Investment Policy

The Next Level Fund Investment Policy is designed to ensure that the Office of the Indiana Governor, the Next Level Fund Investment Board, the Program Administrator, the Next Level Fund Advisory Council  as well as any contractors the Investment Board or Program Administrator retains to provide services related to Next Level Fund, take prudent, measured, effective actions while supporting the Next Level Fund. The Investment Policy is designed to allow for sufficient flexibility in the management oversight process to take advantage of investment opportunities as they arise, while setting forth reasonable parameters to ensure prudence and care in the execution of the Next Level Fund.

 

Please click here to access the Next Level Fund Investment Policy.

 
 
 

Portfolio Strategy

  • Targeted investment period within an overall five-year commitment window
  • 20-30 fund investments
  • Minimum fund size of $10 million at the time of final closing (exceptions apply)
  • NLF will not commit more than 10% of its total portfolio size to any underlying fund
  • NLF will not commit more than 1/3 of its total portfolio size in any given vintage year
  • NLF's fund investment portfolio will be diversified across vintage, stage, sector and strategy
  • Managers will utilize reputable service providers 

 
 
 

Investment Objectives

The Office of the Indiana Governor maintains a number of underlying objectives for the investment of The Next Level Fund capital including:

Promote Additional Investments in Indiana Technology Businesses. The Next Level Fund shall encourage the investment and philanthropic communities to explore investment opportunities in Indiana technology businesses to bring together, and add to, Indiana's rich science, technology, agricultural, and business communities.

Diversification. In order to achieve the Next Level Fund investment objectives, Next Level Fund investments shall be prudently diversified so as to minimize the risk of loss.

Performance.The Next Level Fund will deliver strong investment performance and will endeavor to make investments in Indiana venture capital firms in order to attract, assist and retain quality technology businesses in Indiana.