INDIANAPOLIS (Jan. 4, 2022) — Christopher LaMothe, who joined Elevate Ventures in 2015 as CEO, announced he will be stepping down from the organization effective March 31, 2022. “After close to seven years with Elevate Ventures, I’ve made the decision to step down,” said LaMothe. “It has been my high honor and privilege to work with the exceptionally talented staff at Elevate as well as hundreds of statewide partners in helping build innovation and entrepreneurial ecosystems throughout Indiana.”
Elevate has grown to 16 funds with $150 million in assets under management and has invested $124.4 million in nearly 450 startups leveraging an additional $1.2 billion from private sources. In addition, Pitchbook has ranked Elevate the No. 1 most active venture capital firm in the Great Lakes Region since 2017.
Elevate’s growth parallels LaMothe’s passion for building regional ecosystems and enabling innovation and entrepreneurship on a broader basis. Elevate formed five regional partnerships with entrepreneurship support organizations and works closely with the Indiana Economic Development Corporation to boost the Indiana economy. Also, Elevate Nexus was launched to encourage innovation and entrepreneurship programming at higher-education institutions across Indiana.
LaMothe plans to pursue a variety of ventures consistent with his business, investment, civic and political interests.
“The state of Indiana and the Indiana Economic Development Corporation have enjoyed and appreciate our partnership with Elevate Ventures and are thankful for Chris’ steady leadership over the years. Our state is better for it,” said Indiana Secretary of Commerce Brad Chambers. “We look forward to working with the next generation of Elevate leadership in a collective effort to run faster and shoot higher to solidify Indiana as a top U.S. destination for innovators and entrepreneurs.”
Elevate Chairman Robert Myer said, “We are grateful for Chris’ leadership and the team he built and shepherded. Through his vision, Elevate has generated great economic impact from its investments in startups as well as its venture development activities. We are primed for continued growth and have formed a search committee for the difficult task of finding a successor.”