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.
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.
Vice President, Venture Development
Executive Director, IU Angel Network
Jason Whitney serves as Vice President of Venture Development 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.
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.
Starting a new venture is hard and requires more than a great idea. Offering start-up support to IU affiliated founders is essential. Mentorship, access to talent, early-stage funding opportunities, networking, and connections to resources are critical to success. In his role as Vice President – Engagement, Jon is focused on activating and cultivating the global IU Founders and Funders Network.
Barada’s responsibilities include alumni and student engagement, marketing, fundraising, angel network development and a little bit of a lot more. Previously, Barada served as President and CEO of the Bloomington Health Foundation where he oversaw deployment of a $35M fund dedicated to helping the people of Bloomington and neighboring communities lead healthier lives.
Originally from Rushville, Indiana, Jon holds a BS from the Kelley School of Business and an MBA from Butler University. Jon and his wife, Brooke, have three children: Kate (15), Ellie (14), and Ben (12).
Executive in Residence
James (Jim) Fielding is a veteran Consumer Products, Media, and Retail executive whose positions have included President of Consumer Products and Innovation for Fox Television Group and Twentieth Century Fox Film Corporation, Global Head of Consumer Products and Retail at DreamWorks Animation, and CEO of Claire’s Stores Inc. Over his career, Fielding has held key roles in the merchandising world at companies from Lands’ End, Inc. and The Gap to The J. Peterman Company and Dayton Hudson Department Store. Jim also served as President of Disney Stores Worldwide during his 12 year tenure with the firm. Jim is currently a Partner in
Archer Gray, an independent Media company best known for Film and Broadway productions, specializing in talent from historically underrepresented voices.
He also currently serves as Executive in Residence working with the IU Ventures Team and the Office of the Vice-President for Diversity, Equity, and Multicultural Affairs. In this role, Jim lends his expertise to special projects like Strategic Planning, Branding and Marketing priorities, and working on Student Engagement.
Fielding earned a B.A. in Political Science and Management from Indiana University. Jim currently serves on the IU Foundation Board of Directors. He is a founding member of the Queer Philanthropy Circle, and a proud member of the Black Philanthropy Circle and Women’s Philanthropic Leadership Council. He served on the Hamilton Lugar School Dean’s Advisory Council from 2016-2019, contributing his energy, enthusiasm, and marketing expertise as well as giving generously to establish the James D. Fielding Family Study Abroad Scholarship and the James D. Fielding Internship Abroad Scholarship. Jim has also funded a Leadership and Advocacy Scholarship Fund through OVPDEMA. Fielding is an active Angel and Seed investor, and mentors many Start-Up founders and teams.
Chris Carbajal is the Venture Analyst for IU Ventures. At IUV, he blends his affinity for startup investing with his passion for supporting bold IU-affiliated founders building impactful companies.
Chris is a Los Angeles native and holds a B.S. in Finance from Indiana University – Kelley School of Business. During his studies, he also completed a semester-long exchange program at ESADE Business School in Barcelona, Spain, and an internship with an early-stage venture capital firm based in Mexico City, Mexico.
After graduation, Chris spent two years as an operator at two San Francisco-based startups in the energy efficiency and real estate tech sectors. During his time at Redaptive and Eden, he focused on growth initiatives, optimizing operation-based workflows, product management, and strategic partnerships.
Outside of work, Chris loves to travel, attend live concerts, and play sports ranging from golf to motocross.
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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