The Indiana University Research and Technology Corp. has announced a new fund designed to support startup development and research by faculty, students and staff on all IU campuses. The IU Philanthropic Venture Fund is a $15 million endeavor that could grow beyond $50 million. Much of the fund’s support will come from gifts to the university. Teri Willey has been named managing director and fund manager.

She most recently served as vice president of business development and technology transfer at Cold Spring Harbor Laboratory in New York and co-founded and was managing director of ARCH Development Partners, a Midwest seed fund, was chief executive officer of Cambridge Enterprise at the University of Cambridge in England where she established the Discovery Fund.

The IU Philanthropic Venture Fund will be open for investment consideration starting in April.