Elevate Ventures is a not-for-profit organization based in Indiana that nurtures and develops emerging and existing high-potential businesses into high-performing Indiana-based companies. It conducts rigorous business analysis and provides robust advisory services, connecting companies with resources needed for long-term success. Beyond capital, Elevate Ventures partners with entrepreneurs, investors, and local and state organizations to address barriers such as management, business development, talent identification and retention, and technology development challenges. The organization emphasizes unbiased, in-depth perspectives and objective recommendations through a seasoned staff and external partners, supporting growth, job creation, and economic development in Indiana. It seeks ventures identifying marketplace needs and capable of transitioning from research to product development to market, aiming to sustain business success over time.

High Alpha is an Indiana-based venture studio and early-stage investor focused on B2B SaaS. Headquartered in Indianapolis, it builds and scales business-to-business software companies by combining studio services—design, finance, talent, marketing, branding, and go-to-market—with capital support to create enterprise-scale ventures. Founded in 2015, the firm concentrates on early-stage software and SaaS opportunities in the United States.

Allos Ventures is a venture capital firm based in Carmel, Indiana, that provides early-stage funding to business-to-business software and technology-enabled service companies in the Midwest. Founded in 2010, the firm partners with entrepreneurs to help portfolio companies accelerate growth and create value. It focuses on U.S. opportunities in software and information technology sectors and typically makes minority stake investments in Midwest-based startups.

Collina Ventures is a venture capital firm based in Carmel, Indiana. It makes minority investments in technology companies across seed, early, and later stages, with an emphasis on software and technology sectors in Central Indiana.

IU Ventures is the corporate venture capital arm of Indiana University, based in Bloomington, Indiana. It supports the university community by providing strategic investment and resources to pursue new venture opportunities, including assistance to students, faculty, staff, and alumni seeking to develop startups. The organization targets investments in business-to-business, healthcare, and technology sectors, aiming to connect aspiring ventures with university expertise and networks, and to foster entrepreneurship within the IU ecosystem.

Established in 1985, this organization supports early-stage commercialization and financing for innovative technologies, entrepreneurs, and companies within Virginia. It focuses on seed funding and assisting innovators to launch new businesses, create high-paying jobs, and stimulate economic growth across the state.

VisionTech Partners is an angel investment group based in Indianapolis that backs early-stage and growth technology companies in Indiana and the Midwest. It focuses on sectors including life sciences, software as a service, Internet of Things, advanced materials, supply chain, and hardware. The group seeks strong management teams pursuing funding rounds of roughly $200,000 to $1 million in convertible debt or equity, with pre-money valuations under $10 million. Ideal portfolio companies are within 12 months of breakeven or have a clear plan to reach a Series A and demonstrate milestones, with an exit horizon of three to seven years. The firm emphasizes companies with novel products or services and clear competitive advantages in large markets.

Heron Capital is a venture capital investment firm based in Indianapolis, Indiana, specializing in life sciences investments including therapeutic medical devices, diagnostics, and healthcare services. The firm targets mid- to growth-stage companies in the United States and Canada, aiming to back ventures with strong intellectual property and high-quality management. It leverages a network of scientists, physicians, and experienced entrepreneurs and corporate leaders to identify commercially promising opportunities and to support portfolio companies as they scale.

Charmides Capital is a venture capital investment firm based in Carmel, Indiana, founded in 2015. It focuses on early-stage startups in Indiana and the Midwest, with an emphasis on B2B SaaS companies that show high growth potential. The firm co-invests with institutional investors to fund these ventures and provides strategic value through a diverse group of partners. Inspired by the virtue sophrosyne, the firm aims for disciplined, responsible actions in supporting portfolio companies.

Flywheel Fund is a Bloomington, Indiana-based venture capital firm founded in 2020 that invests in early-stage technology startups, with a focus on Indiana-based companies. It backs ventures across life sciences, medical devices, and software-enabled technology, reflecting an emphasis on high-potential startups at the intersection of software and hardware.

Gravity Ventures is a venture capital investment firm based in Indianapolis, Indiana. Founded in 2008, it focuses on early-stage technology and tech-enabled startups, investing across a range of industries and providing capital and strategic support to help startups scale.

OneCause is a nonprofit fundraising technology company that provides online and event fundraising software to help nonprofits raise more money and improve the giving experience. The platform supports mobile bidding, online fundraising, peer-to-peer campaigns, event management, payment processing, online ticketing, mobile donations, text-to-give, and registration and checkout. Based in Indianapolis, OneCause has been recognized on the Inc. 500 list of Fastest Growing Companies and received a Techpoint MIRA award for Mobile Technology Excellence and Innovation.

