Allos Ventures, one of just a few venture capital firms focused on investing in early-stage startups, recently ditched its traditional office tower digs and moved to Launch Fishers.
Allos moved into the popular co-working space about two weeks ago, shortly after Launch Fishers opened its new 56,000-square-foot facility at 12175 Visionary Way on March 7. Previously, Launch Fishers occupied 16,000 square feet in the basement of the Hamilton East Library.
Allos, founded in 2010, had leased space in an office tower near 116th and Meridian streets. Managing Partner Don Aquilano said that lease came up for renewal at the end of February and the firm opted to move near startup activity.
"We want to be in the thick of things, we want to be where it's happening, and we want to be a sounding board for entrepreneurs if they have questions like, 'When do you raise money? How do you raise money? Do we need to need to raise money?'" Aquilano said.
"And for us, hey, we want to fund some of these guys," he said. "So let's live with them, let's get to know them, let's work with them."
Allos has a team of six, including three partners. Only Aquilano and an office manager will be working at Launch Fishers, setting up shop in two workstations with sliding doors. Aquilano said he plans to hire an analyst soon.
Allos is on its second fund, $40 million raised from roughly 100 investors across the country, mostly in the Midwest. It typically invests $2 million to $4 million in startups, Aquilano said, targeting firms that have annual revenue of $1 million to $3 million.
"Oftentimes, we've invested in companies with only a few hundred thousand in revenue," he said, "and sometimes the companies are a little more mature."
Some of its portfolio companies include Tinderbox Inc., WebLink International and Bluebridge Digital LLC.
Launch Fishers has about 550 individual members representing over 300 enterprises, ranging from sole proprietorships to large companies like Roche Diagnostics, which has 15 people at the space.
"When you look at the need for these types of startups that we work with to get access to capital, it is really, really hard for these companies to find investors," said Launch Fishers founder John Wechsler.
"And having that visible presence among this large community of startups and entrepreneurs," Wechsler said about Allos, "is very significant, we think."