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Elevate Ventures company logo
Venture Capital
elevateventures.com

Investments

253

Portfolio Exits

25

Funds

5

Partners & Customers

5

About Elevate Ventures

Elevate Ventures nurtures and develops emerging and existing high-potential businesses into high-performing, Indiana-based companies. It accomplishes this by providing rigorous business analysis and robust advisory services that connect companies with the resources they need to succeed long-term. As a not-for-profit organization, Elevate is able to offer unbiased, in-depth perspectives and recommendations. As of April 2011, Indiana's 21st Century Fund is managed by Elevate Ventures, under contract with the IEDC and the State of Indiana.

Headquarters Location

One North Capitol Avenue Suite 900

Indianapolis, Indiana, 46204,

United States

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Latest Elevate Ventures News

‘Creative collisions’ key to inaugural Rally conference

Sep 5, 2023

Some 3,000 people descended on downtown Indianapolis last week for the inaugural Rally Innovation Conference from Indianapolis-based Elevate Ventures. The goal of the three-day event, which featured over 200 speakers—including keynotes from Peyton Manning and Earvin “Magic” Johnson—was to put Indiana on the global stage for cross-sector innovation. The man behind the event, Elevate Ventures CEO Christopher Day, says Rally is about “creative collisions.” “It’s about domain experts from across sectors,” said Day. “So, med device can be health care, hard tech, software, it can even be sports, tech, all in the same product. So we believe it’s really critical to figure out how to get people together that don’t normally don’t run the same circles in one place at the same time.” Some say Rally could become Indiana’s version of South by Southwest, which is held in Austin, Texas every year. The importance of holding Rally in Indianapolis, Day said, centers around the assets that the city and the state of Indiana have, though those stories typically aren’t being told. “We don’t talk about all of our number one rankings. We don’t talk about our arts and science and our trails and 43 miles of beach in Lake Michigan,” he said. “And this is just an opportunity to let the globe know about all the assets that exist here in Indiana, because everyone is looking [for] where’s the best place to go to live, work and play. And when you add up all the different assets, there’s no question in my mind, we ranked among the best in the world.” When it comes to innovation and tech, Scott Dorsey, managing partner for Indianapolis-based venture studio High Alpha, believes a conference like Rally can help boost Indiana’s reputation for connecting tech into other sectors, such as ag, logistics, manufacturing and life sciences. “This type of conference, I think, based on the collisions allows for more idea generation, more collaboration, and hopefully will just fuel more innovation across each of those sectors as it relates to technology.” But the collaboration doesn’t just happen at the conference, according to Dorsey. “There are venture capitalists from all over the country that are having private dinners, private events. So I think when you have an anchor event like this, then there’s all these kind of smaller events, [and] kind of the the orbit really kind of gets built out, and that’s really, really profound.” Another focus among the attendees of Rally is educating and supporting future innovators. Purdue University took a step forward in that realm with the April launch of Purdue Innovates, which university President Mung Chiang said is all about creating jobs, talent and innovation. “There are two parts,” Chiang said. “One is supporting inventors, filing more patents, licensed patents, and turn that knowledge creation into societal impact. And the other is to support entrepreneurs, faculty, students, Boilermaker alumni who are entrepreneurs.” Purdue is also working to enhance its presence in Indianapolis with its own independent campus that Chiang said is slated to start in July as part of the split of the IUPUI campus. But the university has already begun efforts in Indy, including partnering with High Alpha by taking up space in the venture studio’s Bottleworks location on Mass Ave, which will house executive education programs in the Mitchell E. Daniels Jr. School of Business alongside programs at Purdue Innovates. “It’s all about unique student experiences in the urban setting,” said Chiang. “It’s all about working with partners, especially business communities, companies, large and small.” You can view IIB’s full slate of interviews from Rally, including those that didn’t air on Inside INdiana Business with Gerry Dick, by clicking here . Story Continues Below

Elevate Ventures Investments

253 Investments

Elevate Ventures has made 253 investments. Their latest investment was in ConverSight.ai as part of their Series A on August 8, 2023.

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Elevate Ventures Investments Activity

investments chart

Date

Round

Company

Amount

New?

