Indiana's Venture Capital Slows

The flow of venture capital in Indiana slowed last year, but the state still brought in nearly twice as many dollar as the year previous. Hoosier life science firms brought in a combined $75.4 million in venture money last year, according to data provide by BioEnterprise, a Cleveland-based life sciences group and Mid-America Healthcare Investors Network, a consortium of VC firms.

Last year's numbers were down 44 percent from the previous year, but its doubled figure still reached $37.2 million.

Throughout the Midwest, VC investments fell 11%, to $1.1 billion. But the numbers were up to 37% over 2006.

Ohio and Minnesota have continued to be the leading states for the sciences investments. In Indiana, seven firms have received investments in 2008, down from 10 the year before.

Two of these companies were in the Indianapolis area. Bloominton-based ProCure Inc. received a $35 million investment, and QuadraSpec Inc. got a $2.45 million from Clarian Health Ventures.

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