For tech companies in the Midwest, the name “High Alpha” is practically synonymous with growth and opportunity. Few VC firms have had a bigger impact on the Midwest (particularly Indianapolis).

And last week, High Alpha’s plans got even bigger. The VC firm announced the closing of an additional $110 million fund, called High Alpha Capital III. It’s the largest venture capital fund in Indiana’s history.

The first investment from High Alpha Capital III was an $8 million Series A for Chicago-based Rheaply, which we covered in a previous issue of The Spark. The partners followed up by investing in Malomo, Terminus, and Boardable, all based in Indy.

Partner Kristian Andersen says “We’ve proven you can break out a venture-scalable business in a place like Indy.”

There’s been a massive influx of VC capital into the Midwest over the past five years. The region’s median fund size climbed from $8 million in 2015 to $41 million in 2020.

High Alpha’s venture studio also co-founds and launches new software companies throughout the Unvalley. Recent ventures include Casted, Lessonly, and Zylo, as well as Base, some of 2020 Powderkeg Tech Culture Award winners. 

High Alpha is giving back to Indy in other ways, too. They just finished a 42,000-square-foot community space in the Bottleworks District, planning to make it into a Midwest hub for entrepreneurship.

Want to be a part of the Indy buzz? Find out more about the city and explore the top startups and companies in Indianapolis. 

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Minding The Gap Between Great Teams And Data With Mark Clerkin Of High Alpha