Tech investments see triple digit increase
INDIANAPOLIS (Inside INdiana Business) — Indiana’s technology initiative says the state’s tech ecosystem saw one of its best years in 2019. TechPoint says tech investments last year totaled nearly $360 million, a 260% increase over 2018.
Sixty-two Hoosier tech companies publicly announced venture capital investments, grant funding, M&A deals, private equity and debt financing, which contributed to the total. Nearly half of the investment total, $151 million, came in the fourth quarter of 2019 alone. That number is higher than all four quarters of investment combined in 2018.
TechPoint adds 33 mergers and acquisitions were reported in the tech sector last year.
“Last year’s VC activity is a reflection of the smart investments that have been made here in prior years and serves as a harbinger of things to come,” Mike Langellier, president and chief executive officer of TechPoint, said in a news release. “It’s great to have so many innovative and inspirational members of the tech community – from all levels and across so many industries and services – working together to grow a community that will attract, retain and grow top talent.”
You can view the highlights of the fourth quarter investment activity from TechPoint by clicking here.