2022 REPORT Powered By Elevate Ventures
COMMUNITY. CAPITAL. ACCELERATION. As the most active venture capital firm in the Great Lakes region since 2017, Elevate experienced another record-breaking year in 2022 with 128 transactions totaling $22.8M. One of our goals is for Elevate Ventures to be seen as an investor that not only provides critical capital for new company starts, but also attracts talent, increases jobs and adds post-investment value to grow more billion-dollar brands in Indiana. This goal goes hand in hand with Indiana’s potential to become the Innovation Capital of the World™. To drive our state closer to this vision, Elevate Ventures is focused on three areas: • Community: Build Collaborative Communities • Capital: Invest in High-Potential Companies • Acceleration: Provide World-Class Go-To-Market Value
Securing funding for company growth was my primary focus in 2022. In September, we closed a $4.5M seed funding round, with Elevate Ventures as a lead investor alongside Hageman Group and Allos Ventures. This allowed Traction Ag to acquire Granular Business, a Corteva Agriscience product, in November 2022. Being in Indiana during this period of growth was especially important. Having Corteva and Traction Ag in the same state made it easier to complete the acquisition. We received a great deal of support from organizations like the DeKalb Chamber Partnership, AgriNovus Indiana and Elevate Northeast Indiana. IAN HARLEY, CEO
Traction Ag AUBURN
In 2022, Elevate invested a total of
$785.5K through six transactions in Northeast Indiana companies leveraging an additional
$3.7M from additional outside capital sources. When combined with previous years, Elevate has invested a total of
$7.9M $43.2M
and leveraged a total
since 2011.
Companies that received investment from Elevate employ a total of
109 PEOPLE have a combined average salary of
$66K
and have an estimated total annual payroll of $7.1 M.