IU Ventures is a 501(c)(3) affiliate of Indiana University focused on assisting IU students, faculty, staff and alums with advancing high potential new venture opportunities. The Quarry, IU Philanthropic Venture Fund and the IU Angel Network are the key IU Ventures programs supporting this focus.
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In 1997, IU established the Advanced Research and Technology Institute (ARTI), to handle all IU-related intellectual property, trademarks and business development activities. In 2007, the organization evolved into the Indiana University Research and Technology Corporation (IURTC). Over the past 20 years, these efforts have contributed to the establishment of the $10 million Innovate Indiana Fund and:
In 2017, with IURTC’s technology transfer functions transferred into IU’s Office of the Vice President for Research, IURTC proceeded with revised objectives toward achievement of one of Indiana University’s Bicentennial Priorities – Building a Prosperous and Innovative Indiana.
The IURTC, now operating as IU Ventures is addressing these objectives through the establishment and management of the Quarry, the IU Philanthropic Venture Fund, the Innovate Indiana Fund and the IU Angel Network.
IU Ventures is a forward-thinking group focused on:
President & Chief Executive Officer
Armstrong helps guide IU’s efforts to further economic development and job creation, to support new business ventures, to transfer IU-developed technologies to the marketplace, and to build partnerships with businesses and universities across Indiana and throughout the nation and the world. In this role, he established the Innovate Indiana Fund and the Indiana Philanthropic Venture Fund.
Prior to this appointment, Armstrong served as Executive Director of the IU Office of Engagement and as Associate Director of the Office of Technology Commercialization at IU’s Advanced Research and Technology Institute. He also served as the Executive Director and General Counsel of the Indiana 21st Century Research and Technology Fund. In that role, he managed a $140 million fund that provided early-stage investments for collaborative research partnerships and cultivated high-tech industries for the state of Indiana.
A native of Madison, Indiana, Tony holds a B.S. from the IU Kelley School of Business, a J.D. from the IU School of Law – Bloomington, and an M.B.A. from Butler University.
Executive Director, IU Ventures
Fund Manager, IU Philanthropic Venture Fund
Fund Manager, Innovate Indiana Fund
Teri returned to Indiana in 2018 to join Indiana University as an Executive Director of IU Ventures and to launch and manage the new Indiana Philanthropic Venture Fund (IU PhV). She is a member of The Dimension Mill/Velocities Investment Committee, a Director of the Venture Club of Indiana, an Advisor to OnCode Institute in the Netherlands, an Advisor to the Frankel Innovation Initiative and serves on the Board of several early stage companies.
Her career has been about starting and re-organizing university technology transfer programs and launching new early stage funds that invest in university science-based ventures.
Teri served as Vice President of Cold Spring Harbor Laboratory leading a new program for industry engagement, new ventures and intellectual property licensing; Vice President for Technology and Business Development for Mount Sinai School of Medicine; founding Chief Executive of Cambridge Enterprise, Ltd the technology commercialization affiliate of the University of Cambridge in England, which included the launch of the Discovery Fund; founder and Managing Partner of ARCH Development Partners, a seed and early stage venture fund focused on university and corporate spin-outs; Business Development for Endocyte, Inc., University of Notre Dame Business School Adjunct Faculty; and Vice President of Start-ups at ARCH Development Corporation, a subsidiary of the University of Chicago, which commercialized technology from the University and Argonne National Laboratory. Her prior experience also includes non-executive board positions with several early stage companies, technology transfer leadership roles at Northwestern University and Purdue Research Foundation, including the partnership to launch Cook Biotech, founding membership on the Indiana 21st Century Fund Board and business development for International Minerals and Chemical.
Teri has been an advisor to policy makers, universities, and companies, is a past President of the Association of University Technology Managers (AUTM), a former Bye Fellow of Christ’s College Cambridge in England and a Sagamore of the Wabash.
Associate Vice President, IU Ventures
Executive Director, IU Angel Network
Jason Whitney serves as Associate Vice President for Indiana University Ventures and Executive Director for the Indiana University Angel Network, supporting and developing Indiana University affiliated entrepreneurial ecosystems nationwide.
Whitney’s responsibilities include managing the operations of the IU Angel Network, leveraging new and existing partnerships to fully benefit IU entrepreneurs, and conducting business development and due diligence activities for the IU Philanthropic Venture Fund.
Prior to his appointment, Whitney served as Vice President for Launch Indiana at Launch Fishers where he was responsible for the development and execution of the statewide innovation-driven entrepreneurial capacity building.
Jason holds a B.S. in management from the O’Neill School of Public and Environmental Affairs at Indiana University.
Samantha is a Senior Associate and Head of Platform for IU Ventures. Samantha conducts research and due diligence on strategic investment opportunities for IU Ventures’ funding programs and helps to ensure an adequate pipeline of investment opportunities for deal flow through her engagement with IU entrepreneurs. Samantha supports the administration of the fund and the operations of the IU Ventures team.
Prior to joining IU, Samantha was a business development representative in the behavioral healthcare industry.
Samantha holds a B.S. in Public Health and M.P.H (Master of Public Health) from Indiana University Bloomington.
Chief Financial Officer
Mike Burton serves as Chief Financial Officer for IU Ventures. His responsibilities include strategic planning, financial management and reporting, budgeting and operations.
Burton holds a B.S. in accounting from Ball State University and is a licensed certified public accountant in both Indiana and Florida. He is a member of the Indiana CPA Society and the American Institute of CPAs.
Bill Stephan (Chair)
OUP has two types of partnerships with institutions. Associate Partners assign their Participation Rights to OUP on a deal by deal basis at the university’s discretion, with such assignment occurring at the time of an actual OUP investment in a company. Associate Partners retain the option to invest alongside OUP should they so choose. Currently, the fund has non-exclusive Associate Partner relationships with over 80 universities, research institutions, and accelerators in the U.S. and abroad. Associate Partners share in the profit of the fund to which they have assigned their right.
The National Venture Capital Association (NVCA) empowers the next generation of American companies that will fuel the economy of tomorrow. As the voice of the U.S. venture capital and startup community, NVCA advocates for public policy that supports the American entrepreneurial ecosystem. Serving the venture community as the preeminent trade association, NVCA arms the venture community for success, serving as the leading resource for venture capital data, practical education, peer-led initiatives, and networking. For more information about the NVCA, please visit www.nvca.org.
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