After realizing the majority of venture capital firms focus on coastal companies, Kelli Jones saw an opportunity to invest in underrepresented midwestern founders.
“The talent is here; the entrepreneurs are here,” says Jones, referring to the momentum behind businesses in the Midwest and the graduates emerging from the region’s top engineering schools. “I moved back home to Indianapolis because I saw the opportunity to move quicker. There’s really not a lot going on that’s focused on diverse founders in the Midwest.”
On Monday, Jones announced the launch of her Indiana-based VC firm Sixty8 Capital’s first $20 million fund, backed by investors including Allos Ventures, the Indiana Next Level Fund, 50 South Capital, Bank of America, Eli Lilly and Co., First Internet Bank and the Central Indiana Community Foundation. To start, Sixty8 Capital will invest from $250,000 to $500,00 in 30 pre-seed and seed-stage companies led by entrepreneurs who are people of color, women, LGBTQ+ or have disabilities. Its first portfolio company is Black-owned, Indianapolis-based phone screening platform Qualifi. Companies can apply via the firm’s online application.
