Next Level Fund Makes First Investments

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The fund was first announced as part of Holcomb's Next Level Agenda. (Image courtesy of the state of Indiana.) The fund was first announced as part of Holcomb's Next Level Agenda. (Image courtesy of the state of Indiana.)
INDIANAPOLIS -

Governor Eric Holcomb’s office says the Next Level Indiana Trust Fund has made its first two funding commitments. The fund, created by the Indiana General Assembly in 2017, has awarded a total of $21.5 million to Indianapolis-based High Alpha Capital and Colorado-based Foundry Group.

The funding was announced as part of the first progress report for the NLITF, which was posted by the fund's investment board. Holcomb’s office says the NLITF aims to “build and support increased entrepreneurship and innovation in the state.”

Earlier this week, High Alpha announced it had secured $100 million in funding, with $85 million going toward the creation of the High Alpha Capital II venture fund. The NLITF contributed toward that fund with its commitment. High Alpha co-founder Eric Tobias will be a guest this weekend on Inside INdiana Business with Gerry Dick to talk about the fundraising efforts.

Foundry Group, while based in Colorado, has a number of portfolio companies with offices in Indiana, including Sympoz and Authentic8. The company also contributed to High Alpha's $100 million fundraising effort.

You can learn more about the Next Level Indiana Trust Fund by clicking here. You can view the full progress report below:

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