Founding shares are typically held by the Edinburgh Technology Fund Ltd (ETF) as a nominee on behalf of the University. ETF is a wholly-owned subsidiary of the University, through its distinct legal form provides a degree of autonomy. This helps ensure an appropriate framework of governance and resource to support and champion University spinouts. The University remains the beneficial owner of all founding shares. ETF can also (in limited circumstances) make direct investments.
ETF has its own board and is managed day-to-day by the EI Investment Team.
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