Hyde Park Venture Partners is an Illinois headquartered venture capital firm established in 2011 that concentrates on early stage technology companies in the Midwest. With offices in Chicago and Indianapolis, the firm backs seed and Series A rounds in software, SaaS, marketplaces and tech enabled services. Hyde Park Venture Partners emphasizes hands on support, mentoring portfolio companies in product development, business strategy and fundraising, often collaborating with Hyde Park Angels on investments. The firm operates as a registered investment adviser and aims to help high growth startups scale from inception through early growth within the Midwest ecosystem.

Spring Mill Venture Partners is a venture capital firm that funds seed and early-stage information technology and life sciences companies in Indiana and the broader Midwest. The firm provides capital and strategic and tactical support to help high-growth startups grow and prosper, focusing on information technology, healthcare technology, and life sciences sectors. Founded in 2004 and based in Carmel, Indiana, it targets companies in Indiana, Illinois, Kentucky, Michigan, and Ohio.

Boomerang Ventures is a venture capital firm based in Indianapolis, Indiana, founded in 2019, focusing on building commercially successful companies in the future of healthcare, including connected medical devices, digital health, tech-enabled health services, and healthcare informatics.

Capital Midwest Fund is a venture capital firm based in Mequon, Wisconsin, that backs early-stage companies in the Midwest across sectors such as advanced manufacturing, life sciences, healthcare, B2B and business services, software and SaaS, information technology and IoT, and energy. The firm concentrates on Midwest investments, with Wisconsin as a primary focus, and targets initial investments typically in the low to mid single-digit millions per company. It also pursues ESG and diversity-inclusion related investments as part of its strategy.

Health Cloud Capital is a growth investment firm based in Indianapolis that focuses on healthcare IT and cloud-enabled healthcare software. Founded in 2017, it pursues growth opportunities in cloud-based healthcare SaaS companies with strong recurring revenue, typically seeking at least $5 million in annual recurring revenue, and aims to improve healthcare outcomes through data-driven approaches. The firm leverages expertise in healthcare, diagnostics, and information technology to partner with portfolio companies, supporting scaling and operational growth in the cloud, software-as-a-service, and digital health segments.

Triathlon Medical Ventures is an Ohio-based investment firm focusing on life sciences, biomedicine, medical devices, biotechnology, and diagnostics, primarily in the Midwest. Founded in the early 2000s, it invested across seed to expansion stages and often led deals, seeking companies with proprietary biomedical technology addressing major healthcare needs. The firm maintained a Midwest footprint with a Cincinnati headquarters and additional offices in Indiana, Kentucky, and Michigan.

M25 is a Chicago-based venture capital firm focused on the Midwest. Founded in 2015, it backs pre-seed and seed-stage technology companies headquartered in the Midwest and Great Lakes region, and has invested in more than 90 startups across numerous cities and states. Led by Victor Gutwein and Mike Asem, M25 employs an analytical, collaborative approach to portfolio-building across software, information technology and other tech-enabled sectors. The firm aims to support the regional startup ecosystem by providing early-stage capital and guidance to founders as they scale their businesses.

Sixty8 Capital is a seed-stage venture capital firm based in Indianapolis, Indiana. Founded in 2019 by Kelli Jones and Paul Ehlinger, it focuses on early-stage investments in technology, tech-enabled products, and direct-to-consumer startups. The firm emphasizes backing diverse founders, with a focus on Black, Brown, women, and LGBTQ+-led ventures. It is backed by Allos Ventures, leveraging extensive venture capital experience.

Lumina Impact Ventures is the corporate venture arm of Lumina Foundation and makes impact investments in education technology. It extends the foundation’s work beyond grant funding by engaging the private sector to generate ideas, build knowledge, and attract new capital to expand learning opportunities. The arm supports entrepreneurs of color and founders from low-income backgrounds and fosters a collaborative, founder-friendly ecosystem. By leveraging Lumina’s networks, it connects portfolio companies with trusted advisors and other non-financial resources that can accelerate growth. It primarily invests in early-stage companies developing innovative technologies and tech-enabled platforms that create opportunities for people to learn after high school.

