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Elevate Ventures Inc

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Nonprofit Overview

Causes: Economic Development

Mission: Successful communities share qualities that make them desirable places to live and work. A fundamental quality of such places is a thriving, sustainable entrepreneurial culture. Guided by this vision, we help regions and communities create entrepreneurial cultures, and encourage and develop business leaders of tomorrow. This has been our goal since inception, and we are the only organization in indiana executing a strategy that advances entrepreneurs from within indiana to create a thriving, robust pipeline of growth-oriented companies backed by critical capital and support. 2017 was another record year of capital investment. Elevate portfolio companies span 31 indiana counties. From 2011 to 2017, elevate funds under management deployed $70. 56m in capital, with an additional $420m generated by co-investments and follow-on investments. For every dollar elevate invests, other capital partners invest $6. 70, based on data available through april, 2018 with more than 1,200 investors.

Programs: Unlike a typical venture capital firm, elevate ventures assists startup and scale-up companies with advisory services as well as investment capital. These advisory services are aimed at helping entrepreneurs, particularly first-time business owners, to navigate the complexities of obtaining capital and resources to start or grow their business. For every dollar elevate ventures invests, it pulls $6. 70 from outside co-investors into indiana companies. Elevate ventures portfolio companies generated 2,250 jobs and $172m in total payroll with an average salary of $61. 9k. Elevate ventures entrepreneurs-in-residence provided over 40,000 hours of advisory services to indiana companies (at no cost to the companies). Since inception, elevate ventures has invested $70. 5m which has been leveraged against $420m in private co-investment. The following summarizes, by fund, elevate ventures' investment and leverage (co-investment) from other, private investors for 2017 and since inception in 2011. Indiana 21st century fund: $9. 24m invested in 2017; $40. 4m invested since inception; $269. 4m has been leveraged from private investment since inception. Indiana seed fund: $1. 34m invested in 2017; $5. 4m invested since inception; $22. 1m leveraged from private investment. Indiana angel network fund: $2. 12m invested in 2017; $12. 8m invested since inception; $71m leveraged from private investment. Sbir/sttr grant matching: $1. 19m invested in 2017; $4. 7m invested since inception; $21. 9m leveraged from private investment. High potential startup grants: $200k invested in 2017; $761k invested since inception; $641k leveraged from private investment. Elevate ventures purdue foundry fund: $640k invested in 2017; $1. 5m invested since inception; $5. 4m leveraged from private investment. Elevate ventures was founded in 2011 to assist the indiana economic development corporation (iedc) manage a portfolio of direct capital investments in high-potential, high-growth indiana companies and make capital more accessible to indiana entrepreneurs. Through a subsidiary partnership with the indiana economic development corporation (iedc), elevate manages both direct and indirect investment funds. The separately reportable partnership holds the investment capital and portfolio income/expense and reports earnings via the irs form 1065 u. S. Return of partnership income. Elevate receives funding from the indiana economic development corporation (iedc) to manage these investment funds through a professional services agreement and a management fee arrangement for the various funds.

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