Venture Capital

Entrepreneurs lose clout as VC funds get stingier

March 27, 2010
Scott Olson
Most local venture funds are standing pat because the economy is weak and they’re no longer in fund-raising mode. Having invested most of their funds, the firms have shifted to the nurturing, or “harvesting” stage, to try to improve investment returns.
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Big guns behind Allos Ventures tech fund

March 20, 2010
Chris O'Malley
The region’s blossoming technology sector is about to get another shot of financial fertilizer. The newly formed Allos Ventures has raised $20 million from investors and plans to focus on early-stage tech companies.
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Scale Computing lands $9M from Silicon Valley venture firm

March 9, 2010
Chris O'Malley
Data-storage upstart Scale Computing on Monday announced a $9 million investment from Silicon Valley venture firm Benchmark Capital. The infusion will help kick-start a global sales expansion focused on Japan and Europe, said Scale CEO Jeff Ready.
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Chinese investors financing startup, early stage companiesRestricted Content

February 27, 2010
Norm Heikens
Indiana entrepreneurs weary of hitting dry holes with angel investors and venture capitalists are turning to Chinese investors who are eager to diversify their portfolios, latch onto American innovations—and take advantage of a federal visa program.
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Startup VoCare Inc. might move to find venture capital dollars

February 13, 2010
 IBJ Staff
A Lebanon-based startup wants to build a call center here and add up to 300 jobs, but state and local officials are struggling with a big obstacle to keeping the company here.
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Health care venture capital swoons in Indy, holds steady statewide

February 6, 2010
 IBJ Staff
The uncertainty of health care reform and a bad economy curtailed venture capital flow in 2009.
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Health firms still attracting venture capital

February 3, 2010
J.K. Wall
The uncertainty of health care reform and a bad economy curtailed venture capital flow in 2009. That trend hit Indianapolis, but the rest of the state actually saw an increase.
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Entrepreneur says quality of venture capital as important as quantity

January 2, 2010
 IBJ Staff
Jim Pearson knows a thing or two about raising money from venture capitalists. And he has some advice for BioCrossroads: Teach entrepreneurs the value of money.
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First Indiana Future Fund off to a slow startRestricted Content

December 19, 2009
Peter Schnitzler
More than half of the venture capital fund's original investors took a pass on its $58 million successor, the newly launched INext.
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New BioCrossroads venture fund raises $58 million

December 16, 2009
Peter Schnitzler
The new INext fund is the successor to the $73 million Indiana Future Fund, which the life science initiative raised in 2003.
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Lilly launching new venture capital fund

December 10, 2009
J.K. Wall
The fund would acquire experimental drugs and use Lilly R&D staff to try to prove their effectiveness, perhaps boosting Lilly's drug pipeline.
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$75M investment in ExactTarget may be Indianapolis recordRestricted Content

December 5, 2009
Chris O'Malley
The amount raised since October is in addition to the $69.9 million it received in May from three venture firms on the coasts, in what was the third-largest venture deal in the nation during the second quarter, according to the National Venture Capital Association.
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Indiana University launches $10M seed fund

December 4, 2009
Peter Schnitzler
The Innovate Indiana Fund will invest $5 million over the next five years to commercialize IU technologies and another $5 million to help IU-affiliated startups get off the ground.
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Pace of life sciences venture capital deals in Indiana picks up

October 31, 2009
 IBJ Staff
After no Indiana health and life sciences firms announced venture capital deals in the second quarter, five did so in the third, and two more have already this month.
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Indianapolis-based FAST Diagnostics gets funding from BioCrossroads' seed fund

October 24, 2009
 IBJ Staff
Money will help the company refine its tool to treat acute kidney injury.
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My Health Care Manager lands $3 million investmentRestricted Content

October 10, 2009
Peter Schnitzler
The company, which guides working adults and their parents through the maze of decisions and agencies involved in care for seniors, plans to use the money primarily to augment its sales staff and operations.
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Purdue student-inventor nabs VC on TV show

September 30, 2009
 IBJ Staff
A Purdue University student who invented a soy-based modeling dough walked away with a $300,000 investment after appearing Tuesday on the ABC show "Shark Tank."
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Venture firms recapitalize Advanced Physical Therapy LLC