Lightship Capital is a venture capital firm based in Cincinnati, Ohio, with an additional presence in Indianapolis. It concentrates on seed to Series A investments in Midwest startups spanning artificial intelligence, consumer packaged goods, health tech and healthcare, e-commerce, sustainability, and related sectors. The firm prioritizes funding for ventures led by underrepresented founders, including BIPOC individuals, women, LGBTQ+ people, and people with disabilities, aiming to expand access to venture capital beyond traditional hubs. By focusing on the Midwest and regional economic growth, Lightship Capital seeks companies with strong growth potential that advance local communities while delivering meaningful returns for its investors.

Mission Innovation Network is a network-based venture capital firm founded in 2020 and based in South Bend, Indiana. It supports mission-driven, local companies by investing in early-stage ventures across sectors including consumer health and wellness, ESG fintech, jobs and education, sustainability, consumer basic needs, social media, and community collaboration, with a focus on empowering local communities.

Rival is a Fort Wayne, Indiana-based venture capital firm founded in 2023 that provides financial and business development support to innovation and technology companies. It invests across sectors including manufacturing, retail, general contracting, distribution and development, and also operates as a venture builder to advance portfolio companies.

Pearl Street Venture Funds is a venture capital firm based in Indianapolis, Indiana, investing in early-stage life sciences companies, including biotech, pharmaceutical, medical device, and agri-bio ventures, and backing therapeutic products that leverage next-generation technologies. The firm can serve as a lead or co-investor and seeks opportunities primarily in Indiana, with additional offices in Los Angeles, West Lafayette, San Diego, and Gaithersburg.

Roll Tack Ventures is a venture capital investment firm founded in 2024 and based in Indianapolis, Indiana. It invests in midmarket technology companies with a Midwest presence and collaborates with technology entrepreneurs to address pressing issues.

Eli Lilly is a global pharmaceutical company that discovers, develops, manufactures, and sells medicines across neuroscience, cardiometabolic diseases, cancer, and immunology. It operates manufacturing and research facilities in the United States, Puerto Rico, and about 25 other countries, with products sold in roughly 135 countries. The portfolio includes Verzenio, Mounjaro, Zepbound, Jardiance, Trulicity, Humalog, Humulin, Taltz, and Olumiant, reflecting a diversified, science‑driven approach. In addition to human medicines, Lilly conducts research in animal health to treat animal diseases and support agricultural productivity. The company maintains a strong emphasis on research and development to address unmet medical needs and to bring innovative therapies to patients worldwide.

Founded in 1994 and based in Durham, North Carolina, with an office in San Diego, Pappas Capital is a venture capital firm that concentrates on life sciences companies across the United States and Canada, with activities also in Asia. The firm backs early to late-stage ventures in biotechnology, biopharmaceuticals, drug delivery, diagnostics, and medical devices, often serving as lead or co-lead investor. It operates three lines of business: its flagship Pappas Ventures, Specialized Fund Management, and Translational Medicine, through which it partners with research universities to translate scientific discoveries into commercial products. Investments span seed through growth stages, including preclinical companies nearing human trials and those progressing to Phase 3, with a preference for opportunities in California, the Research Triangle area, the East Coast, Texas, Indiana, and Montreal, and a geographic reach that includes Asia. Pappas Capital pursues sizable, strategic stakes and collaborates to accelerate development, occasionally investing alongside co-investors and dedicating capital to early and strategic rounds in life sciences ventures.

Mutual Capital Partners is a Westlake, Ohio-based venture capital firm founded in 2004 that concentrates on early-stage investments in healthcare information technology, medical devices, and software companies in the United States. The firm emphasizes active management and collaborates with investors to support due diligence, facilitate customer introductions for portfolio companies, and provide ongoing guidance to portfolio executives, with a focus on building strong management teams and helping portfolio companies scale.

IrishAngels is an angel group and early-stage venture firm based in Chicago, Illinois, founded in 2012. It funds pre-seed and seed startups across the United States and leverages an active network to help portfolio companies grow. Its investment focus includes software and technology-enabled sectors such as B2B SaaS, consumer products, and medical technology, with interests extending to artificial intelligence and machine learning, fintech, e-commerce, health tech, edtech, IoT, mobility, cleantech, climate tech, real estate tech, and related areas.

SOSV is a global venture capital firm based in Princeton, New Jersey, founded in 1995, that focuses on seed to growth investments in deep technology across health, environmental tech, hardware, robotics, and cross border software, with a particular emphasis on Asia. The company runs accelerator style startup development programs, including HAX and IndieBio, which provide facilities, engineering resources, and lab equipment to help founders accelerate product development, acquire customers, and attract later stage funding. SOSV pursues a limited number of high potential startups, offering extensive hands on support to speed commercialization and scale, and aims to back innovations that improve human and planetary health.

