5 Top Indiana Venture Capital Firms

Indiana is an appealing place to found a startup for a variety of reasons. Boasting solid infrastructure to support new businesses, the state also offers numerous incentives for entrepreneurs. It has low setup costs and operation costs, which are excellent for new businesses who are trying to get off the ground. It also has well-established local markets that startups can tap into to accelerate growth. 

One benefit of starting a business in Indiana is the abundant variety of venture capital firms in the area. The state has many different VC firms interested in the next big thing. For startups that can meet these firms’ requirements, it’s possible to gain valuable funding and mentorship. 

We also recommend checking out our full list of the top venture capital firms.

Top Venture Capital Firms in Indiana Article.

Best Venture Capital Firms in Indiana

1. Midwest.VC

  • Location: Indianapolis, IN
  • Industries: Tech
  • Stage: Seed
  • Notable Portfolio Companies: TrueBill, OneSignal, Pair Eyewear

Midwest.VC invests in product developers primarily based in the Midwest. It seeks to help entrepreneurs create amazing experiences for customers. The goal is to deliver such a positive experience that the startup wins the market and provides a return to investors. The key to achieving that goal is understanding the product, the market, and the right timing of when to stay and when to exit.

Midwest.VC believes that there are plenty of reasons to base a startup in the Midwest. While there are definite advantages to the coastal markets for the right industries, there are also numerous benefits to the Midwest for certain types of startups. With a lower cost of living, less competition, and hubs for specific industries, opening up shop in the Midwest can be ideal for the startups that are a good fit for Midwest.VC. 

2. Allos Ventures

  • Location: Carmel, IN
  • Industries: B2B Software, Tech-Enabled, Services
  • Stage: Seed, Series A
  • Notable Portfolio Companies: 120 Water, Bolstra, Encamp

Allos Ventures brings more than 50 years of experience to the table for founders who need VC funding for their startups. For the right founders, with sufficient vision and an industry-disrupting idea, Allos can provide funding and mentorship that can mean the difference between success and failure. 

The team at Allos believes that the Midwest is primed for exceptional startups. The only problem is the lack of capital sources necessary to fuel growth. Allos seeks to provide that capital for outstanding entrepreneurs who are primed to transform their industries. It wants to help those startups grow and thrive in even the toughest markets and it has the resources and knowledge to help them do so.

3. Heartland Ventures

  • Location: Indianapolis, South Bend, IN
  • Industries: B2B (Real Estate, Construction, Manufacturing, Logistics, Agritech)
  • Stage: Seed, Series A
  • Notable Portfolio Companies: Soil Connect, Third Wave Automation, Linked Field

Heartland Ventures is a VC firm that brings high-growth startups and Midwestern corporate LPs together to create successful businesses. It is an early-stage venture capital firm seeking opportunities in tech startups that would do well in the Midwest and connects those startups to customers and corporate LPs. Its model has proven successful time and time again, making the firm one of the best in the area. 

The kind of startups that Heartland looks for are those that have the right tech – they just need access to Midwest markets and funding. The firm also has offices on both coasts, which means it understands coastal startups and how to bridge the gap between the coast and the Midwest. It provides the support and network these startups require to become national success stories. 

4. VisionTech

  • Location: Indianapolis, Fort Wayne, IN
  • Industries: Sports Tech, Advanced Materials, Life Sciences, B2B SaaS, Energy/Electronics, Others
  • Stage: Seed, Series A
  • Notable Portfolio Companies: CryptoStopper, Trio Labs, SafeKeeping

VisionTech is one of the most active angel investing networks in the Midwest. It delivers capital and business expertise to some of the most impressive early-growth businesses in the region and throughout the nation. It believes that smarter capital delivers better results.

This VC firm understands that it has to focus on its “sweet spots” to achieve maximum results. That means looking for startups in industries where the firm’s founders are experts and pouring its capital and energy into those startups. It doesn't just accept anybody, either. More than 400 startups seek funding from the firm each year and no more than 16 are chosen to receive funding. 

5. High Alpha

  • Location: Indianapolis, IN
  • Industries: B2B SaaS
  • Stage: Seed
  • Notable Portfolio Companies: DroneDeploy, Botkeeper, Docket

High Alpha is a software development company and VC firm that invests in exceptional startups building enterprise cloud software. Because the company has so much experience in B2B SaaS, it is uniquely qualified to identify strong startups and to help those startups advance in knowledge and business acumen. The firm has established a unique platform to increase the scale of its portfolio and help other businesses along the way.

Since the firm was founded in 2015, it has launched over 30 companies and invested in over 60 founders. It looks for startups that are committed to pushing boundaries. It wants those companies to not only push boundaries but to do so with speed and precision – and a big dose of passion.