Indianapolis-based Elevate Ventures is touting a record year. The organization says it pumped nearly $8 million into early-stage companies in 2014 and helped secure around $13 million from co-investors. Elevate also launched the Indiana Seed Fund last year and re-opened a matching funds program. January 12, 2015

News Release

INDIANAPOLIS, Ind. – Elevate Ventures, an Indianapolis-based venture development organization, reported record investment activity, program launches and partnerships in 2014.

“We had a very busy and productive year, and really took steps to understand communities' needs and create win-win solutions to stimulate and support entrepreneurial infrastructure-building activities,” said Ting Gootee, Elevate Ventures' Chief Investment Officer. “It's a multi-pronged and customizable approach. With enough sparks in our networks, our belief is that combustion will happen sooner rather than later.”

The record-breaking activities include:

-Completed 24 seed and early-stage investment transactions, with a total of $7.8 million invested and nearly $13 million co-invested from other sources.

-Launched the Indiana Seed Fund fund-of-funds co-investment program, with participation from seven Indiana fund managers and organized angel groups. Additional groups are expected to qualify in 2015.

-Re-opened the state's SBIR/STTR Phase I matching funds program. The program qualified 23 state matching grants for 20 Indiana companies, with an additional $4.14 million in federal grant awards directed to these Indiana companies by federal agencies. The matching program operates in conjunction with SBIR assistance provided in partnership with the State of Indiana's Office of Small Business and Entrepreneurship.

-Hosted two investor roadshows aiming to connect the best Indiana companies with regional and national venture capital firms in Indianapolis and Chicago respectively. Through these events, Elevate connected more than 75 Indiana companies and institutional investors combined in which over 150 quality meetings took place. More than $10 million in term sheets and investment interest have already followed.

-Formal partnerships were also operationalized with Velocity, an accelerator program based in Jeffersonville, IN, and with the Purdue Foundry for the delivery of Entrepreneur-in-Residence services and the launch of the $2 million Elevate Purdue Foundry Fund targeting Purdue Foundry affiliated seed-stage companies.

Elevate Ventures is supported by the Indiana Economic Development Corporation, community foundations, and major corporate and individual donors throughout the State of Indiana. Elevate Ventures' direct investment portfolio includes over 40 companies, with nearly $27 million invested and over $173 million co-invested since 2010. Notable portfolio companies that won recent regional and national recognition include, Policystat, Emerging Threats, SteadyServ, CloudOne, Vennli, Curvo, ImmuneWorks, Fast BioMedical, Wellfount, and Spensa Technologies, just to name a few.


Elevate Ventures nurtures and develops emerging and existing high-potential businesses into high-performing, Indiana-based companies. To learn more about its team and funds under management, visit

Source: Elevate Ventures

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