Invested in Maryland: Alumnus Helps Create Value for University System’s Entrepreneurs

Mike Ravenscroft, MBA ’21, knows there is value in community. It’s why he’s passionate about working with the University System of Maryland’s entrepreneurs and technologists, and why he gives his time to help students at the Robert H. Smith School of Business build careers in startups and venture capital.

Ravenscroft is doing that, in part, as the managing director of the University System of Maryland Momentum Fund. He is a believer that success comes from following your interests, and it’s why, after beginning his career in consulting and spending several years on investment teams and running startup accelerator programs, he joined the Maryland Momentum Fund.

“During my MBA at Smith, I discovered the potential in Maryland’s startup ecosystem. I connected with Maryland alums who were technology founders and who were in venture capital helping finance early-stage startups. I learned about the strength of the Maryland network beyond our immediate ecosystem, and I realized there was a lot I could learn and contribute by being an active member of it.”

Ravenscroft is responsible for sourcing and vetting companies for potential investment and manages the existing Momentum Fund portfolio of over 30 companies. Through his role, he supports the fund’s mission of creating value for University System of Maryland stakeholders by investing in the entrepreneurs and ventures that come out of the university system.

Through the Momentum Fund, Ravenscroft supports alumni from all 12 schools in the system, including the University of Maryland (UMD), College Park, who are interested in getting a new company off the ground. He also supports faculty members who are seeking to commercialize intellectual property developed at university research labs, and he is actively involved with the technology transfer teams at UMD and other schools in the system.

Ravenscroft considered working at the Momentum Fund a unique opportunity to create value for a university system that he regards as truly exceptional. This past year, he launched a program to help students secure internships with venture capital (VC) firms in the region, a program that includes upskilling and supporting students with network development to help them get started in their VC careers. Ravenscroft hopes to expand the program this fall by placing more students in internships and increasing the opportunities for students to build connections and gain VC experience through the program.

“Not a lot of universities do what we are doing,” Ravenscroft says. “It’s exciting work because we’re creating value not only for our alumni and our students, but also for our faculty technologists who are working on scientific breakthroughs and supporting them as they look to commercialize their inventions. It gives us the ability to invest in groundbreaking innovations ranging from life sciences to artificial intelligence to climate technology.”

Ravenscroft learned early in his career that he wanted to work with startup founders.

“The moment I started working with startups, I just thought, ‘This is the most dynamic, fun and exciting type of business I’ve ever encountered,” Ravenscroft says. “I knew that this is what I want to do with my career.”

While a student in the full-time MBA program at Smith, Ravenscroft worked with the Dingman Center for Entrepreneurship and supported the UMD Director of Venture Investments in running the Dingman Center Angels Network. The emphasis on entrepreneurship and providing direct support to entrepreneurs is one of the primary things that drew him to the Smith School.

Though his job keeps him in touch with his alma mater, he also devotes much of his personal time to helping Smith students with their career strategies. He has mentored students in the Terp Startup Accelerator program and regularly runs sessions for the Pitch Dingman Competition. “I love supporting Terp entrepreneurs because it’s fun and I genuinely enjoy it,” he says. “The school did a lot for me, I had an amazing time there and I love giving back to help the next generation of founders build their ventures.”

“I think that I'm doing the thing that I think all alumni should do, which is to be active, involved, engaged and giving back,” he says, adding that he has been working with Neta Moye, assistant dean and executive director of the Office of Career Services, to do more outreach among his MBA peers. Ravenscroft feels there is a real community among his former classmates as well as in the general alumni community.

For Ravenscroft, it all comes back to helping the next generation of business leaders, and he says the advice he shares with students is what he has followed throughout his own career: “Follow your interests and find great people to work with.”