Indiana Seed Fund II (the Fund) is an early-stage life sciences venture fund focused on identifying, creating and developing the next generation of leading Indiana-based companies. Managed by BioCrossroads, the $8. 25 million fund is a follow-on to Indiana Seed Fund I, a $6 million fund organized in 2005. Fund I is now fully invested in a portfolio of early-stage Indiana life sciences companies who are developing a range of diagnostic, therapeutic and medical technology products.
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 BioCrossroads’ focus on forming promising companies around innovative ideas. The Fund’s investment committee is comprised of individuals with start-up management and life sciences investment experience.
The Fund’s investment committee augments BioCrossroads’ expertise and draws upon many years of collective operational experience as CEOs, business development heads, and other senior management positions at life sciences and technology companies, including several successful start-ups with a number of profitable exits.
Members of the Indiana Seed Fund II’s investment committee include:
- Darren J. Carroll – Vice President, Corporate Business Development, Eli Lilly and Company;
- David L. Johnson – President and CEO BioCrossroads/ BC Initiative, Inc.;
- William R. Ringo, Jr. – Executive Partner, Sofinnova Ventures; Retired Senior VP of Strategy and Business Development, Pfizer, Inc.;
- Steffanie Rhinesmith – Chief Investment Officer, Richard M. Fairbanks Foundation; and
- Nora B. Doherty, ex-officio – Managing Director, Indiana Seed Fund I and Indiana Seed Fund II; Vice President of Finance BioCrossroads/BC Initiative, Inc.
To be considered for investment, companies are expected to have proven management teams, owned or licensed technology, intellectual property, and be able to demonstrate a validated market need. Ideal companies will be progressing towards defined milestones to secure a Series A financing, strategic partnership or co-development agreement.