Garden State Venture Partners (GSVP) has been appointed as the new management team for Rowan Innovation Venture Fund. The New leadership team will expand fund operations, deepen economic impact, and engage new partners across New Jersey’s innovation ecosystem
The GSVP leadership team is comprised of three Rowan alumni, including Michael Connallon, Jr., Shawn Hill and Ernie Holtzheimer.
Connallon brings 24 years of experience in global financial services, including leadership roles at JPMorgan Chase, following years at Goldman Sachs and Deutsche Bank. Hill has two decades of venture capital and private equity management positions, including Partner at Moderne Ventures, Venture Partner at Polymath Ventures, and management positions at Constellation Software. Lastly Holtzheimer, a distinguished corporate and securities attorney and partner at Eckert Seamans Cherin & Mellott, LLC, who has managed RIVF since 2020.
Connallon says, “this team brings deep venture experience and industry operational expertise with plans to scale the fund’s value and strengthen commercial pathways for university-led research and technology. Through GSVP’s global network, we will attract new co-investment partners for RIVF portfolio companies who are mission-aligned and impact-driven, engaging businesses and investors in a soon-to-be-announced Fund that will allow for larger, later-stage funding rounds.”
“Our partnership with Garden State Venture Partners will accelerate the success of Rowan-born startups, attract investment to the region and state, and create new opportunities for our students, faculty, and the broader community,” Dr. Ali Houshmand, president of Rowan University said. “This collaboration will give entrepreneurs and researchers across New Jersey much needed access to capital, expertise and guidance.”
“This started as a Rowan effort but is quickly growing to have impact across the state. With the expansion of resources within RIVF we are doubling down on our commitment to support bold founders and accelerate innovation across New Jersey,” Holtzheimer said. “The opportunities ahead are significant,” adds Hill, “this is just the beginning. Over the coming months, we will be announcing new partnerships, investment strategies and ways we plan to scale our reach across the state.”
Rowan Innovation Venture Fund (RIVF) currently manages 18 active investments in the life sciences, biotechnology, software development, telecommunications and food and beverage sectors. Launched with $5 million commitment in 2014 to seed visionary start-up ideas, RIVF received an additional $20 million commitment in 2022 to back a pipeline of evolving businesses from within and outside the Rowan University community.
