Indiana 21st Century Research and Technology Fund

The Indiana 21st Century Research and Technology Fund (also known as the 21 Fund) is a state-backed venture capital fund that provides early-stage investments to high-potential, high-growth entrepreneurial companies in Indiana. Established in 1999 by the Indiana General Assembly, it is managed by Elevate Ventures on behalf of the Indiana Economic Development Corporation (IEDC). The fund's goal is to stimulate Indiana's innovation economy by co-investing with private sector investors in companies across various sectors, including life sciences, information technology, and advanced manufacturing. Investments typically range up to a maximum of $2 million per company.