INDIANAPOLIS--(BUSINESS WIRE)--Allos Ventures, an Indianapolis-based venture capital firm focused on building high-growth tech companies in the Midwest, announces the first close of its latest fund, Allos III. The new fund will continue the firm’s focus on investments in early-stage B2B software and tech-enabled service companies based in the Midwest. While the fund will primarily target leading Series A and B rounds, it will also join seed stage investors in smaller rounds for startups. Allos is led by VC and SaaS veterans Don Aquilano, John McIlwraith and David Kerr.
“The human capital in our state and region is incredible, and we have the opportunity to invest in passionate, Midwest entrepreneurs who build innovative and disruptive companies,” said Aquilano, co-founder and managing partner at Allos. “Building startups to financial success has positive, community-wide implications, and we’re proud to continue supporting the ecosystem in Indiana and the Midwest with Allos III.”
Allos raised funds from the Next Level Indiana Fund and Indiana University Foundation, as well as Midwest tech luminaries like David Becker, founder and CEO of First Internet Bank of Indiana and Mark Hill, managing partner of Collina Ventures and CEO of Lumavate.
“The dynamic of venture funding in our state continues to grow with seasoned investors like the Allos team infusing capital into the market,” said Hill. “Our B2B-software community is fortunate to have this experienced team at the helm of one of the most prolific early-stage focused funds in the region.”
The new fund’s first investment is in rapidly-growing Indy startup PERQ, a provider of online-guided shopping software that uses artificial intelligence to increase website conversions by engaging consumers and guiding them down the buying funnel.
“We are thrilled to have Allos Ventures as an investor in our company and look forward to leveraging their years of success building early-stage software companies as we seek to accelerate our growth and enter new markets,” said Andy Medley, co-founder and CEO of PERQ.
Since Allos was founded nine years ago, it has invested in more than 20 promising tech companies and has been recognized as the most active venture firm in Indiana. The firm has achieved several successful exits including Cincinnati-based Assurex Health, which was sold to Myriad Genetics for $290 million, Detroit-based PeachWorks, which was sold to Beyond, Indianapolis-based Octiv, which was acquired by Conga, and Chicago-based Revenew, which was sold to Aprimo. Current Allos Ventures investments include Scale Computing, Emplify, Lessonly, OneCause, Blue Pillar, enosiX, Bolstra, and 7Signal, among others.
To learn more about Allos Ventures and its portfolio, visit AllosVentures.com.
About Allos Ventures:
Allos Ventures invests in early-stage technology companies based in the Midwest. Investments focus on B2B software companies at a Series A or B stage, augmenting the capital provided by seed and startup investors. In addition to the capital Allos provides, portfolio companies benefit from the extensive operating and business-building experience of the firm’s managing partners, who make themselves available as needed to support each portfolio company’s growth.