We Help By: Funding Entrepreneurs > 21 Fund
The goal of the 21st Century Fund is to support the resolution of next-stage capital formation issues by co-investing with institutional investors in order to further build innovative, high-impact, high-growth companies.
As the 21 Fund's manager, Elevate works with early revenue-generating companies to solve product demonstration and market penetration issues in order to accelerate company growth, milestone achievement, and job creation.
Technical and business analysis is conducted by Elevate Ventures staff using a structured internal venture validation process. If necessary, Elevate Ventures' Entrepreneurs-in-Residence work with applicants to ensure that the technical and business plans are structured to make this review efficient and to provide useful feedback to the company.
The 21st Century Fund is sensitive to the acute challenges facing early-stage life science companies, especially in therapeutic verticals. We will continue to be open to such opportunities and will strive to meet associated capital-intensive product development needs alongside institutional or strategic investors.
The 21 Fund's maximum investment size is $2 million per company.
All investments are initially made in convertible debt with finalization in convertible debt or equity instruments with the following contingencies:
- Establishment and maintenance of proper corporate governance procedures
- Appointment of a 21 Fund-designated person to the company's governing Board of Directors
- Financial and operational reporting
- Private co-investment from institutional investors. We may consider co-investment from angel investors if such investors can demonstrate pre-existing connection with the venture capital community and are likely to help entice institutional investment in the future
Investment Criteria for the 21st Century Fund Include:
- For-profit entity headquartered in Indiana
- Addressable market size over $1 billion
- Clear & sustainable competitive advantages such as technical superiority
- Disruptive business models – while no technology invention is required, application of technology is usually desired to achieve such disruptive models
- Coachable management team with strong commitment and execution capabilities
- Willingness to work with Elevate Venture's Entrepreneurs-in-Residence ("EIR") toward tangible goals
- Achievable growth & exit strategies