200. University-Affiliated Funds & Angel Networks (Jason Whitney)

Jason Whitney of IU Ventures joins Nick to discuss University-Affiliated Funds & Angel Networks. In this episode, we cover: Backstory/path to venture At IU you have 3 core initiatives - The Quarry, IU Venture Fund and the IU Angel Network. What's the focus of each? Talk about the investment focus for the IU Philanthropic Fund. What're the criteria to be eligible for funding? How does IU Ventures support the University's mission? How does it affect or benefit current students?   As a broader goal, I know the organization ultimately hopes to entice investors and entrepreneurs from around the country to return to Indiana as a result of participating in the network. Are you measuring this and are your efforts working thus far? So, a criticism of both university venture funds and angel groups is speed -- traditional angel groups and academia move slowly with investment decisions.  How do you combat that issue for founders raising on a tight timeline, trying to close a round? I was speaking with a university-affiliated investor just last week and he was saying, there's just not enough deal flow when you restrict investments to companies that have a specific university affiliation... do you agree/disagree? I've heard from a number of the Alumni Ventures Groups in recent years  -- there are folks leading funds and angel groups with alumni from a particular university... are you a part of this effort and what's your impression of the Alumni Ventures Groups? Let's talk more about the IU Angel Network. How do you go about becoming a member? What do you gain access to as a member? Aside from the university affiliation, which is appealing to many, what advantages and points of differentiation does IU Angels have vs. other angel groups? For the founders out there... why should they fight to get IU Ventures and/or IU Angels on their cap table -- how specifically are you driving success beyond that of other investors? Advice for investors? To listen more, please visit http://fullratchet.net/podcast-episodes/ for all of our other episodes. Also, follow us on twitter @TheFullRatchet for updates and more information.