State’s venture capital activity tapers
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According to a venture activity report released by Indianapolis-based Elevate Ventures, the Hoosier State is well-positioned for a strong year despite a national slowdown in venture activity in the first half of the year. The 1H 2022 Indiana Venture Report shows Indiana generated 88 deals during the first half of the year, compared to 89 during the same period last year.
The report, which provides a mid-year assessment of the state’s venture investment activity, examines national and regional venture capital trends compared across sectors, stages and regions.
Additionally, there were 21 later-stage deals, more than the 17 that occurred in 2021. Elevate Ventures says the increase in later-stage deals is reflective of investor confidence in the state’s startup ecosystem and willingness to put capital into established companies.
“We’re seeing continued interest in the state from investors, but at a more measured pace than what we saw last year,” said Elevate Ventures Chief Executive Officer Christopher Day. “It’s encouraging to see the diversity of geography and industries represented in Indiana’s venture ecosystem. As more talent and investment enter the state, we are confident that it will continue to grow.”
The report also found that while the deal count remained relatively unchanged, investment funding declined from $708 million in the first half of 2021 to $304 million in the first six months of 2022. Additionally, advanced manufacturing companies saw an uptick in venture capital investment, with nine deals in 2022 compared to five in 2021.
The report also found that the north central Indiana region saw strong growth, with $27.3 million invested in 2022.
You can read the full report by clicking here.