I just read an article in the Indianapolis Business Journal about the Indiana Seed Fund I. The Indiana Seed Fund I is a seed-stage private investment fund started in 2005 and overseen by the Indiana life sciences group BioCrossroads. The article highlighted the successes of the fund – that none of the 10 firms in which it has invested have failed, despite tough economic times, and that its first investment, SonarMed, just won FDA approval.  It also presented the idea of creating a follow-on fund, since the original $6 million has nearly been depleted.
“It’s named the Indiana Seed Fund I, so there certainly are aspirations for us to continue,†said fund managing director Nora Doherty.
According to the BioCrossroads web site, “The Indiana Seed Fund was formed to help narrow the gap between discovery and third-party funding in Indiana and to prepare companies for venture investments, through vehicles like the Indiana Future Fund I.”
