The chief executive officer of Indianapolis-based Elevate Ventures will soon be stepping down. The organization says Chris LaMothe, who has served in the role since 2015, will leave in March to “pursue a variety of ventures.”
Elevate says during LaMothe’s tenure, the organization has grown to 16 funds with $150 million in assets under management and has invested nearly $125 million in about 450 startups.
The organization has also formed five regional partnerships with entrepreneurship support organizations and launched Elevate Nexus with the goal of encouraging innovation and entrepreneurship programming at higher education institutions throughout the state.
“We are grateful for Chris’ leadership and the team he built and shepherded,” Elevate Chairman Robert Myer said in a news release. “Through his vision, Elevate has generated great economic impact from its investments in startups as well as its venture development activities. We are primed for continued growth and have formed a search committee for the difficult task of finding a successor.”
LaMothe’s last day at Elevate will be March 31.