Rowan Foundation names chair for innovation venture fund board

Connallon

The Rowan University Foundation Board Nov. 3 named Michael Connallon Jr. chair of the Rowan Innovation Venture Fund (RIVF).

The in-house venture capital arm was created in 2014 to seed promising startups. Over the summer, the fund received an additional $20 million infusion to grow the portfolio of scalable businesses from within and outside of the Rowan University community, as reported by NJBIZ.

Connallon, who serves as executive director and senior relationship manager with JPMorgan Chase & Co.’s Agency Securities Finance business, has been a member of the Rowan University Foundation board since 2018 and a member of the RIVF board since 2021. The 2000 Rowan graduate in business administration and finance has more than 20 years’ experience in the securities financing industry, driving business growth in New York, London and Hong Kong.

Rowan University students discuss business startups, some of which could receive Rowan Innovation Venture funding, during the New Venture Competition & Expo at Rowan’s Business Hall in April. – ROWAN UNIVERSITY

“The RIVF is about helping the region economically,” said Connallon. “I look forward to applying my years of experience in finance and my knowledge of the University’s entrepreneurial culture to identify the best opportunities to invest in businesses with strong potential for growth.”

The RIVF has seeded 14 South Jersey-based and regional startups since 2018, many launched by university students and faculty, including HALFDAY Tonics, ExpressCells and MRIMath.

Rowan University President Ali Houshmand said Connallon’s background in finance and entrepreneurial mindset, along with his experience with both the Foundation and RIVF, makes him a natural choice for the role.

“With the recent infusion of $20 million of additional funding, the RIVF is poised to make a tremendous impact on promising businesses across our region,” said Houshmand. “The funding team that elevates these projects is very strong and we’re grateful to Mike for taking on this initiative for his alma mater. As businesses succeed, we expect the impact of our fund to grow even more.”