Jim Torina, the co-founder and former CEO of Bellevue, WA-based Talyst, is raising a venture fund and launching a startup incubator called The University Funds, also in Bellevue. The news was first reported by PE Hub. The seed-stage fund is looking to work with Washington State University and other institutions to build companies around universities’ intellectual property. The size of the fund has not been disclosed.

Gregory T. Huang is Xconomy's Editor in chief. E-mail him at gthuang [at] xconomy.com. Follow @gthuang

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