Venture report touts record investment in Indiana
INDIANAPOLIS (Inside INdiana Business) — An annual report from Indianapolis-based Elevate Ventures says 2019 was a record year for venture capital deals and investment. The 2019 Indiana Venture Report, the organization says, outlines the state’s economic opportunities and business climate, in addition to examining national venture trends and activity.
The report says for the first time in 10 years, Indiana saw more than 100 venture deals and more than a half-billion dollars invested in a given year. The record investment numbers were driven by more and larger funding rounds invested in Hoosier companies.
Indiana saw 11 deals of $10 million or more, which is double the amount of deals in 2018 and accounted for over 60% of all dollars invested in 2019. The two largest deals were Kenzie Academy’s $100 million investment and $89 million for Massachusetts-based Inari Agriculture, which has most of its operations in Indiana.
“We are encouraged by the results of the 2019 Indiana Venture Report, including a record-breaking year for the state,” said Chris LaMothe, chief executive officer of Elevate Ventures (pictured). “Indiana proves to be a significant player among regional and national venture capital activity, and we anticipate more success as we continue to support innovation and drive economic growth.”
The report includes all Seed, Early Stage Venture Capital, and Later Stage Venture Capital deals in Indiana last year. The state accounted for 0.42% of all national venture capital investment in 2019, compared to 0.22% the previous year.
The report adds B2B tech and central Indiana continued to dominate venture activities in the state.
You can view the full report by clicking here.