Over the past decade, BioCrossroads has established itself as a leading source of venture capital for Indiana’s life sciences industry through the formation of four life sciences focused, return-driven investment funds. BioCrossroads has also been strongly supported by Indiana’s corporate and academic life sciences leadership, and has partnered with these stakeholders in several ways, including investment and enterprise-formation activities. BioCrossroads is in a strong position to continue to grow Indiana’s life science industry through the identification, advancement, and investment in Indiana’s science and technology innovations.
Indiana Future Fund I
In 2003, BioCrossroads established the Indiana Future Fund I as a leading source of venture financing for Indiana opportunities. The Indiana Future Fund I is a $73 million fund of funds that is managed by The Carlyle Group and AlpInvest.
Indiana Seed Fund I
In 2005, BioCrossroads formed the Indiana Seed Fund I to provide early stage capital to help companies achieve milestones that would better position them for later stage venture funding. The Indiana Seed Fund I is a $6 million fund that is managed directly by BioCrossroads. The Indiana Seed Fund I is now fully invested in a portfolio of early-stage Indiana life sciences companies developing a range of diagnostic, therapeutic and medical technology products.
In December 2009, BioCrossroads established the $58 million INext Fund as a successor fund to the Indiana Future Fund. As with the Indiana Future Fund, the INext Fund is organized as a return-driven, fund of funds that is also managed by The Carlyle Group and AlpInvest.
Indiana Seed Fund II
BioCrossroads formed the Indiana Seed Fund II in early 2012. The Indiana Seed Fund II is an $8 million early-stage life sciences venture fund focused on identifying, creating and developing the next generation of leading Indiana-based companies. Managed by BioCrossroads, the Fund is a follow-on to Indiana Seed Fund I. The Fund makes investments of up to $1 million in early-stage biotechnology, pharmaceutical, medical device, diagnostic, ag-biotech and health information technology products and platforms and will continue to focus on forming promising companies around innovative ideas.