UA-focused venture fund makes its first investments

A new, early stage venture capital firm aimed at supporting University of Arizona technology spinoffs has made its first three investments.

UA Venture Capital Fund LLC, founded earlier this year by Tucson businessmen Fletcher McCusker and Michael Deitch, made investments in startups Codelucida, which has developed error-correction technology for data storage drives; Regulonix, which is commercializing a new kind of non-opioid painkiller; and Post.Bid.Ship., which is marketing an online trucking app that automatically connects shippers of goods with haulers.

The exact amount of each investment is confidential, but McCusker said the average investment was $2 million.

***Note of interest: All of the first 3 investments made by UAVC are also investments made by members of Desert Angels***