Co-Investors

Sources

8/28/2023

Series A

ConverSight.ai

$9M

No

2

8/8/2023

Series A

Stamus Networks

$6M

No

4

6/2/2023

Seed VC - II

AfterSchool HQ

$3.1M

No

3

3/29/2023

Series A

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$99M

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10

3/8/2023

Seed VC - III

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$99M

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10

Date

8/28/2023

8/8/2023

6/2/2023

3/29/2023

3/8/2023

Round

Series A

Series A

Seed VC - II

Series A

Seed VC - III

Company

ConverSight.ai

Stamus Networks

AfterSchool HQ

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Amount

$9M

$6M

$3.1M

$99M

$99M

New?

No

No

No

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Co-Investors

Sources

2

4

3

10

10

Elevate Ventures Portfolio Exits

25 Portfolio Exits

Elevate Ventures has 25 portfolio exits. Their latest portfolio exit was Smart-Apply on July 14, 2023.

Date

Exit

Companies

Valuation
Valuations are submitted by companies, mined from state filings or news, provided by VentureSource, or based on a comparables valuation model.

Acquirer

Sources

7/14/2023

Acquired

$99M

2

6/29/2023

Acquired

$99M

2

6/25/2023

Acquired

$99M

2

3/21/2023

Acquired

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$99M

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10

12/13/2022

Acq - Fin

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$99M

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10

Date

7/14/2023

6/29/2023

6/25/2023

3/21/2023

12/13/2022

Exit

Acquired

Acquired

Acquired

Acquired

Acq - Fin

Companies

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Valuation

$99M

$99M

$99M

$99M

$99M

Acquirer

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Sources

2

2

2

10

10

Elevate Ventures Fund History

5 Fund Histories

Elevate Ventures has 5 funds, including Elevate Ventures NSG Investment Fund.

Closing Date

Fund

Fund Type

Status

Amount

Sources

2/28/2020

Elevate Ventures NSG Investment Fund

$0.05M

1

12/31/2012

Indiana Angel Network (IAN) Fund

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$99M

10

Indiana Diversity Investment (IDI) Fund

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10

Indiana Community Development Fund

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10

Indiana's 21st Century Research & Technology Fund

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10

Closing Date

2/28/2020

12/31/2012

Fund

Elevate Ventures NSG Investment Fund

Indiana Angel Network (IAN) Fund

Indiana Diversity Investment (IDI) Fund

Indiana Community Development Fund

Indiana's 21st Century Research & Technology Fund

Fund Type

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Status

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Amount

$0.05M

$99M

Sources

1

10

10

10

10

Elevate Ventures Partners & Customers

5 Partners and customers

Elevate Ventures has 5 strategic partners and customers. Elevate Ventures recently partnered with Powderkeg Ventures on November 11, 2022.

Date

Type

Business Partner

Country

News Snippet

Sources

11/3/2022

Partner

United States

Elevate Ventures Announces Partnership with Powderkeg to Accelerate Growth for Indiana Tech Ecosystem – Powderkeg

The new partnership between Elevate Ventures and Powderkeg brings new media , education , and software tools to Indiana tech companies to attract and engage with talent exploring remote jobs , careers in tech , and jobs in Indiana .

1

9/22/2022

Licensor

India

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10

7/28/2021

Partner

United States

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10

6/4/2021

Partner

United States

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10

5/2/2017

Partner

United States

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10

Date

11/3/2022

9/22/2022

7/28/2021

6/4/2021

5/2/2017

Type

Partner

Licensor

Partner

Partner

Partner

Business Partner

Country

United States

India

United States

United States

United States

News Snippet

Elevate Ventures Announces Partnership with Powderkeg to Accelerate Growth for Indiana Tech Ecosystem – Powderkeg

The new partnership between Elevate Ventures and Powderkeg brings new media , education , and software tools to Indiana tech companies to attract and engage with talent exploring remote jobs , careers in tech , and jobs in Indiana .

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Sources

1

10

10

10

10

Elevate Ventures Team

8 Team Members

Elevate Ventures has 8 team members, including current Chief Executive Officer, Stephen Hourigan.

Name

Work History

Title

Status

Stephen Hourigan

VantEdge Partners, Indiana Economic Development, Interthinx, and AppIntell

Chief Executive Officer

Current

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Name

Stephen Hourigan

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Work History

VantEdge Partners, Indiana Economic Development, Interthinx, and AppIntell

Title

Chief Executive Officer

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Status

Current

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