Indianapolis-based Elevate Ventures has launched “Elevate Me,” a program focused on supporting Black, Brown, and women entrepreneurs. The new initiative offers one-on-one consulting, pathways to resources, connections to entrepreneurship support organizations, and investments.
The firm, which describes itself as part venture capital and part entrepreneurial development partner, is the State of Indiana’s venture development organization/partner, investing capital into early stage start-ups that are high-growth, high-potential. Elevate Ventures has grown to 16 funds with $150 million in assets under management and has invested $124.4 million in nearly 450 start-ups leveraging an additional $1.2 billion from private sources. In addition, Pitchbook has ranked the firm as the most active venture capital investor in the Great Lakes Region since 2017.
“Elevate Me” serves as a complement to a new investment capital initiative managed by Elevate Ventures, which will target the deployment of $13 million for traditionally underserved high-growth, high-potential companies, entrepreneurs, and start-ups in the Hoosier State. The basis for eligibility for these funds will be geographic, demographic and/or socioeconomic, including those companies owned and controlled by Black, Brown and women founders, in addition to other qualifying businesses.
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