First Indiana Future Fund off to a slow start
More than half of the venture capital fund’s original investors took a pass on its $58 million successor, the newly launched
INext.
Venture Capital
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New BioCrossroads venture fund raises $58 million
The new INext fund is the successor to the $73 million Indiana Future Fund, which the life science initiative raised in 2003.
Lilly launching new venture capital fund
The fund would acquire experimental drugs and use Lilly R&D staff to try to prove their effectiveness, perhaps boosting Lilly’s drug pipeline.
$75M investment in ExactTarget may be Indianapolis record
The amount raised since October is in addition to the $69.9 million it received in May from three venture
firms on the coasts, in what was the third-largest venture deal in the nation during the second quarter,
according to the National Venture Capital Association.
Indiana University launches $10M seed fund
The Innovate Indiana Fund will invest $5 million over the next five years to commercialize IU technologies and another
$5 million to help IU-affiliated startups get off the ground.
Pace of life sciences venture capital deals in Indiana picks up
After no Indiana health and life sciences firms announced venture capital deals in the second quarter, five did so in the
third, and two more have already this month.
Indianapolis-based FAST Diagnostics gets funding from BioCrossroads’ seed fund
Money will help the company refine its tool to treat acute kidney injury.
My Health Care Manager lands $3 million investment
The company, which guides working adults and their parents through the maze of decisions and agencies involved in care for seniors, plans to use the money primarily to augment its sales staff and operations.
Purdue student-inventor nabs VC on TV show
A Purdue University student who invented a soy-based modeling dough walked away with a $300,000 investment after appearing
Tuesday on the ABC show “Shark Tank.”
Venture firms recapitalize Advanced Physical Therapy LLC
Locally based venture capital firms Cardinal Equity Partners and Centerfield Capital Partners have joined with Chicago-based
bank Harris NA to recapitalize the state’s largest independent physical therapy provider.
Green light for local IPOs?
If nothing else, you have to admire the patience shown by ExactTarget and Aprimo, two of the area’s hottest tech companies,
as they await better conditions to launch their initial public offerings.
Lilly reorganizes venture capital unit
Eli Lilly and Co. has reorganized its venture capital division and simultaneously poured in an additional $25 million.
Emerging life sciences companies grabbing more in government grants
More emerging life science companies have found life in the form of federal
Small Business Innovation Research grants.
Is Indiana coming out of venture capital swoon?
Carmel-based Dormir LLC’s announcement July 29 of $12 million in venture financing was the second local life sciences
deal announced in July. It could suggest a turnaround from a woeful second-quarter performance, when Indiana life
sciences firms announced zero venture capital deals.
Carmel’s Dormir raises $12M from venture capital firms
Carmel-based Dormir Inc., which operates sleep study centers and sleep equipment stores around the country, raised $12 million
in venture capital from three out-of-state firms. The company plans use the proceeds to acquire six to 10 companies this year
and more next year, according to CEO Tim Miller.
Carmel’s Dormir raises $12M from VC firms
Carmel-based Dormir Inc., which operates sleep study centers and sleep equipment stores around the country, raised $12 million
in venture capital from three out-of-state firms.
Recession has a domino effect on venture capital
Call it a trickle-down effect, but not the kind President Reagan would have liked. The recession has cost most institutional
investors, such as university endowments, about a quarter of their value. As a result, venture capitalists’ primary source
of funding has dried up. The implications for Hoosier entrepreneurship are stark.
Angel investment group off to flying start
HALO Capital injects $8 million into startups in first year of operation despite recession and membership turnover.
Stem cell discovery promises health care revolution
Scientists are using a new stem-cell technique that may someday revolutionize care for disorders as diverse as diabetes, Alzheimer’s
disease and muscular dystrophy.
Medical, tech entrepreneurs launch matchmaking effort in life sciences
Three entrepreneurs from the medical and software realms are herding angels to invest in upstart life sciences companies in
Indiana.