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Garden State Venture Partners (GSVP) is a venture capital firm established to bolster the innovation ecosystem in New Jersey. Founded with the mission to attract and retain companies and talent within the state, GSVP focuses on investing in transformative technologies that catalyze economic growth. The firm manages the Rowan Innovation Venture Fund (RIVF) and its own investments, emphasizing the importance of local partnerships.
GSVP has a total of $25 million under management, with the RIVF being a significant component of this amount. The fund was initially launched with a $5 million commitment in 2014, followed by an additional $20 million in 2022. The firm is headquartered in New Jersey and collaborates closely with local universities, government agencies, and corporations to enhance the commercialization of research and foster economic development.
Notable milestones include GSVP's involvement in the MedTech Strategic Innovation Center and the Maternal and Infant Health Innovation Center, both of which aim to position New Jersey as a national hub for health technology and equity. The firm is recognized for its commitment to expanding access to innovation capital within the state.
GSVP invests primarily in transformative technologies, with a strong emphasis on sectors such as life sciences, biotechnology, software development, telecommunications, food and beverage, and medical technology. The firm targets early to later-stage investments, aligning with its mission to unify efforts across New Jersey's innovation landscape. GSVP actively collaborates with local universities, government agencies, and corporations to facilitate the commercialization of research and drive economic development.
The firm is particularly focused on health technology and equity, as evidenced by its recent initiatives in medtech and maternal health. GSVP's investment strategy includes a commitment to expanding access to innovation capital, ensuring that startups in New Jersey have the resources they need to thrive. The firm is also developing a new fund aimed at facilitating larger, later-stage funding rounds, which will further enhance its investment capabilities.
Garden State Venture Partners manages the Rowan Innovation Venture Fund (RIVF), which currently has 18 active investments across various sectors. While specific portfolio company names are not publicly disclosed, the fund's focus areas include:
The RIVF is notable for being among only approximately 5% of U.S. higher education institutions managing venture funds at this scale. GSVP's commitment to transformative technologies positions it as a key player in New Jersey's innovation ecosystem.
Michael Connallon, Jr. - Co-founder and Managing Partner. Connallon has 24 years of experience in global financial services, having previously worked at JPMorgan Chase, Goldman Sachs, and Deutsche Bank. He brings a wealth of expertise in investment strategy and financial management.
Shawn Hill - Co-founder and Managing Partner. Hill has 20 years of experience in venture capital and private equity, previously serving as a Partner at Moderne Ventures and a Venture Partner at Polymath Ventures. His background includes a strong focus on technology investments.
Ernie Holtzheimer - Co-founder and Managing Partner. Holtzheimer is a corporate and securities attorney and has been a Partner at Eckert Seamans Cherin & Mellott. He has managed the Rowan Innovation Venture Fund since 2020, contributing legal and strategic insights to the firm.
To pitch Garden State Venture Partners, founders should use the email contact@gsvpvc.com. A well-structured pitch deck is essential, including details about the business model, market opportunity, and team qualifications. GSVP prefers to receive pitches via email and typically responds within a few weeks.
Warm introductions are beneficial but not mandatory. Founders should ensure their pitch clearly aligns with GSVP's focus on transformative technologies and economic growth in New Jersey.
In July 2025, Garden State Venture Partners committed $7 million in seed and later-stage investments to commercialize medtech startups through the MedTech Strategic Innovation Center, in partnership with Rowan University, NJEDA, Cooper University Health Care, and Plug and Play.
Additionally, GSVP participated in the establishment of the Maternal and Infant Health Innovation Center in Trenton, NJ, which received $12.5 million in funding from NJEDA, confirmed in January 2026. This initiative is part of a larger coordinated effort that has announced over $100 million in public-private investment, positioning New Jersey as a national hub for health technology and equity.
What are GSVP's investment criteria?
GSVP focuses on transformative technologies across various sectors, including life sciences, biotechnology, and medical technology. The firm seeks to invest in companies that can drive economic growth and innovation within New Jersey.
How can I pitch to GSVP?
Founders can reach out via email at contact@gsvpvc.com. It is advisable to include a detailed pitch deck that outlines the business model, market opportunity, and team background.
What makes GSVP different from other venture capital firms?
GSVP is uniquely focused on enhancing New Jersey's innovation ecosystem. The firm collaborates closely with local universities and government agencies, which allows it to leverage public-private partnerships effectively.
What is the geographic scope of GSVP's investments?
GSVP primarily invests in companies located in New Jersey, aiming to retain talent and companies within the state while fostering local economic development.
What is the size of GSVP's funds?
The firm manages a total of $25 million through the Rowan Innovation Venture Fund, with plans to launch a new fund for larger, later-stage investments.
What kind of support do portfolio companies receive?
GSVP provides operational support, mentorship, and access to a network of local universities and industry partners, enhancing the growth potential of its portfolio companies.
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