TLDR: Indiana Partners with Elevate Ventures to Launch First $100M Growth Stage Fund
Key Points:
- Indiana announces a new $100M fund focused on innovation-driven growth stage companies.
- The Elevate Ventures Growth Fund will be anchored by a $25M commitment and aims to raise an additional $75M through the private market.
Indiana Governor Eric J. Holcomb, Secretary of Commerce David Rosenberg, and Elevate Ventures CEO Christopher Day have unveiled a new $100M fund aimed at supporting cross-sector innovation-driven growth stage companies with a total addressable market of $500M or greater. The fund, named the Elevate Ventures Growth Fund, will be anchored by a $25M commitment from Elevate Ventures and plans to raise an additional $75M through private market investments.
Governor Holcomb expressed excitement about the launch, highlighting the state’s strong venture activity and the potential for innovative businesses to thrive. Elevate Ventures, ranked as one of the most active venture capital investors globally, has committed millions in capital to Indiana startups and aims to boost the state’s entrepreneurial ecosystem through the new fund.
With plans to commence fund formation soon and make initial investments in 2025, Elevate Ventures also announced the upcoming 2nd annual Rally, a global innovation festival and pitch competition set to take place in Indiana. Secretary of Commerce David Rosenberg emphasized Indiana’s momentum in supporting entrepreneurship and driving high-paying jobs to prepare the workforce for the modern economy.
