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
Venture funding has been huge for VitalView. We raised $1.6M in our first seed round in 2021, so in 2022 we were able to partner with a large, reputable research organization to gain a human proof of concept for our healthmonitoring technology. Now we’re preparing to raise an even larger funding round to take the company to the next level. That initial funding made this progress possible. One of the things that excites me about being in Indiana is what the future holds. Healthcare, life sciences and manufacturing are high-impact sectors in Indiana’s GDP. This aligns very well with a lot of the underlying technology that startups can be formed around, whether they come out of Notre Dame or elsewhere.
RAY FRASER, CO-FOUNDER / CEO VitalViewIn 2022, Elevate invested a total of through 21 transactions in North Central Indiana companies leveraging an additional from additional outside capital sources.
$2.1M $12.9 M $12.5 M $79.2 M
When combined with previous years, Elevate has invested a total of and leveraged a total since 2011.
Companies that received investment from Elevate employ a total of have a combined average salary of and have an estimated total annual payroll of $49.7M.
568 PEOPLE $88K
HIGHLIGHTS FROM 2022
Fully Committed initial tranche of
LEAD funding
to 9 companies
BOARD MEMBERS
SUSAN FORD
Semma Health
LARRY GARATONI
HQ Investments
IRIS HAMMEL RISE
BETHANY HARTLEY
South Bend-Elkhart
Regional Partnership
NICHOLAS KUHN
Elevate Ventures
GARY NEIDIG ITAMCO
KELLEY RICH
Interim VP of Innovation ND
PHIL SMOKER
Smoker Craft
Recorded first episodes of
Rooted and Reaching
the SBE founder podcast!
November 16th was The 2nd Annual
Founder Factory
celebrating Global Entrepreneurship Week.
Participated and supported nearly
30 events throughout the year!
OpStart prioritized efficiency and scalability above all else in 2022. As a tech-enabled service, our goal was to refine our technology and processes to achieve higher gross margins and allow our business to scale more seamlessly. A seed round from Elevate and other top-tier investors allowed us to bring on an engineering and product team that has substantially improved our efficiency and expanded our team’s capacity to service more customers. This is clearly seen in OpStart’s gross margin, which has improved by about 15 percentage points over the course of 2022.
PAUL ANTHONY, CO-FOUNDER / CEO
OpStart
SOUTH BEND
Scan the QR Code to learn why Indiana is primed to be the Innovation Capital of the World™
