Top Indiana Biotech Investors

When talking about the biotech sector and its growth, we often hear about cities like California and Massachusetts.

While it's true that both of these cities have numerous Biotech unicorns, experts have also predicted Indiana to be among the top biotech hubs in the coming years. 

Similarly, Indiana has also secured a $50M grant by the government and many well-known VC firms have started investing in the state. 

To help you secure funding from these investors and save time from extensive research, we have come up with the following list of top startup investors in Indiana who fund biotech startups.

Here Are The Top Startup Investors in Indiana Who Fund Biotech Startups

On to the list now!

Allos Ventures

• Contact: Contact — Allos Ventures
• Website: About — Allos Ventures 
• Focused Sectors: IOT, Enterprise, SaaS
• Funding Stages: Cincinnati, Indianapolis
• Present in: Indiana
• Notable Investments: Sift Healthcare, Woven, Quiver Quantitative
• Total Investments: 90+

Allos Ventures, based in Carmel, Indiana, specializes in early-stage investments in technology-enabled companies. Since its founding in 2010, it has supported over 90 startups, prioritizing those with high growth potential and innovative solutions.

Once they have funded a startup, their mentorship team arranges brief workshops and business lectures to help the founders make it big in the industry. The average check size of Allos Ventures can range up to 1M for biotech startups. 

Boomerang VC

• Contact: hello@boomerang.vc
• Website: About Boomerang Ventures
• Focused Sectors: Biotech and Healthcare
• Funding Stages: Early
• Present in: Indiana
• Notable Investments: Mentavi Health, Flyte, Primary Record, Xploro, Geaoh, Respiratory Health Tech

Funding startups for half a decade, Boomerang VC is also an active venture capitalist. 

Like most other venture capital firms, Boomerang Ventures is committed to shaping the future of biotech by partnering with innovative startups. The team of investors is highly experienced and only invests in businesses that can at least generate 7x ROI within 36 months of funding.

The investment range of Boomerang VC can range up to $700,000.

IU Ventures

• Contact: Contact IU Ventures
• Website: IU Ventures | Indiana University Investment Opportunities
• Focused Sectors: Cleantech, Edtech, Biotech, Medtech, Security, Climatetech, and Fintech
• Funding Stages: Early
• Present in: Indiana
• Notable Investments: Confluence Pharmaceuticals, NERx Biosciences, Scioto Biosciences, OpenInsights, vascugen, MBX Biosciences, ZIPTILITY, nucurrent, Qumulex, Amplified Sciences, KOVINA THERAPEUTICS INC, folia, boardable, Stagetime, in Tandem Health, adipoo, metacX, Hot Mic, LEAP, MONUMENT

IU Ventures is also a famous investor that operates within the state of Indiana. Unlike regular VC firms, IU Ventures serves as a dynamic platform for alumni, faculty, students, and friends of Indiana University to engage with early-stage IU-affiliated startup companies. They also help students discover the latest solutions in the biotech space and fund startups that have the highest growth potential.

They have a wide range of investment programs, including the 

• IU Angel Network: Helps in connecting accredited investors to exclusive early-stage deals
• The IU Philanthropic Venture Fund: A program that allows donors to make tax-deductible contributions to support faculty, student, and alumni innovation
• The IU Founders & Funders Network: A program that facilitates connections, mentorship, and educational content within the entrepreneurial community.

They usually invest in their top-ranked startup ideas anywhere from around $50,000 to $450,000.

VisionTech Ventures

• Contact: tpetrucciani@visiontech-partners.com 
• Website: VisionTech Partners – Smarter Capital. Better Results. (visiontech-partners.com)
• Focused Sectors: Advanced Sciences, Life Sciences, Sports Tech, Medtech, Energy, Electronics, Biotech, Cleantech, Fintech, Data Security, B2B SaaS 
• Funding Stages: Early and Seed
• Present in: Indiana
• Notable Investments: Fiber X , Mentavi, Laxis, Flutre, Amplified Sciences, Nuvox, Adipo, Geoh, Botanisol Analytics, Canauri, Nexosome Oncology, Epilogue Systems, Safekeeping, Triolabs

Founded in 2015, VisionTech Ventures is a well-known venture capital firm that invests in Indiana-based biotech companies. The network's mission centers on supporting early-stage tech startups headquartered in the Midwest.

The investors usually target startups that are solving the modern problems in biotech such as gene editing and therapy. They look for founders who are developing tailored therapies based on individual genetic makeup and disease profiles. 

