Velocities 2022 Annual Report

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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

Leading a business trying to improve a technical aspect of a particular niche use of new technologies, I feel qualified to say that we live in an immensely complicated world. I spend life in a continuous battle between my time and the necessary, complicated work of realizing my vision for Perpetua. Support from Elevate and gBETA shifted the tides of that battle in a major way. With our seed money and lots of creativity, we scratched out an edge with state-of-the-art capabilities that seemed an insurmountable hurdle at the start of 2022. Without their support, we’d be losing that battle.

In 2022, Elevate invested a total of through sixteen transactions in South Central Indiana companies leveraging an additional from additional outside capital sources.

$1.9M $9.1M $4.8 M $23.8 M

When combined with previous years, Elevate has invested a total of and leveraged a total since 2011.

101 PEOPLE $67K

Companies that received investment from Elevate employ a total of have a combined average salary of and have an estimated total annual payroll of $6.72 M.



Directly supported 135 events


PAT EAST Dimension Mill


Columbus Area Chamber of Commerce


LHP Engineering Solutions

TOM GUEVARA Indiana University


Tech Entrepreneur


Retired VC


Elevate Ventures

Impacted Over 4,875 community members

Watched over 626 pitches

Held 745 one-on-one meetings with Velocities entrepreneurs and stakeholders

Multiple awards in recognition of their impact in the entrepreneurial ecosystem

Winning the Elevate Nexus pitch competition has given my company new-found life and traction!

Thanks to their capital, we have increased our runway enough to execute on sales, while we complete our version 2.0, which enables us to sell into school districts. It has even helped us gain interest from other Investors! I honestly don’t know where my company would be if it weren’t for Elevate Ventures.

Integrate Tech Inc., BLOOMINGTON

Scan the QR Code to learn why Indiana is primed to be the Innovation Capital of the World™

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