We Invest
Indiana is a national destination for venture investment, but there was a time when the state had no local venture capital community for life sciences investments and attracted no national VC firms. However, there are now at least 19 angel, seed and venture capital funds actively looking for deals in Indiana, including eight organized and based here and focused on Indiana’s life sciences opportunities. More than $350 million of venture capital has been infused into the state over the last five years.
BioCrossroads has created three life sciences funds in order to breathe life into our local VC market. The Indiana Future Fund, established by BioCrossroads and managed by Credit Suisse, is a $73 million fund of funds that provided the foundation for Indiana’s venture capital growth. The $6 million Indiana Seed Fund was established in order to provide critically-needed capital for new companies to form and secure additional rounds of early-stage venture funding. And, in December 2009, the $58 million INext Fund, a venture capital fund of funds, was established with institutional investors Eli Lilly and Company, Indiana State Teachers Retirement Fund, Indiana University, Purdue University, University of Notre Dame and Richard M. Fairbanks Foundation. BioCrossroads organized the fund and Credit Suisse manages it.
Indiana’s model for VC success is a unique, market-driven approach, bringing together a diverse group of institutional investors focused first and foremost on return.
In addition, funds like the Indiana Economic Development Corporation’s 21st Century Research and Technology Fund, which provides financial support to highly innovative Indiana-based companies, also add important life to our life sciences community.
BioCrossroads and our venture capital funds like the Indiana Future Fund and the Indiana Seed Fund accelerate our growth and give entrepreneurs the resources they need to turn good ideas into successful businesses.
