What Elevate Ventures does

Elevate Ventures is an Indianapolis-based nonprofit venture development organization founded in 2011 through a spin-out from the Indiana Economic Development Corporation (IEDC) under Governor Mitch Daniels. The firm invests in cross-sector innovation-driven companies headquartered in Indiana at the Pre-Seed, Seed, and Series A stages, deploying capital across Software, HardTech, Life Sciences, and Consumer Products. As of 2025 the firm manages $222 million in assets under management, has invested over $197 million into more than 600 portfolio companies, and self-reports as the #1 most active early-stage VC in the Great Lakes Region and top 10 in the United States.

Its core products are the Elevate+ post-investment platform (providing portfolio companies with operating-partner access, partner discounts, workshops, talent recruitment, and GTM best practices), Elevate Origins (pre-seed founder support), the Elevate Learning knowledge library (AI-curated human-produced video content at elevatelearning.ai), and the RALLY innovation conference (six studio tracks across Ag & Food, Hardtech, Healthcare, Software, Sportstech, and Entrepreneurship). Underlying technology is concentrated in CRM-based portfolio management, investment analytics, and a data-driven founder evaluation methodology rather than proprietary product IP.

The revenue model is fund-based: management fees and carried interest on multiple vehicles including the Pre-Seed Fund and Indiana Angel Network Funds (IANF II, IANF III, the latter managed through subsidiary Elevate Advisors, LLC). Investment terms include $20K–$100K pre-seed checks, $20K–$2M seed checks up to $8M per company, and standard 20%-discount, 8%-interest, 3-year-maturity convertible notes. GTM is ecosystem-driven rather than sales-led: deal flow is sourced through investment VPs acting as deal sponsors, syndication with co-investors (TitletownTech, Ground Game, VisionTech), university and IEDC partnerships, and the RALLY conference. The portfolio reports a 1.2x MOIC overall, with the matured IANF I fund delivering 1.24x MOIC and over $7M in residual equity across 13 active companies. In 2025 the firm weathered an IEDC-initiated $17.2M loan default dispute that was subsequently cleared by an independent FTI Consulting forensic audit.

Name

Elevate Ventures

Legal name

Elevate Ventures, Inc.

Website

https://elevateventures.com

Company type

Private

Founded year

2011

Operating status

Operating

Headcount range

11–50 employees

Short description

Elevate Ventures is an Indianapolis-based nonprofit venture capital firm investing Pre-Seed to Series A in cross-sector innovation-driven startups headquartered in Indiana, managing $222M AUM across 600+ portfolio companies alongside post-investment support through the Elevate+ platform and the RALLY conference.

Ownership category

akta.pro rank

Product category

Early-Stage Venture Capital

NAICS

Portfolio Management and Investment Advice (523940), Other Investment Pools and Funds (5259)

SIC

Investment Advice (6282)

akta.pro primary industry

Impact / ESG Venture Capital (FSANAAAG)

Keywords

• Venture capital investing
• Early-stage funding
• Startup incubation
• Portfolio acceleration
• Innovation ecosystem

Headquarters

HQ city

Indianapolis

HQ country

United States

HQ region

North America

Offices1 record

Markets served

GTM type

B2B

Offering type

Services

Cost components

Personnel, Operations, Marketing or Sales, Technology or R&D, Others

Revenue model

1. Fund Management / Venture Returns: Elevate Ventures generates returns through carried interest and equity appreciation on its investment portfolio. The firm manages multiple funds including Pre-Seed Fund, IANF II, and IANF III, with investments structured as convertible notes or equity. Returns are measured by MOIC (Multiple on Invested Capital); their first fund (IANF I) achieved a 1.24 MOIC with over $7M in residual equity across 13 active companies, and the overall portfolio holds a 1.2 MOIC.

Go-to-market motion1 record

Distribution channels2 records

Marketing channels8 records

Core offering

Elevate Ventures is a nonprofit venture development organization that invests early-stage capital (Pre-Seed, Seed, and Series A) into innovation-driven companies headquartered in Indiana. It deploys capital in checks ranging from $20K to $8M per company and pairs investment with post-investment support services (Elevate+), an AI-curated learning platform (Elevate Learning), workshops, and an operating partner network to help founders commercialize and scale.

Product overview

Elevate Ventures is a venture capital firm offering a platform of investment and support services for startups. The core offering combines capital infusion (Pre-Seed through Series A) with post-investment support through Elevate+, an educational platform (Elevate Learning), workshop programs, and resource tools. The firm has invested over $197 million into 600+ startups across sectors including Software, Life Sciences, HardTech, and Consumer Products. They also host the annual RALLY innovation conference as a flagship event.

