Life sciences are the
focus of the new venture capital in Indiana. It is called Heron
Fund. The $20 million initial investment came from over 30
individuals, and is perhaps the largest venture capital fund in Indiana
focused exclusively on startup life science companies, but not the only
one.
Nearly a dozen venture
capital funds in Indiana now focus a large portion of their attention on
life science firms. Heron Capital plans to focus on Midwestern
companies involved in medical devices and diagnostics, and, to a lesser
extent, pharmaceuticals.
Much to my surprise,
medical devices and diagnostics are at the top of Indiana's commerce
strengths, and is ripe for future growth. Indiana is home to medical
device companies that include Roche Diagnostics in Indianapolis. Warsaw is
home to three of the world's five largest prosthetic makers: Zimmer, DePuy
and Biomet.
In the past few years,
Central Indiana has accumulated more than $100 million in venture capital
earmarked for life science companies -- particularly firms involved in
medical devices.
It is especially
impressive that Heron Capital came from private individuals, not pension
funds and other big institutional investors -- this more than anything
demonstrates the grass roots strength in the area.
Perhaps as important,
local capital attracts large regional and national funds to the area, such
as Pappas Ventures of North Carolina investing in the area.
Local officials are
hoping that these new funds will encourage the type of growth that is
economically beneficial to the area.
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Venture Capital in Indiana
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C.J. Ralph
Venture Capital Specialist |
