Next Level Fund Gets Thumbs-up From Tech Sector

Posted: Updated:
FISHERS -

The Indiana tech community is lauding the state's backing of a measure in the two-year budget that could make more money available for high-growth companies. The Next Level Indiana Fund, successor to the Mitch Daniels-era Next Generation Trust Fund, will have a wider scope, opening the door to higher-risk investments. The fund's potential pool is $250 million.

TechPoint Chief Executive Officer Mike Langellier says the move shows the rest of the country that Indiana is "going from laggard to leader" in venture capital. In an interview at Launch Fishers, Langellier calls the low level of available venture capital "an area of acute concern" for the state "particularly for those companies that are past early startup stage and they're in scale-up/growth stage." He says all of Indiana's neighbors have more of these funds available. "We have this crop of emerging companies that have the potential to be our next success stories, but there's not the venture capital in the ecosystem to support that growth," Langellier says.

The funding is generated by proceeds from the lease of the Indiana Toll Road and investments made through the fund previously had to be targeted at lower return fixed income investments.

  • Perspectives

    • The Importance of Strategic Planning

      How many years have you put work-life balance on your list of New Year's resolutions? Every day, I see so many business owners struggle with the same issues: working 60+ hours each week, not being able to remember the last time they had a vacation, and simply feeling like it's up to them to do it all in their business. After working with countless business owners to identify and overcome their challenges, I've realized the most common root cause is a lack of strategic planning.

    More

Subscribe

Name:
Company Name:
Email:
Confirm Email:
HTML
INside Edge
Morning Briefing
BigWigs & New Gigs
Life Sciences Indiana
Indiana Connections
INPower
Subscribe
Unsubscribe

Events



  • Most Popular Stories

    • Electric Works Lands State Incentives

      The first phase of a major redevelopment project in downtown Fort Wayne will receive state assistance. The Indiana Economic Development Corp. has awarded a conditional tax credit for Electric Works, a mixed-use innovation district located at the former GE campus. The incentive is part of the IEDC's Industrial Recovery Tax Credit program, used to boost investment in the redevelopment of former industrial facilities. Developers are projecting an initial investment of more than...

    • Nestl√© Planning $80M Anderson Expansion

      Nestlé USA has unveiled plans to invest nearly $80 million into its Anderson operations. Our partners at The Herald Bulletin report the company will purchase new equipment for the facility and add 30 jobs.

    • Well-Known Real Estate Firm Expanding to Fort Wayne

      Texas-based Keller Williams Realty Inc. has announced plans to open its first office in downtown Fort Wayne. Financial details of the real estate company's investment in the location were not immediately disclosed, however the expansion will bring at least 35 jobs to the Allen County city.

    • Purdue's Garimella Elected Fellow of National Academy of Inventor

      Suresh Garimella has been elected a fellow of the National Academy of Inventors. He is Purdue University's executive vice president for research and partnerships and the R. Eugene & Susie E. Goodson Distinguished Professor of Mechanical Engineering. Fellows of the NAI are inventors, nominated by their peers, for outstanding contributions in patents, licensing, noteworthy discovery, significant effect on society and support and enhancement of innovation.

    • Construction to Begin on $15M Fieldhouse

      City and development officials will break ground Friday on a $15 million sports complex in Noblesville. Finch Creek Park Fieldhouse will include five courts with hard surfaces, two turf-surfaced fields and 11 batting and pitching cages. The project, which was first unveiled a year ago, is a public-private partnership between Klipsch-Card Athletic Facilities LLC and the city. The company is also owner/operator of the fieldhouse at Grand Park in Westfield.