New Jersey is a state built on innovation, a place where groundbreaking ideas transform into reality, shaping industries and improving lives. At Explore New Jersey, we’re always excited to highlight the cutting-edge advancements happening right here in the Garden State, and today, we’re turning our attention to a significant development that promises to accelerate our state’s innovative spirit: Rowan University’s bold new step in fostering groundbreaking ventures!
A New Chapter for Innovation: Rowan University and Garden State Venture Partners
Rowan University has long been a beacon of academic excellence and research, but its commitment extends far beyond the classroom. On June 13, 2025, the Rowan Innovation Venture Fund (RIVF) announced a pivotal decision: naming Garden State Venture Partners (GSVP) as its new management team. This isn’t just a change in leadership; it’s a strategic expansion designed to propel the fund into its next phase of impactful innovation.
This collaboration brings together a powerhouse team of experienced investment and institutional professionals, many of whom have deep roots in the Rowan community. Imagine the synergy of talent and expertise now dedicated to nurturing the next generation of New Jersey’s leading startups!
The Dream Team: Rowan Alumni Leading the Charge
The GSVP leadership team is composed of three distinguished Rowan alumni, bringing a wealth of diverse experience to the table:
- Michael Connallon, Jr.: With 24 years of experience in global financial services, including significant leadership roles at JPMorgan Chase where he advised highly sophisticated institutional investors, Connallon brings unparalleled financial acumen. His past experience at Goldman Sachs and Deutsche Bank further solidifies his expertise in navigating complex financial landscapes.
- Shawn Hill: Hill boasts two decades of impressive experience in venture capital and private equity management. His background includes serving as a partner at Moderne Ventures, a Venture Partner at Polymath Ventures, and holding key management positions at Constellation Software, one of Canada’s largest private equity firms. His insight into scaling new businesses is invaluable.
- Ernie Holtzheimer: No stranger to the RIVF, Holtzheimer has managed the fund since 2020. As a corporate and securities attorney and partner at Eckert Seamans Cherin & Mellott, he brings a strong legal and strategic foundation to the team.
This combination of deep venture experience, industry operational expertise, and established leadership creates a formidable force ready to supercharge New Jersey’s innovation ecosystem.
Accelerating Success: Impact on New Jersey Startups and Beyond
Dr. Ali Houshmand, president of Rowan University, perfectly encapsulates the vision behind this partnership: “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.” This collaboration is a game-changer, promising much-needed access to capital, expertise, and guidance for entrepreneurs and researchers across New Jersey.
Connallon emphasizes that this new team plans to “scale the fund’s value and strengthen commercial pathways for university-led research and technology.” Through GSVP’s extensive global network, they aim to attract new, mission-aligned, and impact-driven co-investment partners for RIVF’s portfolio companies. This strategic move will also pave the way for a soon-to-be-announced fund designed to facilitate larger, later-stage funding rounds – a critical step for growing innovative New Jersey businesses.
Holtzheimer reiterated the strengthened commitment, stating that “with the expansion of resources within RIVF we are doubling down on our commitment to support bold founders and accelerate innovation across New Jersey.” Shawn Hill added that over the coming months, they will be unveiling new partnerships, investment strategies, and expanded reach across the state.
A Legacy of Vision: The Rowan Innovation Venture Fund
The Rowan Innovation Venture Fund already boasts an impressive track record, managing 18 investments across vital sectors such as life sciences, biotechnology, software development, telecommunications, and food and beverage. Launched in 2014 with an initial $5 million commitment to seed visionary startup ideas, RIVF received an additional $20 million commitment in 2022. This expanded funding was designed to back a growing pipeline of evolving businesses, both from within and outside the Rowan University community.
This latest move with Garden State Venture Partners signifies an exciting new chapter for the RIVF and, more broadly, for the entire state of New Jersey. It underscores a powerful commitment to nurturing talent, fostering groundbreaking research, and transforming innovative ideas into successful enterprises right here in the Garden State.
Want to stay at the forefront of New Jersey’s most exciting technological advancements, business developments, and innovative ventures? Explore our Cutting Edge section for the latest news and insights!
Generate Audio Overview