# Investors based in Indiana (2026 list) > 221 investors based in Indiana, 2% active in the last 12 months. Led by Eli Lilly, High Alpha, Lilly Ventures. Ranked by what they funded. Source: https://millionrounds.com/lists/investors-based-in-indiana (Millionrounds; every figure on the page links to its filing or article) [Investor Lists](https://millionrounds.com/lists) # Investors based in Indiana Updated 7 November 2026 Firms headquartered in Indiana. Location comes from the address on the record, which for US firms is usually a city and state. [See all 221 *→*](https://millionrounds.com/login?join=1&next=%2Fapp%2Finvestor-lists%2Finvestors-based-in-indiana)The top 25 **221** investors on the list *+1* this week **51** cheques in 12 months *+14%* against the market **$6M** median round they joined *-25%* against the market median **2%** wrote a cheque in 12 months **1%** have led a round ## The Top 25 Ordered by cheques observed, never by anything anyone paid for Deploying now (4) - 1 [Eli Lilly](https://millionrounds.com/fund/eli-lilly) *Deploying now* Corporate VC · United States **137** **$56M** median round **Nov 2026** last seen - 2 [High Alpha](https://millionrounds.com/fund/high-alpha) *Deploying now* VC firm · United States **84** **$6M** median round **Aug 2026** last seen - 3 [Lilly Ventures](https://millionrounds.com/fund/lilly-ventures) quiet Corporate VC · United States **28** **$45M** median round **Oct 2025** last seen - 4 [Heron Capital](https://millionrounds.com/fund/heron-capital) quiet VC firm · United States **8** **$12M** median round **Jun 2015** last seen - 5 [BioCrossroads](https://millionrounds.com/fund/biocrossroads) quiet VC firm · United States **7** **$3M** median round **Sept 2019** last seen - 6 [Gravity Ventures](https://millionrounds.com/fund/gravity-ventures) quiet Angel network · United States **7** **$2M** median round **Feb 2012** last seen - 7 [Lumina Impact Ventures](https://millionrounds.com/fund/lumina-impact-ventures) *Deploying now* Corporate VC · United States **7** **$11M** median round **Sept 2026** last seen - 8 [CID Capital](https://millionrounds.com/fund/cid-capital) quiet Private equity · United States **6** **$15M** median round **Oct 2012** last seen - 9 [Elevate Ventures](https://millionrounds.com/fund/elevate-ventures-2) quiet Angel network · United States **5** **$1M** median round **Jul 2013** last seen - 10 [Simon Property Group](https://millionrounds.com/fund/simon-property-group) quiet Corporate VC · United States **4** **$2.6M** median round **Oct 2015** last seen - 11 [AGS Capital](https://millionrounds.com/fund/ags-capital-llc) quiet Private equity · United States **3** **$30M** median round **Sept 2012** last seen - 12 [Ground Game](https://millionrounds.com/fund/ground-game) quiet VC firm · United States **2** **$7.7M** median round **Aug 2025** last seen - 13 [VisionTech Partners](https://millionrounds.com/fund/visiontech-partners-visiontech-angels) quiet Angel network · United States **2** **$1.3M** median round **Feb 2017** last seen - 14 [Boomerang Ventures](https://millionrounds.com/fund/boomerang-ventures) quiet VC firm · United States **1** **$5M** median round **Jun 2019** last seen - 15 [ConnectThink](https://millionrounds.com/fund/connectthink) quiet VC firm · United States **1** **$200K** median round **Jul 2013** last seen - 16 [Herff Jones](https://millionrounds.com/fund/herff-jones) quiet Corporate VC · United States **1** **$26M** median round **Jul 2013** last seen - 17 [Indiana Economic Development Corporation](https://millionrounds.com/fund/indiana-economic-d) quiet VC firm · United States **1** **$2.5M** median round **Aug 2014** last seen - 18 [Raidious](https://millionrounds.com/fund/raidious) quiet VC firm · United States **1** **$200K** median round **Jul 2013** last seen - 19 [Strada Education Foundation](https://millionrounds.com/fund/strada-education-foundation) *Deploying now* VC firm · United States **1** **$13M** median round **Jul 2026** last seen - 20 [6T Ventures](https://millionrounds.com/fund/6t-ventures) unknown VC firm · United States **none observed** **-** median round **-** last seen - 21 [765 Ventures](https://millionrounds.com/fund/765-ventures) unknown VC firm · United States **none observed** **-** median round **-** last seen - 22 [AB Holdings](https://millionrounds.com/fund/ab-holdings-2) unknown Investment firm · United States **none observed** **-** median round **-** last seen - 23 [AFM Capital Partners](https://millionrounds.com/fund/afm-capital-partners) unknown Private equity · United States **none observed** **-** median