Square 1 Ventures, the private equity arm of Square 1 Bank , has added a former investment manager for Duke University's endowment as an independent member of its venture investment committee.

Andreas Ritter, currently the managing director of investment advisory firm ARICO, previously managed $2 billion in private equity investments for Duke's endowment, known as DUMAC.

Square 1 Ventures also named Will McLean, chief investment officer for Northwestern University's $6.5 billion portfolio, to its venture investment committee.

Square 1 Ventures is a "fund of funds" that invests in other venture capital funds.

"I am pleased that we were able to attract two individuals held in such high regard by the industry," Adrian Wilson, president of Square 1 Ventures, said in a statement.

Durham-based Square 1 Bank is a nationwide bank that works with venture-capital-backed-companies.