A Deal Starter: VisionTech’s Investment Ceiling Has Just Doubled
For eligible Indiana startup companies, raising capital just got easier. That means fewer late nights honing your pitch. A few less pitches to potential investors. And fewer sleepless nights waiting for due diligence to be completed.
Here’s why. VisionTech Partners was recently selected to participate in Elevate Ventures’ Indiana Seed Fund, a state-supported investment fund that encourages growth among angel investor groups and privately managed early-stage investment firms, while at the same time, promoting investment in Indiana-based high-potential startup companies.
This is a major deal starter as it doubles the amount of capital VisionTech Partners can invest in any eligible Indiana-based company through VisionTech Angels and our separately funded sidecar fund. Elevate Ventures will co-invest up to $500,000 per deal; increasing the amount we generally invest in a single qualified company from $500,000 to $1 million or more.
We’re excited for two reasons. First, it will strengthen our deal flow and put more investment opportunities in front of our statewide angel community. Second, it significantly lessens the burden of fundraising for startups. In effect, eligible startups can raise more capital with less effort and put more energy behind their company’s commercialization activities.
Elevate Ventures launched the Indiana Seed Fund in late 2014, in partnership with the Indiana Economic Development Corporation (IEDC). The Fund has $5.5 million in available capital to co-invest in fully vetted, Indiana-based startup companies alongside selected investment groups. VisionTech Partners was chosen to participate by an IEDC committee based on stringent criteria, including the ability to invest at least $250,000 in Indiana companies by September 2016. VisionTech Partners is among the first investment groups selected to participate in the program.
VisionTech Partners thanks Elevate Ventures for selecting us to participate in the Indiana Seed Fund. We are committed to growing our state’s innovation-based economy through thoughtful investment in promising companies. It’s one more big reason entrepreneurs should come to VisionTech first.