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Duke University, alumni eye investments in startups

Duke University has created two investment vehicles that, if all goes according to plan, will be capable of investing a total of up to $3 million in startups created by Duke students, alumni, faculty and staff.

The new Duke Angel Network announced Wednesday will consist of university alumni interested in providing seed capital for such startups and, ultimately, making a profit on those investments.

Eric Toone, vice provost and director of the university’s Innovation and Entrepreneurship Initiative, said the goal is to have 50 Duke alumni on board by the end of this year and 100 by the end of 2016.