The Presidential Daily Brief


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    University Endowments Start Betting on Startups

    Managing college endowments doesn’t have to be dull. Just ask Jagdeep Singh Bachher, the chief investment officer for the University of California system. Throughout the recession and recovery, he and his colleagues played it safe. But now some institutional investors — known for safe bets and a lumbering pace — are diving headlong into the startup economy. The school’s fund is bypassing traditional middlemen, venture capitalists, and investing hundreds of millions in companies on its own. The upside is they own the intellectual property, but some say they’re “really asking for trouble.”

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