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Indiana University Philanthropic Venture Fund
The Indiana University Philanthropic Venture Fund is a $250M venture program run by Managing Director Tom Guevara.
Indiana University Philanthropic Venture Fund
The Indiana University Philanthropic Venture Fund was established in 2018 as a wholly owned subsidiary of the Indiana University Foundation, capitalizing on IU's $3.5B endowment and decades of research output. Managing Director Tom Guevara oversees the fund's strategy, which targets early-stage companies connected to IU through faculty, alumni, or intellectual property (per IU Foundation, 2018). The fund invests across technology, life sciences, and education technology, deploying capital primarily as a fund-of-funds but also through direct co-investments. Confirmed positions include IU-linked startups in drug discovery, educational software, and artificial intelligence, though specific portfolio names are largely undisclosed. Geographically, the fund focuses on Indiana and the broader Midwest while also backing ventures in tech hubs like San Francisco and Boston where IU alumni are active. With $250M in committed capital, the fund is among the largest university venture pools. It operates with a small dedicated team and leverages IU's network of more than 750,000 alumni for deal sourcing and due diligence. Its philanthropic structure means returns flow back into IU scholarships and research — blending fiduciary duty with the university's mission (per IU Foundation, 2018). The fund's structural differentiator is its explicit philanthropic mandate: it is legally required to generate both financial returns and measurable social impact, a governance model rare among endowment vehicles. This dual objective shapes everything from investment screening to exit timing, setting it apart from purely commercial venture funds or traditional endowment allocations.
General information
Firm type
Venture Capital Fund of Funds
Year founded
2018
AUM
$250M (per IU Foundation, 2018)
Location
Region
North America
Country
United States
City
Indianapolis
Corporate office
Indianapolis, IN, United States
Principals
Tom Guevara
Managing Director
Sector focus
Frequently asked questions
Who runs investment decisions at the Indiana University Philanthropic Venture Fund?
Managing Director Tom Guevara leads the fund's investment strategy and day-to-day operations. He reports to the Indiana University Foundation board, which provides oversight (per IU Foundation, 2018).
Does the fund invest only in Indiana-based companies?
No — while the fund prioritizes Indiana and the Midwest due to its connection to IU, it has also invested in companies based in tech hubs like San Francisco and Boston where IU alumni are active. The core requirement is a meaningful tie to the university (public record).
How does the fund source proprietary deal flow?
The fund draws on IU's faculty research labs, technology transfer office, alumni network of 750,000+, and direct relationships with venture firms. This university-linked sourcing gives it access to early-stage deals that traditional venture funds may not see (per IU Foundation, 2018).
Is this fund structured purely for financial returns or does it have a philanthropic mandate?
The fund has a dual mandate: it must generate both financial returns and philanthropic impact for Indiana University. Profits are reinvested into scholarships, faculty research, and university programs (per IU Foundation, 2018).
What investment stages does the fund typically target?
The fund focuses on early-stage venture rounds, with flexibility for direct co-investments alongside venture partners. It operates as a fund-of-funds for some allocations and directly invests in others (public record).
Does the fund participate in fund commitments or only direct deals?
The fund uses both structures — it commits capital to external venture funds as a limited partner and makes direct co-investments in companies. This hybrid model gives it diversified exposure while building direct relationships with founders (public record).
Which sectors does the fund explicitly avoid?
No explicit sector avoidance has been publicly stated, but the fund's focus on IU-linked opportunities naturally excludes industries unlikely to emerge from a large public research university — such as real estate, natural resources, or consumer goods (Altss inference).
Profile maintained by Altss using OSINT (open-source intelligence), regulatory filings, licensed data partners, and verified direct submissions. Read the methodology. Last updated: . Continuous refresh with full update cycles at least every 30 days.
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