Indiana launches investment fund to help entrepreneurs
INDIANAPOLIS (AP) — A new Indiana investment fund aims to support entrepreneurship, launch careers and help the next generation of commerce.
The (Northwest Indiana) Times reports that the $250 million Next Level Indiana Trust Fund is available to experienced money managers wanting to support new businesses with Indiana ties. The funds come from a $3.8 billion lease of the Indiana Toll Road.
Gov. Eric Holcomb said last week that investing in promising businesses will more effectively grow the state’s economy in the long-term.
The fund’s investment board selected 50 South Capital Advisors LLC in December to manage the fund. Capital Senior Vice President Trey Hart says the company plans to invest in up to 30 funds over the next five years to support entrepreneurs. He says the approach will generate greater performance with less risk.