The Ball State University Foundation board of directors has voted to invest $2 million into an Indiana-based venture capital fund.
Investing into this fund will support the growth of the Central Indiana Life Sciences Initiative.
This investment is part of a private equity allocation of endowment funds that is managed by the Ball State Foundation Board, according to a press release.
"Investing in this fund will allow us to help achieve the goals set forth in our Building Better Communities initiative," Ball State president Blaine Brownell stated in a press release. "Helping Indiana develop a strong and more diverse economy will pay long-term dividends to many communities around the state."
The release stated that with these commitments the Indiana Future Fund will decide which receive commitments among numerous capital funds. A variety of Indiana-based or Indiana-focused venture capital firms are expected to receive funding with a focus on the life sciences field.
Since May, universities throughout the state have provided $12 million in commitments to the Indiana Future Fund.
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