Welcome to chapter four of our From The Trenches Q&A series, where we answer some of your FAQs about entrepreneurship and venture capital. Have a question for our experienced VCs? Shoot us an email, and we’ll answer it!
Q: Is OIF a state/government funded organization?
A: No, OIF is a private venture capital fund formed to create globally impactful companies that lead the industries of the future right here in the Heartland by providing capital and expertise to bold, innovative, disruptive early-stage companies. We treat each company with the same care as if it was our own and get into the trenches to work with the founders and entrepreneurs to achieve high growth and success. Three overarching goals that help us fuel the Heartland’s startup community are:
- Competitive venture returns for our Members
- Allow Members to invest in the Heartland, creating new, high-impact industries and careers in our Members local communities and state
- Train the next generation of entrepreneurs and venture investors through our Student Experience Program and university involvement
Many forward thinking and innovative leaders at universities share our vision and mission. High-ranking personnel, including trustees, presidents and CFOs, from The Ohio State University, Ohio University and Kent State University are invested in the success of Ohio-based companies and understand how they can benefit the state’s economy, which is why these universities chose to be key partners, among other Members, in our fund.
-Bill Baumel, Managing Director at the Ohio Innovation Fund