The investment range of VisionTech Ventures can range up to $5M.

Omnidollar Investments

• Website: Invest with Omnidollar Ventures' Syndicate | AngelList
• Focused Sectors: Digital Biotechnology, Pharmaceuticals, Medical Devices, Diagnostics, Industrial Biotechnology, Environmental Biotechnology, Marine Biotechnology, Discovery, Vaccine Development, Clinical Research, Biotechnology Services, Bioinformatics, Medical Imaging, Telemedicine
• Funding Stages: Early and Seed Stages
• Present in: Indiana
• Notable Investments: Locker, Edge Sound Research, Happied, and Beastcoast, F2K Gaming

Omnidollar Investments is a venture capital investment firm based in Indianapolis and has made over a dozen investments. 

Founded in 2020 by Myles Grote, Omnidollar focuses on early-stage investments, particularly in the sports, fitness, and wellness tech sectors. The network prioritizes businesses that are dealing in the macroniche of biomarket development and regenerative medicine. The investors look for founders who are identifying early indicators of disease and are creating transplantation tech.

Although Omnidollar Investments hasn't mentioned their investment range, most of their portfolio companies have closed deals of around $2M.

Elevate Ventures

• Contact: Elevate Ventures: Overview | LinkedIn
• Website: Elevate Ventures
• Focused Sectors: Software, Life Sciences, Hardtech, Cleantech, Fintech, Agritech, Medtech, Biotech, Artificial Intelligence, Cybersecurity, Internet of Things, E-commerce, Healthcare, Education, Energy, Manufacturing, Logistics, Consumer Products, Financial Services
• Funding Stages: Early-stage (Pre-Seed, Seed, Series A)
• Present in: Indiana, USA
• Total Investments: IGS, Authenticx, Afterschool, Insignium AgTech, Wicked Technologies, Folia, 120 Water, AccuPS, Acoustical Music Tech, Adipo Therapeutics, Adranos, Aero Flux, Airoma, Allera Tech, Akanocure Pharmaceuticals and CoverSight

Known as the most active VC firm in the tech landscape, Elevate Ventures also supports the biotech sector of Indiana. Founded in 2011, the VC firm has invested in dozens of biotech businesses.

Aside from capital investing, Elevate VC provides value-added services, mentorship, and strategic guidance to founders. The investment team usually focuses on startups headquartered in Indiana and are at the Pre-Seed, Seed, and Series A stages.

Similarly, when investing in businesses, Elevate VC funds startups that have a high-growth potential and a low competition. They prefer startups that can at least generate 5x ROI within 24 months of investment and have a minimum Total Addressable Market of $500 million.

The investment range of Elevate Ventures can range up to $4M. 

Heartland Ventures

• Website: Heartland Ventures - Silicon Valley startups expanding into the Heartland (heartlandvc.com)
• Focused Sectors: IT, B2B, Real Estate, Construction, Manufacturing, Logistics, Agritech, FinTech, HealthTech, EdTech, CleanTech, E-commerce, Cybersecurity, Artificial Intelligence, Machine Learning, Data Analytics, Cloud Computing, Internet of Things, Robotics, Automation, Supply Chain, Biotechnology, FoodTech, Renewable Energy, Smart Cities
• Funding Stages: Seed, Series A
• Present in: Indiana
• Notable Investments: Soil Connect, Third Wave Automation, Linked Field

Investing in the biotech sector for the past 6 years, Heartland Ventures is also an active VC firm. Founded by Max Brickman in 2016, Heartland Ventures was founded with a strong focus on the tech scene but in recent years, they have extended their funding support towards the Indiana-biotech scene.

When making the investments, the founders from Heartland Ventures prefer to fund businesses that have a strong plan, low-competition idea, and are led by experienced founders. 

The investment range of Heartland Ventures can range up to $3M.

Wrap-Up:

In short, there are many VC firms in Indiana who are supporting the biotech ecosystem. However, as a founder, you still need to do ample research and pitch in the best way.

Generally, most biotech investors in Indiana are looking for startups that can solve modern problems. They want to invest in innovative ideas, such as gene editing, drug discovery, Bioremediation, manufacturing, and so on.

Before pitching to investors, we would recommend you to see some pitch deck examples and create a pitch by:

• Adding the latest market standings of your business
• Incorporating your company’s financial achievements and mention the total addressable market figures
• Linking a short story about what motivated you to start your business