Cultivation Capital is a St. Louis, Missouri-based venture capital firm that backs seed- to Series B–stage companies in the United States. Its focus includes life sciences, healthcare, agriculture technology, and related software, information technology, and geospatial sectors, with investments spanning early rounds to support product development and market entry.

RA Capital Management is a Boston-based investment firm that specializes in life sciences and healthcare companies. The firm provides investment management and venture capital services, backing companies developing drugs, medical devices, diagnostics, and biotech tools. Its team combines expertise in biology, chemistry, and medicine with industry and business development experience. RA Capital supports companies across multiple stages, from seed funding to growth financings, including private and public rounds, and often takes board seats and seeks co-investment opportunities. Through its activity, it aims to identify technologies with potential to advance prevention and treatment, genetic testing and personalized medicine, and other patient-focused innovations.

OrbiMed is a healthcare-focused investment firm based in New York, founded in 1989, with approximately $5 billion in assets under management. It engages in private equity, venture capital, and growth investments across the global healthcare landscape, spanning biopharmaceuticals, biotechnology, life sciences tools, medical devices, diagnostics, health care services, and digital health. The firm invests across the development spectrum, from startup ventures to mature companies, and pursues opportunities worldwide, including North America, Europe, Asia, Israel and India, leveraging a long-standing specialization in the sector. Through its diversified capital programs, OrbiMed partners with management to advance innovative therapies, tools, and services that address significant medical needs.

New Enterprise Associates is a U.S.-based venture capital firm founded in 1977 and headquartered in Menlo Park, California. It invests in technology and healthcare companies across stages and geographies, supporting startups from seed to growth. The firm operates globally with investments in the United States, Asia, and Brazil among others, and has a long track record of portfolio IPOs and acquisitions. It has over $19 billion in cumulative committed capital.

Based in Ann Arbor, Michigan, Plymouth Growth is a venture capital and growth-investing firm that backs growth-stage technology companies, with a focus on B2B software and technology-enabled services in the United States and Canada, particularly the Midwest and mid-continent region. The firm targets businesses with proven models and strong teams, generally in the software, business services, and related sectors, and aims to partner with entrepreneurs to drive scalable growth. Leveraging operators' and advisors' experience, Plymouth Growth emphasizes a people-centric approach and hands-on support to help portfolio companies scale.

HG Ventures is the venture capital arm of The Heritage Group. It invests in early and growth-stage companies developing advanced materials and systems for transportation infrastructure, environmental services, and specialty chemicals, as well as digital systems relevant to these industries. The firm aims to partner with portfolio companies by leveraging The Heritage Group’s operating companies and research center to provide technical expertise, manufacturing capabilities, and expansive industry networks. HG Ventures focuses on opportunities in the United States, typically backing companies positioned to improve infrastructure resilience, environmental performance, and energy production through innovative materials and processes. Through its strategic support, the firm helps portfolio companies scale and integrate with real-world supply chains and customers.

Chicago Ventures is a Chicago-based venture capital firm focused on seed- and early-stage technology companies in the Midwest. Founded in 2011, it backs startups across software, supply chain and logistics, fintech, healthcare, consumer media, data management, proptech, mobility, and enterprise tools, with initial investments typically USD 0.25 million to USD 1 million. The firm partners with entrepreneurs to build enduring companies in undercapitalized ecosystems and is registered as an investment adviser (RIA).

Ceres Venture Fund is a Midwest-focused venture capital firm based in Illinois that concentrates on early-stage investments in high-growth companies. It targets opportunities in healthcare, information technology, and business services, and seeks to partner with proven entrepreneurs, providing them with resources and strategic support to accelerate growth and scale their businesses.

The LegalTech Fund is a venture capital firm that backs companies transforming the legal industry through technology. It focuses on legal tech ventures that improve the delivery of legal services and access to justice, supporting early- and growth-stage startups at the intersection of law and technology.

Ludlow Ventures is a Michigan-based venture capital firm founded in 2009 that focuses on seed and early-stage technology companies in the United States, with offices in Detroit and Southfield. The firm backs software and information technology startups and emphasizes a pragmatic, founder-friendly approach, offering hands-on support, product testing, and access to its network to help portfolio companies grow. It advocates a low-ego, straightforward culture and aims to deliver practical, no-nonsense value rather than traditional venture capital puffery.

