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The IT industry makes up 35% of the world’s business market and has gone through gigantic growth in recent years. Every year, we witness new IT ideas being introduced and tons of businesses generating millions of dollars in this industry.
Well, Indiana is no exception. The state’s IT sector is booming, with exceptional growth in businesses that are solving modern tech problems. There are dozens of international VC firms that are actively investing in the state.
Ready to hop on to the list of top startup investors who fund Indiana-based IT startups?
Moving onto the list now.
Here's The List Of The Top 8 VC Firms in Indiana Who Invest in IT Startups
| Investor Name | Focused Sectors | Funding Stages | Notable Investments | Total Investments |
|---|---|---|---|---|
| Elevate Ventures | Software, Life Sciences, AI, Fintech, Medtech, IoT | Pre-Seed, Seed, Series A | IGS, CoverSight | 800+ |
| Hyde Park Venture Partners | SaaS, Fintech, Data Security, Marketplace | Pre-Seed, Seed, Series A | Audit Sight, Out Of Office, LandscapeHub | 160+ |
| Allos Ventures | SaaS, IoT, Enterprise Software | Seed, Early Stage | Sift Healthcare, Woven, Quiver Quantitative | 90+ |
| Flywheel Fund | Robotics, AR/VR, Quantum Computing, SaaS, Bioinformatics | Seed, Growth | Aerovy, Titlewise, Therapprove | 50+ |
| HG Ventures | AI, Fintech, Sustainability, Industrial, Healthcare | Seed, Growth | Romeo Power, 120 Water, Valerran | 30+ |
| Midwest.VC | IT, Data Security, User Experience | Early, Seed | Soil Connect, Third Wave Automation | 50+ |
| Heartland Ventures | B2B, Real Estate, Construction, AI, Robotics | Seed, Series A | Soil Connect, Third Wave Automation | 50+ |
| High Alpha | SaaS, IT | Early, Seed | DroneDeploy, Botkeeper, Docket | 100+ |
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
- Notable Investments: 800+
- Total Investments: IGS and CoverSight
Elevate Ventures is the biggest and most active venture capital firm based in Indianapolis. Founded in 2011, the firm focuses on investing in early-stage companies across various sectors, including software, life sciences, and hardtech.
As one of the biggest VC firms in the state, Elevate Ventures prefers to support startups that have high potential. The network typically invests in companies with a minimum Total Addressable Market of $500 million at the Pre-Seed, Seed, and Series A stages.
The investment range of Elevate Ventures can range up to $4M, depending upon the startup sector and its estimated ROI.
Hyde Park Venture Partners
- Contact: greg@hydeparkvp.com
- Website: Hyde Park Venture Partners - Mid-Continent Venture Capital (hydeparkvp.com)
- Focused Sectors: IT, SaaS, Fintech, Enterprise, Marketplace, Data Security
- Funding Stages: Early Stage, Seed, Pre-Seed, Series A
- Present in: Chicago, Indianapolis
- Notable Investments: Audit Sight, Out Of Office, LandscapeHub
- Total Investments: 160+
Hyde Park Venture Partners ( aka HPVP) is an early-stage venture capital firm primarily focused on high-growth technology startups in the Midwest.
The team of investors focuses on early-stage companies in the SaaS, marketplace, and tech-enabled sectors. They have a strong focus on businesses that have solid ideas and are providing sustainable and secure solutions in the IT sector.
The investment range of Hyde Park Ventures can range up to $500,000.
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 is also a famous venture capital firm based in Carmel, Indiana. The firm strongly focuses on early-stage investments in B2B software and technology-enabled service companies.
Founded in 2010, Allos Ventures has a strong focus on supporting high-growth enterprise startups. Every year, they organize many pitching competitions and usually fund 5-10 companies every year.
The investment range of Allos Ventures can go up to several million dollars, depending upon the business.
Flywheel Fund
- Contact: Contact — Flywheel Fund
- Website: Home — Flywheel Fund
- Focused Sectors: Robotics, Augmented Reality, Virtual Reality, Natural Language Processing, Computer Vision, Bioinformatics, Quantum Computing, Software as a Service, Infrastructure as a Service, DevOps, Big Data, Data Science
- Funding Stages: Seed, Growth
- Present in: Indiana
- Notable Investments: Aerovy, Titlewise, AfterSchool HQ, Flamel.ai, Grantcycle, Everewear, Terran Robotics, GeoH, Ziptility, Therapprove, Wicked Sheets
- Total Investments: 50+
Founded in 2014, Flywheel Fund is a venture capital firm that focuses on supporting entrepreneurs in building innovative solutions across various sectors.
