General Business
On Jun 12, 2025
Rowan Innovation Venture Fund (RIVF) today announced the appointment of Garden State Venture Partners (GSVP) as its new management team.
The GSVP leadership team is comprised of three Rowan alumni, including Michael Connallon, Jr., who brings 24 years of experience in global financial services, including leadership roles at JPMorgan Chase, where he advised highly sophisticated institutional investors, following years at Goldman Sachs and Deutsche Bank. Shawn Hill has two decades of venture capital and private equity management positions, including Partner at Moderne Ventures, Venture Partner at Polymath Ventures, and management positions at Constellation Software, one of Canada’s largest private equity firms. Connallon and Hill join Ernie Holtzheimer, a distinguished corporate and securities attorney and partner at Eckert Seamans Cherin & Mellott, LLC, who has managed RIVF since 2020.
Connallon says, “this team brings deep venture experience and industry operational expertise with plans to scale the fund’s value and strengthen commercial pathways for university-led research and technology. Through GSVP’s global network, we will attract new co-investment partners for RIVF portfolio companies who are mission-aligned and impact-driven, engaging businesses and investors in a soon-to-be-announced Fund that will allow for larger, later-stage funding rounds.”
“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,” said Dr. Ali Houshmand, president of Rowan University. “This collaboration will give entrepreneurs and researchers across New Jersey much needed access to capital, expertise and guidance.”
“This started as a Rowan effort but is quickly growing to have impact across the state. With the expansion of resources within RIVF we are doubling down on our commitment to support bold founders and accelerate innovation across New Jersey,” said Holtzheimer. “The opportunities ahead are significant,” adds Hill, “this is just the beginning. Over the coming months, we will be announcing new partnerships, investment strategies and ways we plan to scale our reach across the state.”
Rowan Innovation Venture Fund (RIVF) currently manages 18 active investments in the life sciences, biotechnology, software development, telecommunications and food and beverage sectors. Launched with $5 million commitment in 2014 to seed visionary start-up ideas, RIVF received an additional $20 million commitment in 2022 to back a pipeline of evolving businesses from within and outside the Rowan University community.
Garden State Venture Partners (GSVP) is a next-gen venture capital firm built to attract and retain companies and talent within the state of New Jersey.
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