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UC Berkeley-focused VC firm raises new fund

Photo: David Madison/Getty Images

The House Fund has raised $44 million for its second fund to back early-stage startups founded by UC Berkeley students, alumni and faculty (though it's independent of the school).

The big picture: UC Berkeley students and alumni have founded a myriad of tech companies but, unlike rival Stanford, the university has long struggled to tie together a community and resources to support those entrepreneurs. After deploying its first $6 million fund, founder and general partner Jeremy Fiance says he plans to double down on artificial intelligence this time around.