They make most of their funding through pitching competitions, social platforms, startup fundraisers, and accelerators. Each year, Flywheel Fund makes 3-5 seed-staged investments. The investors have a knack for startups that are working in the macro-niches of IT and improving the overall user experience, data management, and security systems.
The investment range of Flywheel Fund can range up to $4M.
HG Ventures
- Contact: anston@hgaccelerator.com
- Website: Home - HG Ventures
- Focused Sectors: Notable Investments:Internet & Mobile, Climate & Sustainability, IoT, Fintech, AI & ML, Transportation, Industrial, Infrastructure, Energy, Healthcare, Education, Media & Entertainment, E-commerce, Cybersecurity, Agritech, Space, Robotics, Gaming, Consumer Tech, Biotech, Materials Science, Nanotechnology
- Funding Stages: Seed and Growth
- Present in: Indiana
- Notable Investments: Romeo Power Technology, 120 Water, Valerran
- Total Investments: 30+
Operating in Indiana's IT market for 6 years, HG Ventures is also an active VC firm that invests in a wide range of startups.
However, as time passed, HG Ventures also invested in many IT startups, especially those that are improving the field of data security in the tech space. Like most other VC firms, HG Ventures also wants to fund businesses that have huge chances of profitability and can easily secure 5-7x ROI within 36 months of investment.
Having dedicated teams in the mentorship panel, HG Ventures also focuses on the growth of their portfolio companies and provides them with expert assistance, especially when things aren't going in the right direction.
The investment range of HG Ventures can range up to $10M.
Midwest. VC
- Contact: Midwest.VC: Overview | LinkedIn
- Website: We Invest in Midwest based startups & tech companies: Midwest.VC
- Focused Sectors: IT, Tech, Data Security, User-experience
- Funding Stages: Early and Seed
- Present in: Indiana, Chicago, Denver, Wisconsin
- Notable Investments: TrueBill, OneSignal, Pair Eyewear
Founded in 2018, Midwest.VC is also an active venture capital firm that invests in many cities across the Midwestern region. The network usually focuses on early-stage investments and funds startups that have product-driven IT ideas.
When funding businesses, the investors from Midwest.VC follows many strict guidelines, investing in startups that have:
- Low competition product development ideas
- Having a strong growth potential with at least 5x ROI.
- Potential to operate on an international level.
Average check size of Midwest.VC can range up to $1M.
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
Heartland Ventures is an investment network with a unique model centered on connecting early-stage technology startups with corporate customers in the Midwest.
The firm partners with established Midwestern corporations. They usually make their investments by participating in startup fundraisers, accelerators, incubators, and organizing pitching competitions.
Every year, Heartland Ventures makes 3-7 investments in the Midwestern region and has a growing presence with an aim to invest all over the US. The investment range of Heartland Ventures can range up to $3M.
High Alpha
- Website: High Alpha | A B2B SaaS Venture Firm
- Focused Sectors: IT
- Funding Stages: Early and Seed
- Present in: Indiana
- Notable Investments: DroneDeploy, Botkeeper, Docket
- Total Investments: 100+
High Alpha is a unique venture studio and investment firm based in Indianapolis, Indiana. Founded in 2012 by Scott Dorsey, High Alpha has founded and invested in a huge number of businesses. Rather than simply investing in existing startups, High Alpha actively identifies market opportunities and develops new companies from the base level.
They prefer businesses that are led by experienced founders and have a solid-growth plan to boost their growth.
The investment range of High-Alpha can range up to $2M.
Wrap-Up:
Done reading the list of the top VC firms in Indiana?
Well, before we wrap up, let us give you some final words of wisdom to help you secure an investment from VC firms.
Unlike individual investors, VC firms usually like to partner up for bigger deals and prefer startups with a higher ROI. When preparing for a presentation, work on the profitability sector of your business, identify why it’s worth the funding, and include market statistics to make the presentation sound powerful.