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Indiana launches investment fund to help entrepreneurs

A new Indiana investment fund aims to support entrepreneurship, launch careers and help the next generation of commerce.

Posted: Apr 17, 2018 9:19 AM

INDIANAPOLIS (AP) — A new Indiana investment fund aims to support entrepreneurship, launch careers and help the next generation of commerce.

The $250 million Next Level Indiana Trust Fund is available to experienced money managers wanting to support new businesses with Indiana ties, The (Northwest Indiana) Times reported . The funds came from a $3.8 billion lease of the Indiana Toll Road.

"We know that additional capital is part of this equation, and additional expertise is really going to be that factor that bumps us way out from the rest of the pack and truly takes Indiana to the next level," Gov. Eric Holcomb said last week.

Investing in promising businesses will more effectively grow the state's economy in the long-term, he said.

"To me this symbolizes truly a win-win-win day for Indiana," Holcomb said. "Certainly it's a win for the creator class, it's a win for the investor class, and because of that it's a big, big win for Indiana."

The fund's investment board selected 50 South Capital Advisors LLC in December to manage the fund.

The company plans to invest in up to 30 funds over the next five years to support entrepreneurs, said Trey Hart, 50 South's senior vice president. The approach will generate greater performance with less risk, he said.

"We think the largest percentage of the portfolio is going to be invested in managers that are physically located here, that will be most likely to invest in Indiana companies," Hart said. "But the portfolio will be broadly diversified by stage, sector and strategy."

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Lake48298874
Allen35720633
Hamilton31970396
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Tippecanoe19927199
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Delaware9824179
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Howard9038195
Kosciusko8539108
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Hancock7399130
Warrick7399150
Floyd7180167
Wayne6622191
Grant6413157
Boone606888
Morgan6066124
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Cass542899
Marshall5414104
Henry541392
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Steuben337455
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White297152
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Fayette271156
Decatur270188
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Posey260431
Wells257174
Scott250050
LaGrange240770
Clay240344
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Spencer216930
Jennings214344
Washington209927
Sullivan202939
Fountain201042
Starke187250
Owen181953
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Jay177528
Carroll176218
Perry173335
Orange170950
Rush164322
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Pike127432
Blackford120527
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