New Indiana Venture Funding Push To Be Overseen By Chicago Firm

INDIANAPOLIS — AP News reports a Chicago-based firm plans to take charge of a new Indiana-baked venture fund, as Governor Eric Holcomb has said the Next Level Fund will “build and support more innovation and entrepreneurship” in Indiana. But it’s unclear how much of the money will go to Indiana startups. AP News reports The Indianapolis Business Journal says that 50 South Capital Advisors LLC plants to start investing up to $250 million this spring and an Indiana investment board is expected to finalize its contract with the Chicago firm this month.

The contract will outline money management and investing the majority of the funds in other venture capital funds, which will then be invested into companies, IBJ reports.

However, the report says critics believe the out-of-state firm could increase the risk that a lot of the funds will leave Indiana.

More: apnews.com, ibj.com

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