Indiana launches $21M life sciences venture fund

Indiana has announced a new early-stage venture fund focused on turning in-state research into commercially viable life sciences startups. According to the Indiana Economic Development Corporation (IEDC), Crossroads Health Ventures has already raised over $21 million from a mix of strategic partners and institutional investors, and plans to begin making investments sometime in early 2026.

Governor Mike Braun said in the press release that Indiana brought together “public and private partners to support innovation at every stage,” also noting that the new fund “will help ensure the next generation of life sciences companies can start, scale, and succeed right here in Indiana.”

The fund’s supporters include major corporate and academic names such as Lilly Ventures, Corteva, Elanco, Indiana University, Parkview Health, and the State of Indiana through the IEDC. They’ve intentionally combined private capital, corporate strategic partners, and public backing and the fund is set up to focus on specific sectors across human, animal, and plant health opportunities.

Secretary of Commerce David J. Adams declared in the announcement that the initiative meant the state was “lifting up entrepreneurs and startups to drive innovation across human, animal, and plant health, creating next-generation solutions and solidifying Indiana’s global leadership.”

The launch coincides with other investments in the same sector, including INCOG BioPharma’s $200 million expansion of its Fishers campus, adding roughly 300,000 square feet and boosting injectable drug manufacturing capacity. They’re expecting to have nearly 1,000 employees by 2030. 

Other expansions include West Pharmaceutical Services opening a new manufacturing facility in Greenfield, expected to create up to 300 jobs, and Autocam Medical expanding its operations in Warsaw, adding another 300 roles. State officials have touted these developments as offering wages above the local average and emphasize that these moves help strengthen Indiana’s foothold in the pharmaceutical and medical device supply chains.