More than one-fourth of the venture capital raised on behalf of early- and growth-stage companies in Indiana in 2014 had ties to Indiana University, according to a recent article in the Indianapolis Business Journal.
Based on a report provided to the IBJ by PricewaterhouseCoopers and the National Venture Capital Association, of the $47.3 million raised in such deals last year, about $12 million involved IU-related investments.
This included the Hoosier State’s largest venture capital deal in 2014, a $10 million, Series B funding round for unmanned aerial vehicle company PrecisionHawk, which has operations in Noblesville. The Innovate Indiana Fund was among the participants, with New York-based Millennium Technology Value Partners leading the round. Red Hat CEO Bob Young and Intel Capital also took part in the deal.
The Indiana University Foundation, along with Chicago-based First Analysis Corp. and an undisclosed firm, invested $2 million in Scale Computing Inc., an Indianapolis-based data storage company. According to the report, that deal was Indiana’s 10th-largest in 2014. Read more here: