Ohio State, Ohio universities happy with many-pronged returns of joint VC fund

The public universities that created an Ohio-focused venture capital firm are considering a second fund after the first achieved their goals – not just financial returns, but fostering tech startups in the state and creating jobs for their graduates. The Ohio Innovation Fund is on track to return five times what limited partners put into it, averaging a 30% annual return in the five years since the Columbus firm started investing, Managing Director Bill Baumel told Columbus Business First last…