Indianapolis is quickly establishing itself as a powerhouse in the Midwest startup scene, attracting national and international attention for its record-breaking growth and collaborative, founder-friendly environment. In 2024, Indiana’s startup ecosystem saw over $1.05 billion invested across 166 deals, marking one of the highest totals in state history. As 2025 unfolds, the city’s tech sector is projected to expand, and Indianapolis is set to host the Global Entrepreneurship Congress, drawing innovators and investors from around the world.
In this guide, we will spotlight the top VC firms in Indianapolis, driving the city's entrepreneurial surge, and provide an in-depth look at why Indianapolis is increasingly recognized as a founder-friendly ecosystem. From identifying active investors to navigating local resources and key networking events, this article is your essential roadmap for raising capital and building a successful startup in Indianapolis.
Top Indianapolis VCs
High Alpha
About: High Alpha creates and funds companies through a new model for entrepreneurship that unites company building and venture capital.
Traction metrics requirements: At (or on a path to) $1M in ARR growing at more than 50% per year.
Thesis: Scalable Enterprise Cloud Businesses
Intrepid Finance & Venture Co.
About: Intrepid's technology driven solution enables growing companies by providing Non-Dilutive Growth Capital that helps capital constrained companies realize their fullest potential- allowing founders to focus on what they do best, building their business.
Sweetspot check size: $ 160K
Traction metrics requirements: Minimum $25,000 MRR
Ivy Ventures
About: We provide high-potential founders with the smart capital, industry expertise, and partner network they need to accelerate their ideas.
Sweetspot check size: $ 750K
VisionTech Partners
About: We are VisionTech. Over the last decade, we’ve emerged as one of the Midwest’s most active angel investing networks, adding fuel in the form of capital and business acumen to some of the region’s and nation’s hottest early growth companies. Our process is meticulous and proven.
Sweetspot check size: $ 265K
Innovatemap Ventures
About: Innovatemap is a strategy and design partner. We help companies of all sizes design, improve, launch, and scale SaaS products.
Our experts are at the forefront of innovation, delivering creative services for high-growth companies through product management, product design, product marketing and brand design.
Gravity Ventures
About: Gravity Ventures is a member managed seed capital fund based in Indiana and Arkansas, investing in early stage technology and tech-enabled businesses across a variety of industries.
What began in 2008 with only a handful of investors managing a single seed capital fund in Indiana, has quickly become an accomplished investment group of more than 60 members overseeing a growing portfolio of early stage technology businesses. Today, Gravity Ventures operates six seed capital funds based in Indiana and Arkansas, and remains dedicated to supporting the endeavors of ambitious entrepreneurs.
Boomerang Ventures
About: Boomerang Ventures is a combination venture studio and fund. We partner with founders, investors, and institutions that are leveraging technology to disrupt healthcare for the better.
Elevate Ventures
About: Elevate Ventures is among the largest venture capital firms in Indiana and a top provider of funding to entrepreneurs launching and building businesses in the state. Because funding isn’t always easy to come by in Indiana, we make every effort to make capital more accessible to high-growth startups and entrepreneurs.
Sweetspot check size: $ 660K
Thesis: Elevate Ventures exists to create sustainable cultures and infrastructure across Indiana that support the ongoing development and success of entrepreneurs.
Innovate Indiana Fund
About: The Innovate Indiana Fund invests in early-stage companies with a meaningful Indiana University connection. Find out more on our website.
Allos Ventures
About: Investors in early-stage B2B software and business services companies in the Midwest. Located in Cincinnati and Indianapolis.
The Startup Ecosystem in 2025
Current trends
As later-stage capital becomes more plentiful, state-backed vehicles like the $250 million Next Level Indiana Fund and repeat Indy investors such as High Alpha and Elevate Ventures are now leading Series B and C rounds. This trend is crucial in preventing growth-stage firms from needing to relocate to secure capital.
Corporate-startup collaboration is also tightening. Major players like Eli Lilly, Roche, and Salesforce are expanding their local innovation programs, offering early-stage companies opportunities for enterprise-scale pilots and partnerships. These collaborations provide startups with valuable validation and revenue and accelerate their path to market by leveraging the resources and networks of established enterprises.
