Miami’s RedHawk plunders for $1.5m fund

Miami University is to raise a $1.5m VC fund through its student-led venture capital arm, RedHawk Ventures, that will back promising student and alumni-run businesses.
RedHawk will begin raising the funds during the forthcoming academic year. It hopes to enrich the professional development of its student investment team, while also extending the supply of early-stage capital for university-affiliated businesses.
Founded in 1997, RedHawk Ventures is entirely run by undergraduate students who have completed its 5-week VC traineeship and can therefore implement their education in practice.
The unit backs businesses where at least one equity holder with at least 5% interest is an active student or has graduated from Miami within the past eight years. In addition to funding, investees receive access to a number of university resources.
RedHawk Ventures recently introduced a new curriculum for incoming members of investment team, covering areas including the VC model, due diligence and the general implications of venture funding.
Portfolio companies of the fund include outdoor apparel brand Oros, mortgage savings platform Digs and clothing e-commerce outlet Routinely.
Laura Mena, co-managing director of RedHawk Ventures, said: “We decided to raise this new fund because RedHawk Ventures has given us so much in terms of professional development and knowledge of venture capital.”
“When our organisation was founded we were one of the only student-managed funds in the country. But even today with new university funds coming to the surface, undergraduate education in venture capital is still pretty rare.”