10.26.22
What’s the state of venture capital funding in Fort Wayne, and how can it be more inclusive?
Lauren Caggiano, Input Fort Wayne
Excerpts
What comes to mind when you hear the phrase “venture capital”? For many, it conjures up images of wealthy people on the West Coast who have the means to invest thousands of dollars in what they think is going to be the “next big thing.”
While that is true on some level, there’s more to the story than meets the eye. Across the U.S., annual Venture Capital (or VC) funding has increased from 2013 to 2021 by more than four times, going from $22 billion to $96 billion. But there’s still a lack of Venture Capital funding available in Northeast Indiana.
As Director of the Women’s Entrepreneurial Opportunity Center at the Northeast Indiana Innovation Center, Leslee Hill is also working to address this disparity. Hill and her team have launched a program called The Glass Floor Network to educate female and nonbinary business owners and their potential supporters on angel investing. Angel investors are individuals with means who invest their own money into startup ventures, whereas venture capital investors are employed by an organization, where they invest other people’s money.