Annox Capital is a venture capital and private equity firm founded in 2013 and based in Birmingham, Michigan. It provides growth capital for startups and late-stage companies, with a focus on manufacturing, logistics, banking, healthcare, and real estate. The firm seeks investments in enterprises that employ disruptive technology or online strategies to improve business processes or human experiences, typically pursuing deals ranging from $100,000 to $30 million.

MassVentures is a Massachusetts-based venture capital firm that provides seed and early-stage funding to high-growth startups in the Massachusetts innovation economy, helping concepts move from idea to commercialization. Founded in 1978 as a quasi-public corporation by the Legislature of the Commonwealth, it is governed by an independent board and managed by experienced venture investors. The firm focuses on information technology, healthcare, cybersecurity, e-commerce, mobile, manufacturing, and robotics sectors in Massachusetts and operates accelerator programs to support portfolio companies. MassVentures leverages the state's entrepreneurial ecosystem, educated workforce, and centers of innovation to back early-stage ventures.

Serra Ventures is a venture capital firm based in Champaign, Illinois. Founded in 2008, it invests in technology companies at early and growth stages across the United States, with select international activity, focusing on information technology, deep technology, instrumentation, devices, B2B software as a service, and agricultural technologies.

OCA Ventures is a Chicago-based venture capital firm founded in 1999 that makes early-stage equity investments in technology-driven companies in the United States and Canada. The firm concentrates on software and information technology-enabled businesses, including consumer software, enterprise software, fintech, and digital health, with a preference for companies demonstrating dramatic growth potential and scalable models. By backing startups at seed to early-growth stages, OCA Ventures aims to support firms developing innovative software solutions and technology-enabled services across industries, including healthcare technology systems and financial services. The team seeks partnerships with entrepreneurs building scalable platforms and differentiated products, leveraging its regional presence and sector focus to add operational and strategic value.

Norwest Venture Partners is a global technology venture capital and growth equity firm founded in 1961 and based in California. The firm backs seed through growth-stage companies across the United States, India and Israel, with investments spanning technology, cloud and IT infrastructure, Internet and consumer products, SaaS, business services, financial services, healthcare, and other sectors. It has funded hundreds of companies and leverages a broad network and operating experience to help founders scale their businesses. Norwest pursues a flexible, long-term approach, tailoring its capital and support to each stage and company, and it deploys capital across multiple rounds from early checks to growth investments. The firm is known for partnering with CEOs and management teams to accelerate growth through strategic guidance, operational resources, and access to its portfolio network.

MK Capital is a United States-based venture capital and private equity firm founded in 2003. It concentrates on early and growth-stage technology companies, focusing on software and other technology-enabled sectors and primarily targets opportunities in the U.S. market. The firm provides strategic capital, deep operating expertise, and hands-on collaboration, including active board participation to help portfolio companies scale. MK Capital operates from multiple offices in the Chicago area and on the West Coast, including Northbrook, Deerfield, Ann Arbor, and Santa Monica, reflecting a broad regional footprint. By partnering with management teams on strategy, operations, and technology, the firm aims to accelerate growth for disruptive B2B software and related technology businesses.

Bessemer Venture Partners is a global venture capital firm founded in 1911 and headquartered in Redwood City, California. It backs startups across seed to growth stages, focusing on software, cloud, cybersecurity, fintech, consumer and healthcare technologies, and high-growth business models. The firm operates internationally, supporting portfolio companies from early product development through scale, and has backed well-known names such as Pinterest, Shopify, Twilio, Yelp, LinkedIn, Wix and others. BVP emphasizes helping founders establish durable foundations and guides companies through multiple growth phases, leveraging hands-on operational support, strategic networks, and cross-border expertise. With a diversified approach that includes consumer, enterprise and deep-tech investments, the firm seeks to build lasting companies that matter across global markets.

BIP Capital is a venture capital firm based in Atlanta, Georgia. Founded to back startups across seed, early, and growth stages, it invests in a broad range of sectors including software, business services, consumer products and services, healthcare, financial services, information technology and telecom, with a focus on the Southeast and neighboring regions in the United States. The firm provides capital along with operational support, governance guidance, and access to a network to help portfolio companies scale. It operates through BIP Ventures, its venture capital division focused on North American opportunities in B2B software and tech-enabled services, delivering value through infrastructure, expertise, and talent to portfolio founders.

Breakthrough Energy Ventures is an investor-led venture capital firm based in Kirkland, Washington, providing patient capital to climate and energy technology companies across seed, early, and later stages. It concentrates on environmental services, climate change, climate technology, and cleantech, investing minority stakes to back technologies that deliver reliable, affordable power while reducing emissions and advancing zero-emission energy solutions.