VisionTech Angels’ 2018 Startup Investments Top $3.3 Million

INDIANAPOLIS, Ind., (April 2, 2019) – – VisionTech Angels’ investments in startup companies, including many based in Indiana, continues to soar. The Indianapolis-based group that has five chapters across Indiana and a sixth in Dayton, Ohio, invested a total of $3.3 million in ten companies in 2018, strengthening its position as a top source of early-stage investment capital not just in Indiana, but nationally as well. Half of VisionTech Angels’ 2018 investments were in Indiana-based companies.

Companies receiving investments from VisionTech Angels in 2018 include ANGLR, Pittsburgh; Bolstra, Indianapolis; Corvida Medical, Coralville, Iowa; Elevate K-12, Chicago; Scale Computing, Indianapolis; Scioto Biosciences, Indianapolis; Salarius Pharma, Houston; SpinTech, Xenia, Ohio; Toralgen, Indianapolis; and WorkHere, Carmel, Indiana. VisionTech Angels has 28 active portfolio companies.

VisionTech Angels Executive Director Ben Pidgeon says his group fills an important niche in Indiana’s startup ecosystem, providing much-needed investment capital in early growth startup companies that often rely on themselves, family and friends for funding. “Access to capital is critical to startups, but also to a healthy, sustainable startup community. One of the biggest reasons investors join our network is an appreciation for entrepreneurs and the opportunity to get in on the ground floor and diversify their investment portfolios in this asset class.”

VisionTech Angels takes a purposeful, thorough approach to the companies its members ultimately invest in, screening as many as 400 startups a year to select 12 to 15 companies to present to its angel investors during bi-monthly pitch weeks. The goal is to bring the most investable companies to its members.

Added Pidgeon, “While our focus is primarily the life sciences—four of our 2018 investments are life sciences-based companies—tech is also very attractive to our members. Both industry sectors are strong in Indiana so it makes sense to align with these industries within the startup community.”

The strategy is paying off for VisionTech Angels. Among its first portfolio companies is Warsaw, Indiana-based OrthoPediatrics (NASDAQ: KIDS). In October 2017, OrthoPediatrics priced it initial public offering at $13 per share. As of March 20, 2019, its share value has nearly tripled to $45.50 peer share. In October 2018, Scale Computing announced it had secured $34.8 million in a Series F fundraising round.

VisionTech Angels has more than 120 members in its open network. Those interested in angel investing are encouraged to contact VisionTech. The group’s next Pitch Week is April 15-18.


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VisionTech Partners are available for interviews related to Indiana’s innovation and entrepreneurial ecosystem, business creation, technology commercialization, and other topics related to economic development. To schedule an interview, please contact:

Melanie Lux
Lux + Associates, Inc.
803.331.4794
mlux@luxandassociates.com

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Lux + Associates, Inc.
803.331.4794
mlux@luxandassociates.com