capital funds

Philanthropists have given the campus about $75 million over the last year to invest in venture capital funds that invest mostly in Berkeley companies.

Hollywood veteran Jeffrey Katzenberg is turning more of his attention toward tech, with his WndrCo investment firm saying it raised more than $460 million for venture capital funds focused on the industry.

“Less than 1% of all venture capital funds go to women of color. And so we are here fighting them to say, can we at least have 1%? They’re saying, no, we want all the pie,” Ben Crump, a civil rights attorney who is also representing the Fearless Fund Fund, said a news conference following the hearing.

The deal is valued at $4.6 billion and, according to Lionsgate, will generate about $350 million in capital — funds that will be used to help pay for Lionsgate’s acquisition of eOne, which closed at the end of last year.

Seattle has some other options, such as asking the Legislature if money from capital funds can be used to pay operating costs.