Key Sectors Attracting Investment
The Indianapolis startup ecosystem is particularly strong in sectors such as B2B SaaS, life sciences, sports technology, agtech, and advanced manufacturing. High Alpha continues to launch and scale SaaS companies, while the Techstars Sports Accelerator and The Heritage Group Accelerator are drawing attention to sports tech and hardtech. Life sciences remain a pillar of the local economy, with new incubators and accelerators supporting biotech and medtech startups.
Programs and University Partnerships
Indianapolis benefits from a robust talent pipeline, thanks to partnerships with local universities such as Indiana University, Purdue University, and Butler University. These institutions supply technical and business talent and foster entrepreneurship through incubators, research parks, and innovation districts. Programs like the High Alpha Studio, gBETA Indiana, and Indiana SBDC Export Indiana Accelerator further support founders with training, mentorship, and access to global markets.
Diversity and Inclusion
Indianapolis's startup community is making significant strides in diversity and inclusion, with several organizations leading the charge to broaden access and opportunities for underrepresented founders:
- Indy Women in Tech: Works to broaden access to entrepreneurship for women in the Indianapolis tech scene.
- Champions of Diversity Awards: Annually honors individuals and organizations making a significant impact on diversity and inclusion across all sectors in Indianapolis.
- Indy Black Chamber of Commerce: Regularly hosts networking events and business development workshops specifically for Black entrepreneurs and minority-owned startups.
- The Startup Ladies: Organizes monthly meetups, educational sessions, and pitch events aimed at empowering women founders and connecting them with mentors and investors.
- Intend Indiana: Actively supports underrepresented founders and works to advance economic opportunities within the broader Indianapolis community.
Networking and Community Resources for Founders
Indianapolis has rapidly evolved into a dynamic hub for entrepreneurs, offering a wealth of networking and community resources that support founders at every stage of their journey. The city’s collaborative spirit is evident in its robust network of accelerators, incubators, coworking spaces, startup events, pitch competitions, and founder groups—all designed to help startups launch, grow, and thrive.
Key Accelerators, Incubators, and Coworking Spaces
- High Alpha stands out as a nationally recognized venture studio and accelerator, specializing in launching and scaling B2B SaaS startups with hands-on support and a deep bench of experienced mentors.
- gBETA Indiana, operated by gener8tor, offers a free, seven-week accelerator program for early-stage companies, providing individualized coaching and culminating in a public pitch night.
- Techstars Sports Accelerator Powered by Indy brings together sports tech startups with major partners like the Indianapolis Motor Speedway, offering funding, mentorship, and access to a global network.
- PAX Momentum, an eight-week accelerator for B2B tech startups in climate tech, AI, and robotics SharpSheets.
- Indiana SBDC Export Indiana Accelerator helps startups expand internationally, while the
- 16 Tech Innovation District provides coworking, lab space, and regular programming for entrepreneurs in technology, life sciences, and advanced engineering.
Startup Events and Pitch Competitions
- TechPoint Mira Awards: Indiana’s largest annual tech gala, celebrating innovation and connecting founders with investors and industry leaders.
- PitchFeast: Offers early-stage entrepreneurs, especially those from underrepresented backgrounds, the chance to pitch their ideas and compete for seed funding.
- Indy Chamber’s Accelerate Indy Events: Focusing on business growth, they offer events and resources for founders.
- Indy Startup Meetup: Regular gatherings for founders to connect, share experiences, and learn from one another.
Connect With Investors in Indianapolis Using Visible
At Visible, we often times compare a fundraise to a B2B sales and marketing funnel. At the top of your funnel, you are finding new investors. In the middle, you are nurturing and pitching potential investors. At the bottom of the funnel, you are working through diligence and ideally closing new investors.
With the introduction of data rooms, you can now manage every aspect of your fundraising funnel with Visible.
- Find investors at the top of your funnel with our free investor database, Visible Connect and find a filtered list of Indianapolis' investors here.
- Track your conversations and move them through your funnel with our Fundraising CRM
- Share your pitch deck and monthly updates with potential investors
- Organize and share your most vital fundraising documents with data rooms
Manage your fundraise from start to finish with Visible. Give it a free try for 14 days here.
