IU Philanthropic Venture Fund has recently announced its first successful exit from the fund's investment portfolio with the acquisition of Doxly.
Doxly is an Indianapolis-based company led by founding CEO and IU alumna Haley Altman and Executive Chairman Christopher Clapp. It is a software as a service product that helps users collect and centralize legal documents in one place.
The IU Philanthropic Venture Fund invests in IU-connected companies and startups, and earned equity returns to the fund.
IU Ventures is a nonprofit organization dedicated to empowering Indiana University faculty, alumni and friends to support and invest in IU-affiliated innovation. The IU Philanthropic Venture Fund is one of its three major programs that aim to provide opportunities for IU-affiliated individuals and support growing enterprises.
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William D. Eggers and Paul Macmillan of Dowser write about the social entrepreneurs slowly and steadily dirsupting the world of philanthropy. According to Forbes, philanthropy disruptors are those that believe “no one company is so vital that it can’t be replaced and no single business model too perfect to upend.”