The CEO of Indianapolis-based Elevate Ventures will soon be stepping down. The organization said Chris LaMothe, who has served in the role since 2015, will leave in March to “pursue a variety of ventures.”
LaMothe’s last day at Elevate will be March 31.
During LaMothe’s tenure, Elevate Ventures has grown to 16 funds with $150 million in assets under management and has invested nearly $125 million in about 450 startups, the firm said.
The company also formed five regional partnerships with entrepreneurship support organizations and launched Elevate Nexus with the goal of encouraging innovation and entrepreneurship programming at higher education institutions throughout the state.
“We are grateful for Chris’ leadership and the team he built and shepherded,” Elevate Chairman Robert Myer said in written remarks. “Through his vision, Elevate has generated great economic impact from its investments in startups as well as its venture development activities. We are primed for continued growth and have formed a search committee for the difficult task of finding a successor.”
LaMothe led the Indiana Chamber of Commerce from 1992 to 2002, helping it grow it from the 42nd- to the fifth-largest U.S. organization of its kind. He was president of Oxford Financial Group from 2002 to 2006 and CEO of Sherry Laboratories from 2006 to 2013. He has been chairman of the Indiana Commission for Higher Education since 2017.