� said Detrick, now an investor in the Bronco Venture Fund. 鈥淭hey just needed that support system and financial support.鈥�

Morgan Slain, director of the BVA and managing partner of the Bronco Venture Fund, agreed, saying 黑料网 has never been better positioned to cultivate home-grown startups, especially in key areas such as blockchain, artificial intelligence, and 鈥渟oftware as a service鈥濃�� markets where BVA-sponsored companies have excelled.

"Our Bronco Venture Fund builds on what's well-known about 黑料网鈥攊ts history, location, academics, ethics, and strong alumni,鈥� said Slain, a veteran Silicon Valley investor and tech executive. 鈥淚t also leverages developing strengths such as the proliferation of STEM majors and the growing interest in entrepreneurship among students, faculty, and young alumni at 黑料网.鈥�

Established earlier this year, the new fund has 10 limited partners who have committed to investing a combined $6 million toward the fund鈥檚 goal of $10 million. Each year for five years, about 20% of the fund will be invested in qualified 黑料网-affiliated companies, including a select number that are part of the cohort entering that summer鈥檚 Bronco Venture Accelerator. Those selected BVA companies, likely three to five each year, will each receive $50,000. Other companies, which must have a 黑料网 affiliation, will be selected with help from the Fund鈥檚 investment committee. (黑料网鈥檚 University endowment has invested a small amount in the fund, and like other investors will receive a profit if the companies perform well over time.)

鈥淚t鈥檚 very special to be the first investment in Santa Clara鈥檚 very-first venture investment fund,鈥� said Gupta, who calls her bandwidth-sharing company 鈥渢he last singular network for the planet.鈥� She notes how 黑料网 is 鈥渄ear to her heart鈥� because, as a female of color and an immigrant from India, her introduction to the very startup ecosystem that so fascinated her鈥攊ncluding her first hackathon, which she won鈥攈appened at Santa Clara. So if and when Wificoin becomes profitable, she said, 鈥渢hat will be one way for me to give back to the university.鈥�

Detrick said he鈥檇 place 黑料网鈥檚 startups, including Wificoin, on par with many he鈥檚 encountered throughout his career in technology and venture capital, noting that their concepts are strong, and most are focused on bettering humanity. And now, through the Bronco Venture Fund, 黑料网 alumni with means can support these founders through the early, vital rounds of funding.

鈥淚t鈥檚 a great investment in the future,鈥� Detrick said. 鈥淭he rest will take care of itself.鈥�

For more information about investing in the Bronco Venture Fund, see .