Rowan Innovation Venture Fund Names New Leadership Team

Rowan Innovation Venture Fund Thursday named Garden State Venture Partners as its new management team. This leadership expansion brings together experienced investment and institutional professionals to lead the fund into its next phase of innovation and impact.

The GSVP leadership team is composed of three Rowan alumni. Michael Connallon, Jr., brings 24 years of experience in global financial services, including leadership roles at JPMorgan Chase, where he advised highly sophisticated institutional investors. 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 corporate and securities attorney and partner at Eckert Seamans Cherin & Mellott, who has managed Rowan Innovation Venture Fund since 2020.

“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.”

Connallon, whose previous experience includes stints at Goldman Sachs and Deutsche Bank. said, “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.”

Holtzheimer added 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.”

Hill said that over the coming months, they will be announcing new partnerships, investment strategies, and ways they plan to scale their reach across the state.

The Rowan Innovation Venture Fund manages 18 investments in the life sciences, biotechnology, software development, telecommunications, and food and beverage sectors. It was launched with a $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.