TLDR:
- Elevate Ventures released its annual report for 2023, showing $21.7 million in commitments through 112 deals.
- Despite a decrease in investment numbers compared to the previous year, 74% of companies that Elevate invests in received follow-up funding.
Indianapolis-based Elevate Ventures released its annual report for 2023, highlighting the VC activity for the year. CEO Christopher Day mentioned that while investments were down from the previous year, 2023 saw a “tremendous growth” for the venture studio. Elevate Ventures made $21.7 million in commitments through 112 deals, leveraging nearly $166 million in additional capital investments. The report also noted that 74% of companies that Elevate invests in received follow-up funding.
Since its founding in 2011, Elevate Ventures has supported the creation of more than 52,000 jobs with an average annual payroll tax revenue of over $21.5 million. The average wage of Elevate’s portfolio companies in 2023 was $92,000, exceeding Indiana’s average wage of $55,500. The report highlighted that Elevate has invested over $171 million since 2011, with the majority of investments in central Indiana.
Elevate Ventures also celebrated the success of its Rally Innovation Conference in 2023, which led to creative collaborations and new funding opportunities. The event drew over 3,100 attendees and resulted in more than 21,000 creative collisions. Companies like Vital View Technologies benefited from the conference, securing a $5.5 million funding round after connecting with potential investors at Rally.
