Indianapolis-based "venture studio" High Alpha on Monday announced plans to take operations to the next level by adding two funds worth more than $100 million and two new investors with national reputations.
PactSafe, an Indianapolis tech firm that offers clients a cloud-based contracting platform, said the infusion of capital will allow it to add up to 20 employees by year’s end.
The 8-year-old firm, which focuses on investing in early-stage Midwestern tech companies, this week filed plans with the Securities and Exchange Commission to raise $50 million to $100 million for the new fund.
Officials for digital consultancy Levementum said the capital recently secured from a group led by Chicago-based Inoca Capital Partners will be used in part to add about 40 employees at its Indianapolis office this year.
The new funding will be invested into sales, marketing and product innovation expansion, company officials said.
Officials for Upper Hand Inc. said the cash infusion will be used to develop technical and strategic partnerships and expand hiring efforts in customer support and product development.
A $44 million VC infusion in 2017 for biosciences firm On Target Laboratories was one indication that Indiana’s life sciences sector is finally starting to pull down some serious venture funding.
Since its takeoff three years ago, investor High Alpha has grown its stable of studio companies from three to nine.
The funding round included participation from locally based investors Allos Ventures, Collina Ventures, Elevate Ventures and former Interactive Intelligence CEO Don Brown, as well as others.
The Hogsett administration and the City-County Council are weighing whether to kill a little-known organization that has quietly worked the past two decades on the redevelopment of key downtown projects.
The IU Philanthropic Venture Fund—which will back IU-related research and startups—is already fully funded to the tune of $15 million.
Bolstra LLC, a Carmel-based software-as-a-service company, has added an executive who previously held leadership positions at PolicyStat, Aprimo and Software Artistry.
Zylo, which helps companies manage their cloud computing software subscriptions, has secured its second big round of funding—including investments from big names in the world of cloud computing.
Thanks to a strong fourth quarter with a $40 million deal, the amount of venture capital invested in Hoosier firms surged 50 percent in 2017 over the previous year.
The investment was led by OpenView Venture Partners, a Boston-based venture capital firm that previously invested in ExactTarget.
The company said the funds would help it test its lead compound in late-stage clinical trials, allowing surgeons to detect cancerous cells with the help of fluorescent dyes.
Venture capitalists have been on a spending spree so far in 2017, but have been investing more money in fewer companies, national surveys show.
Indianapolis-based 250ok had shunned venture-capital suitors for years—until a North Dakota-based venture capital firm emailed it with the right message.
Upper Hand said it plans to use the money to boost its sales team and its software. The company has raised $2.1 million since last spring.
The 3-year-old marketing-tech company corralled notable Midwest and East Coast investors in the deal, which is the second-largest in Indiana this year.
