University endowment investments in start-ups and mezzanine-round investing is most often done through VC, such as IVP (Institutional Venture Partners) wherein the endowments buys shares in various funds run by the VC partnership. Or, say in the case of the U Chicago, through their own separate venture capital operations (ARCH, ARCH Venture Partners).
So often you wouldn't see 'Yale', 'Columbia', or 'Harvard' names on institutional holding lists for per-IPO or even early post-IPO companies. Their investments (if any) would likely be represented through various VC and would be in large pooled funds with many other similar investors - and anonymous.
Nott that any of that has anything to do with pennystocks - butt just for general knowledge. Of course, post-IPO companies (legit ones) will often show direct investments from the institutions themselves (or their endowment management entities). Butt in my 'spearience, the pre-IPO investments from U's are usually masked by being just a part of a blended fund (or several) by a totally separate VC entity.
Nott always, must most commonly.
Just an FYI for DD work and a note to this bored.
Other than that one persnickety clarification, your point remains unsullied and without objection.
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