August 29, 2009
 IBJ Staff
Locally based venture capital firms Cardinal Equity Partners and Centerfield Capital Partners have joined with Chicago-based bank Harris NA to recapitalize the state’s largest independent physical therapy provider.
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Emerging life sciences companies grabbing more in government grantsRestricted Content

August 10, 2009
Chris O'Malley
More emerging life science companies have found life in the form of federal Small Business Innovation Research grants.
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Lilly reorganizes venture capital unitRestricted Content

August 10, 2009
Peter Schnitzler
Eli Lilly and Co. has reorganized its venture capital division and simultaneously poured in an additional $25 million.More

Is Indiana coming out of venture capital swoon?

August 3, 2009
 IBJ Staff
Carmel-based Dormir LLC’s announcement July 29 of $12 million in venture financing was the second local life sciences deal announced in July. It could suggest a turnaround from a woeful second-quarter performance, when Indiana life sciences firms announced zero venture capital deals.
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Carmel's Dormir raises $12M from venture capital firms

July 29, 2009
J.K. Wall
Carmel-based Dormir Inc., which operates sleep study centers and sleep equipment stores around the country, raised $12 million in venture capital from three out-of-state firms. The company plans use the proceeds to acquire six to 10 companies this year and more next year, according to CEO Tim Miller.
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Carmel's Dormir raises $12M from VC firms

July 29, 2009
J.K. Wall
Carmel-based Dormir Inc., which operates sleep study centers and sleep equipment stores around the country, raised $12 million in venture capital from three out-of-state firms.
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Angel investment group off to flying startRestricted Content

May 11, 2009
Scott Olson
HALO Capital injects $8 million into startups in first year of operation despite recession and membership turnover.
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Recession has a domino effect on venture capitalRestricted Content

May 11, 2009
Peter Schnitzler
Call it a trickle-down effect, but not the kind President Reagan would have liked. The recession has cost most institutional investors, such as university endowments, about a quarter of their value. As a result, venture capitalists' primary source of funding has dried up. The implications for Hoosier entrepreneurship are stark.
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  1. By Mr. Lee's own admission, he basically ran pro-bono ads on the billboard. Paying advertisers didn't want ads on a controversial, ugly billboard that turned off customers. At least one of Mr. Lee's free advertisers dropped out early because they found that Mr. Lee's advertising was having negative impact. So Mr. Lee is disingenous to say the city now owes him for lost revenue. Mr. Lee quickly realized his monstrosity had a dim future and is trying to get the city to bail him out. And that's why the billboard came down so quickly.

  2. Merchants Square is back. The small strip center to the south of 116th is 100% leased, McAlister’s is doing well in the outlot building. The former O’Charleys is leased but is going through permitting with the State and the town of Carmel. Mac Grill is closing all of their Indy locations (not just Merchants) and this will allow for a new restaurant concept to backfill both of their locations. As for the north side of 116th a new dinner movie theater and brewery is under construction to fill most of the vacancy left by Hobby Lobby and Old Navy.

  3. Yes it does have an ethics commission which enforce the law which prohibits 12 specific items. google it

  4. Thanks for reading and replying. If you want to see the differentiation for research, speaking and consulting, check out the spreadsheet I linked to at the bottom of the post; it is broken out exactly that way. I can only include so much detail in a blog post before it becomes something other than a blog post.

  5. 1. There is no allegation of corruption, Marty, to imply otherwise if false. 2. Is the "State Rule" a law? I suspect not. 3. Is Mr. Woodruff obligated via an employment agreement (contractual obligation) to not work with the engineering firm? 4. In many states a right to earn a living will trump non-competes and other contractual obligations, does Mr. Woodruff's personal right to earn a living trump any contractual obligations that might or might not be out there. 5. Lawyers in state government routinely go work for law firms they were formally working with in their regulatory actions. You can see a steady stream to firms like B&D from state government. It would be interesting for IBJ to do a review of current lawyers and find out how their past decisions affected the law firms clients. Since there is a buffer between regulated company and the regulator working for a law firm technically is not in violation of ethics but you have to wonder if decisions were made in favor of certain firms and quid pro quo jobs resulted. Start with the DOI in this review. Very interesting.

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