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MIT’s grand experiment in high-tech startup investing has officially begun.
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If you think that too many VCs these days are playing it safe and only looking to back sure bets rather than moonshots and more ambitious ventures, take a look over at what's going on in Boston.
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A venture fund started by the Massachusetts Institute of Technology called The Engine has financed its first seven companies after raising $200m from investors.
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The MIT-powered investment fund and venture firm The Engine is up and running, with its first seven investments in startups ranging from aerospace to genetic engineering.
Companies
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A VC fund backed by MIT has raised $200m to support startup tech that can be a tough sell to investors — projects that traditional VC firms consider too risky.
People
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If you think that too many VCs these days are playing it safe and only looking to back sure bets rather than moonshots and more ambitious ventures, take a look over at what’s going on in Boston.
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The Engine named Katie Rae, a veteran tech innovator, entrepreneur, and investor, as its president and CEO and as managing partner of its first investment fund.
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“At MIT, it is our duty to bring transformative innovation to the world,” President Reif said at launch event for new enterprise.
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Read President L. Rafael Reif’s op-ed in the Boston Globe introducing The Engine.