round **-** last seen - 24 [Acuity Capital Group](https://millionrounds.com/fund/acuity-capital-group) unknown Company · United States **none observed** **-** median round **-** last seen - 25 [Allison Transmission Holdings](https://millionrounds.com/fund/allison-transmission-holdings) unknown Investment firm · United States **none observed** **-** median round **-** last seen **196 more on this list** All 221 are in the app, with filters for stage, sector and market. A free account shows 10 per search, Pro up to 1,000. [See the whole list *→*](https://millionrounds.com/login?join=1&next=%2Fapp%2Finvestor-lists%2Finvestors-based-in-indiana) ## The Newest Cheques Rounds this list's investors joined most recently - **5** Nov **[T-Therapeutics](https://millionrounds.com/company/t-therapeutics)** Series B · $133M *With* [Eli Lilly](https://millionrounds.com/fund/eli-lilly) - **2** Nov **[General Medicine](https://millionrounds.com/company/general-medicine)** Series B · $120M *With* [Eli Lilly](https://millionrounds.com/fund/eli-lilly) - **24** Sept **[BigHat Biosciences](https://millionrounds.com/company/bighat-biosciences)** Series C · $75M *With* [Eli Lilly](https://millionrounds.com/fund/eli-lilly) - **16** Sept **[Brighteye](https://millionrounds.com/company/brighteye)** Other · $72M *With* [Lumina Impact Ventures](https://millionrounds.com/fund/lumina-impact-ventures) - **15** Sept **[Thatch](https://millionrounds.com/company/thatch)** Series C · $108M *With* [Eli Lilly](https://millionrounds.com/fund/eli-lilly) - **8** Sept **[Caspian Therapeutics](https://millionrounds.com/company/caspian-therapeutics)** Series A · $50M *With* [Eli Lilly](https://millionrounds.com/fund/eli-lilly) ## Stages This Year 50 rounds - Venture **22%** - Series B **18%** - Other **16%** - Series A **14%** - Seed **10%** - Other **20%** ## What They Backed Sectors, last 12 months - Biotech **25** - AI **12** - Healthcare **9** - Pharma **5** - Cybersecurity **2** - Hardware & Electronics **2** ## Cheques by Quarter Led Joined 9 Q1 25 11 Q2 25 18 Q3 25 13 Q4 25 11 Q1 26 11 Q2 26 22 Q3 26 2 Q4 26 The last bar is the quarter still running. ## Lists Like This - [Investors based in New York 9,261](https://millionrounds.com/lists/investors-based-in-new-york) - [Investors based in California 3,760](https://millionrounds.com/lists/investors-based-in-california) - [Investors based in Washington 3,203](https://millionrounds.com/lists/investors-based-in-washington) - [Investors based in Texas 2,254](https://millionrounds.com/lists/investors-based-in-texas) - [Investors based in Florida 1,053](https://millionrounds.com/lists/investors-based-in-florida) - [Investors based in Massachusetts 1,010](https://millionrounds.com/lists/investors-based-in-massachusetts) - [Investors based in Delaware 720](https://millionrounds.com/lists/investors-based-in-delaware) - [Investors based in Illinois 576](https://millionrounds.com/lists/investors-based-in-illinois) - [Investors based in Connecticut 464](https://millionrounds.com/lists/investors-based-in-connecticut) [All investor lists *→*](https://millionrounds.com/lists) ## Quick answers about investors based in Indiana ### Who are the most active investors based in Indiana? By cheques observed, the most active are Eli Lilly, High Alpha, Lilly Ventures, Heron Capital and BioCrossroads. ### How many investors based in Indiana are there? 221 are on record. 2% made an investment in the last 12 months and 1% have led a round. ### Which stages do investors based in Indiana back? Of the rounds with a named stage in the last 12 months, mostly Series B (30%) and Series A (23%). ### How big are the rounds investors based in Indiana join? The typical (median) round among the leading investors here is $6M. ### Which sectors do investors based in Indiana back most? In the last 12 months, mostly Biotech, AI and Healthcare. ### Which investors based in Indiana lead the most rounds? High Alpha (4 led) and Lumina Impact Ventures (1 led). ### What have investors based in Indiana invested in recently? Recent rounds include T-Therapeutics (Series B, Nov 2026, with Eli Lilly), General Medicine (Series B, Nov 2026, with Eli Lilly) and BigHat Biosciences (Series C, Sept 2026, with Eli Lilly). ### How is this list of investors based in Indiana ranked? By cheques observed, from the rounds and filings we watched, and never by anything anyone paid for. It is rebuilt every night. Built from the rounds we watched, refreshed every night. [How we count](https://millionrounds.com/methodology) · [Report a correction](https://millionrounds.com/corrections)