Venture capital firm Allos Ventures has closed its Allos IV fund, which invests in high-growth, early-stage B2B technology and software companies in the Midwestern United States, according to a statement on Wednesday (Feb 16). Press release.
The Allos IV fund will target Series A funding rounds, but will also be used for early-stage investments in smaller rounds for startups, the announcement said.
“The need for early-stage capital in Indiana and the greater Midwest continues to grow as talented founders launch and build innovative and disruptive technology companies,” said CEO Don Aquilano in liberation.
In addition to Aquilano, David Kerr and John McIlwraith are also managing directors, according to the announcement. Allos has offices in Indianapolis, Cincinnati and Chicago.
Allos IV's investors include Indiana Next Level Fund, 50S Capital and First Internet Bank of Indiana, as well as several technology entrepreneurs and Fortune 500 executives, the release said.
Since its founding in 2010, Allos has invested in more than 40 growth companies, according to the release. Among Allos' notable investments are Lessonly, Assurex Health, Aware, Encamp, OneCause, Rimsys, Authenticx and Maven.
Last week, S&P Global Market Intelligence published an analysis showing that venture capital funding of US FinTechs nearly doubled in both transaction value and volume. The company said the jump in transaction value was particularly surprising, but warned that 2022 could be a different story.
Read more: VC funding to US FinTechs doubled in 2021
“Falling valuations in the government equity market and potential interest rate hikes do not bode well for future investment activity,” according to the report.
“Private capital remained plentiful in January 2022, based on the aggregate total for all US industries, but we will be watching for signs of a slowdown,” the report said. “The total value of venture capital funding to US fintech companies soared in 2021, led by investment and capital markets tech-focused startups.”
