UNB alumnus launches student venture fund
Author: UNB Newsroom
Posted on Sep 13, 2019
Category: UNB Fredericton
Thanks to UNB alumnus Charles Fraser (BBA ’68), University of New Brunswick students enrolled in the faculty of management’s enhanced venture assessment course will award funding to up to two deserving local start-ups.
The Fraser Student Venture Fund gives students the opportunity to research and analyze businesses that are in the start-up stage of development. Selected start-ups will receive generous investments from the fund, positioning them for further development.
“The primary objective of this program is to support and develop the natural entrepreneurial spirit within the management faculty,” said Mr. Fraser, a retired wealth manager. “In turn, I see this fund eventually helping UNB play a more supportive role in the province’s economic growth. It is also my hope that this fund inspires others to support the faculty and its students.”
This fall, students enrolled in the venture assessment course will analyze and deliberate over applications from start-ups, recommending potential investment in promising UNB-led ventures.
The course with be led by Raymond Fitzpatrick, director of investments with the New Brunswick Innovation Foundation. Working closely with the students, along with Fitzpatrick, will be members of the Fraser Investment Committee, which includes seasoned entrepreneurs and investors such as Jeff White, CEO of the New Brunswick Innovation Foundation; Marcel Lebrun, Venture Partner at Real Ventures and former CEO of Radian6; and Duncan MacDonald, CA, CEO of Senada Inc.
Additionally, NBIF is committed to awarding up to $100,000 per year with the goal of making two $50,000 investments in New Brunswick-based startups that are deemed investment ready by the students.
“The faculty of management’s concentration in entrepreneurship is one of the most popular specializations among students,” said dean Dr. Dev Mitra. “The Fraser Student Venture Fund is the next step in enhancing the entrepreneurial finance experience of our students.”
For more information about the Fraser Student Venture Fund, or to submit your business plan to the Venture Assessment class for consideration, please contact Raymond Fitzpatrick at raymond.fitzpatrick@nbif.ca.
Media contact: Liz Lemon-Mitchell
Photo: Investor Charles Fraser (middle row, third from left) and faculty of management dean Dev Mitra (front row, third from left) visit with the Venture Assessment class on Monday, Sept. 9, 2019. Credit: Joy Cummings/Photo UNB.