The first progress report for the state’s new Next Level Indiana Trust Fund was posted yesterday by the fund’s Investment Board. The report, submitted by the program administrator 50 South Capitol Advisors, LLC, shows that as of June 30th, two funding commitments have been made—one to Indianapolis-based High Alpha Capital and another to the Foundry Group, based in Boulder, Colo. The fund administrator will provide these updates twice per year to the Next Level Indiana Trust Fund Investment Board. Review the first progress report online at The Next Level Indiana Trust Fund was a key component of Gov. Holcomb’s 2017 Next Level legislative agenda and aims to build and support increased entrepreneurship and innovation in the state. Created by 2017 Indiana General Assembly, the fund was established by the Indiana Finance Authority as a charitable trust that operates separately from the state of Indiana. The board acts as the trustee for the fund. The fund uses a fund-of-funds approach with a policy that emphasizes good investment performance and growth in Indiana’s investment community and technology businesses.