Holtzheimer highlighted RIVF's commitment to supporting innovative founders and growing its impact across New Jersey, with plans to announce new partnerships and investment strategies in the coming months.

The Rowan Innovation Venture Fund (RIVF) has appointed Garden State Venture Partners (GSVP) as its new management team, marking a significant development in the fund's evolution.

Dr. Ali Houshmand, president of Rowan University, stated that this partnership will enhance opportunities for Rowan startups and the broader New Jersey community by providing essential access to capital and expertise.

The collaboration is expected to accelerate the success of startups emerging from Rowan University and attract further investment to New Jersey.

GSVP's leadership team features Rowan alumni Michael Connallon Jr., Shawn Hill, and Ernie Holtzheimer, with Connallon bringing 24 years of experience in global financial services from firms like JPMorgan Chase, Goldman Sachs, and Deutsche Bank.

Shawn Hill has two decades of experience in venture capital and private equity, having held positions at Moderne Ventures and Polymath Ventures, while Holtzheimer has managed RIVF since 2020 and is a corporate attorney.

RIVF is notable for being one of the few university-born venture funds of its scale in the U.S., with only 5% of higher education institutions participating in similar initiatives.

Currently, RIVF manages 18 active investments across various sectors, including life sciences, biotechnology, and software development, having started with a $5 million commitment in 2014 and receiving an additional $20 million in 2022.

Connallon emphasized GSVP's goal to enhance the fund's value and improve commercial pathways for university-led research and technology, aiming to attract new co-investment partners.

GSVP aims to catalyze innovation and economic success by investing in New Jersey's innovation ecosystem and fostering new partnerships.