Early-stage startups based out of the University of Pennsylvania already have a decent well to pump for seed cash. But what happens when business starts booming?

Enter Chestnut Street Ventures, the latest Penn-focused investment fund, which looks to provide growth-stage startups with investments in the $200,000 range. Although the firm is not affiliated with the University, it’s rallying cash from Penn alumni and will invest exclusively in startups founded by Penn students, alumni and professors.

The fund is currently raising its first fund, which aims to be in the $3 million to $4 million range. A projected 25 investments will be made over the course of the next two years.

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