August 19th, 2019

Elevate Ventures Releases the 1H 2019 Indiana Venture Report

Report data shows strong deal count in Indiana, ranking 2nd highest among Great Lakes and Midwest states

INDIANAPOLIS – (August 19, 2019) – Elevate Ventures today released the 1H 2019 Indiana Venture Report, an assessment of venture investment activity in Indiana for the first half of 2019.

This report examines Indiana’s economic opportunities and business climate, national venture capital trends, and analysis among Great Lakes and Midwest states. Also included are the distribution of venture capital investments in Indiana compared across various sectors, firms, stages, and regions.

The report findings indicate that Indiana is off to a promising start in 2019, seeing growth across the board in the number of venture capital investments. However, average deal sizes have not seen significant growth. Seed and early-stage deals account for a considerable portion of venture activity in Indiana, while large venture capital rounds remain low.

The 1H 2019 Indiana Venture Report reveals:

  • More than $58B in venture capital was invested in the U.S. in over 3,600 companies in 1H 2019
  • Indiana accounted for 0.26% of all venture capital dollars, up from 0.22% in 2018
  • The number of venture capital deals in Indiana is consistently trending up and will likely exceed 2018 results
  • 53 venture capital deals were reported in Indiana – ranking as the 2nd highest amount of deals reported from the seven Midwest states
  • Indiana venture capital deals totaled $151M in 1H 2019 with a median deal size of $1M and an average deal size of $2.9M
  • Over 80% of all venture capital deals reported in Indiana in 1H 2019 were less than $5M
  • B2B tech pulled in over 75% of all venture capital dollars in Indiana in 1H 2019
  • 64% of all 1H 2019 venture capital deals were in the Central region of the state

The primary source of investment information used in the 1H 2019 Indiana Venture Report was PitchBook Data Inc. in conjunction with Elevate Ventures’ proprietary deal information and secondary data collected from Elevate Ventures’ key co-investment partners. Data from the U.S. Census Bureau, the Bureau of Economic Analysis, Tax Foundation, Crunchbase Inc., the Missouri Economic Research and Information Center are also incorporated.

Click to read the full Elevate Ventures 1H 2019 Indiana Venture Report.

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