Differentiator

Problem solved

Functional benefit

Brands

• Elevate+: Post-investment support program providing portfolio companies with network access, workshops, and exclusive partnerships and discounts.
• Elevate Learning
• RALLY

Products and services

• Pre-Seed Funding Initial capital product providing $20K–$100K checks to Indiana-based innovation-driven founders with clean legal/financial structure and clear solutions to real pain points. Includes validation of pain point and proposed solution, plus initial guidance to obtain capital. Standard convertible note terms: 20% discount, 8% interest, 3-year maturity, with an ideation-stage cap of $2M or traditional pre-seed cap of $3M.
• Seed Funding Seed-stage capital product investing in MVP-selling founders, with checks from $20K to $2M per round and up to $8M total per company. Includes advice on financial and legal structure and introductions to key partners. Target founders must exhibit relentless selling of initial product, have secured sales and technical talent, and maintain clean legal/financial structure.
• Series A Funding Series A capital product for Indiana founders who have achieved product-market fit, have a clear go-to-market strategy, and have secured key personnel. Includes deep unit economics support, talent recruitment assistance, and value-add board member or observer seats.
• Elevate+ Post-Investment Support Program Post-investment support platform that pairs capital with tools, resources, and network access for Elevate Ventures portfolio companies, including an Operating Partner network, workshops, and exclusive partner discounts. For founders and portfolio companies seeking go-to-market, talent, and operational support after investment.
• Elevate Learning AI-curated knowledge library of human-produced videos and educational resources designed to help entrepreneurs launch and scale high-growth startups. For founders in Elevate Ventures' ecosystem and broader Indiana innovation community.
• RALLY Innovation Conference Annual global cross-sector innovation conference featuring six studio tracks (Ag & Food, Entrepreneurship, Hardtech, Healthcare, Software, and Sportstech), bringing together founders, investors, corporate partners, and ecosystem stakeholders.

Quantifiable outcome

• 8,000+ direct jobs created with $100K average salary (more than double the state average)
• +3 more outcomes

Named customers5 records

Segments1 record

Ideal customer profiles1 record

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Partnerships

Two partnerships are on record, tiered core and minor.

• Indiana Universities (Purdue, IU, others)coreStrategic or Co-development PartnerElevate Ventures maintains deep relationships with Indiana's research universities including Purdue University and Indiana University. Elevate supports university-affiliated founders and researchers, with notable portfolio companies like Folia (co-founded by IU graduate) and involvement with Purdue research ecosystems.
• Community Foundation of Greater Fort WayneminorStrategic or Co-development PartnerElevate Ventures CEO Christopher Day participated in a fireside chat with Brad Little, CEO of the Community Foundation of Greater Fort Wayne, discussing the impact of innovation in the local community at Electric Works' Be Elec-trific Day event.

Scale indicators8 records

Recent moves7 records

Expansion highlights6 records

Direct peers

• Allos Ventures: Indianapolis-based early-stage venture capital firm investing in high-growth technology and tech-enabled companies in the Midwest. Closely comparable as an Indiana-focused early-stage investor with a similar stage mandate and sector breadth.
• High Alpha: Indianapolis-based venture studio that creates and funds B2B SaaS companies, often leading seed and Series A rounds. Comparable as an Indiana-anchored early-stage capital and platform provider with a strong post-investment support model.
• VisionTech Partners: Indiana-based angel network and early-stage investor focused on Midwest technology and life sciences startups. Comparable as a regional, cross-sector early-stage capital provider with a similar geographic and stage mandate.
• gener8tor: Milwaukee-based venture capital firm and accelerator running investment programs and concierge services for early-stage startups across the US. Comparable as a Midwest-based seed-stage investor combining accelerator programming with fund deployment.
• Revolution's Rise of the Rest: Revolution's fund dedicated to early-stage startups outside of Silicon Valley, focusing on emerging startup ecosystems. Comparable as a geographically-targeted early-stage VC designed to build innovation economies outside coastal hubs.

Regional players

• Rev1 Ventures: Columbus, Ohio-based venture development organization that combines investment capital with startup services and a regional innovation hub model. Comparable as a state/region-anchored venture development organization with capital-plus-services approach similar to Elevate.
• Cintrifuse: Cincinnati-based innovation hub and venture fund supporting Midwest startups through capital, programming, and corporate connections. Comparable as a Great Lakes regional ecosystem-builder combining investment with platform services for early-stage founders.
• BioGenerator: St. Louis-based venture development organization providing capital and lab space to life sciences startups across the Midwest. Comparable as a regional, state-affiliated venture development organization focused on early-stage life sciences deals.

Broad incumbents

• Techstars: Global accelerator and early-stage investor running programs worldwide with associated fund vehicles. Comparable as a broad incumbent operating accelerator-style programs and deploying early-stage capital with strong platform services.

Others

• Invest Midwest: Annual Midwest venture capital conference and ecosystem organization connecting investors and startups across the region. Comparable as an ecosystem-building organization serving the same geographic founder-and-investor community as Elevate.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat5 records

Key risks6 records

Key highlights7 records

Customer concentration

• Xx.com/Elevateventures
• YouTubeyoutube.com/@EvaporatePodcast
• LinkedInlinkedin.com/company/elevate-ventures-inc-
• Instagraminstagram.com/elevateventures

Revenue estimate

Valuation estimate

Number of profiles

Profiles21 records

Subsidiaries2 records

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments275 records

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Elevate Ventures