A Chicago-based firm is preparing to take the reins of a new state-backed venture fund and plans this spring to begin investing up to $250 million.
But while Gov. Eric Holcomb said in January that the Next Level Fund will “build and support more innovation and entrepreneurship in our state,” it’s not clear just how much of the money will end up in the hands of Hoosier startups.
Hart A state investment board is expected to finalize a contract this month with 50 South Capital Advisors LLC to manage the money and invest the vast majority of it in other venture capital funds, which will then invest in companies.
