Indiana Philanthropic Venture Fund ready to invest in IU connected startups, entrepreneurs
One of the state’s newest venture capital funds, the Indiana Philanthropic Venture Fund (or “IU PhV”), has a unique back-story. Originally born of proceeds from the sale of ANGEL Learning nearly a decade ago, the $15 million IU PhV evergreen fund will invest in Indiana University-connected startups and entrepreneurs, and alumni and friends of the university can make donations to support the funds’ longevity.
Ultimately, the IU Research and Technology Corporation (IURTC) intends for the new fund to reach $50 million with growth coming from equity realizations of successful investments, as well as donations. All gains will be reinvested into the fund and donations to the IU PhV Fund will be handled the same way gifts to any other cause or project of the university are handled.