In a statement released by Indianapolis based High Alpha, they announced a $35M fund to create, operate, and fund enterprise cloud companies. This specifically focuses on the launch of two new initiatives: High Alpha Studio and High Alpha Seed. The newly launched venture studio is said to be the first of its kind, as it will bring together company creation with venture funding in the enterprise cloud space.
According to the release, High Alpha Studio “creates, operates and supports new companies by providing a blend of services including: product development, sales and marketing, finance, brand and design, and talent development.” Whereas High Alpha Seed “invests in High Alpha Studio companies and other emerging enterprise cloud companies.”
High Alpha will be led by Scott Dorsey, Mike Fitzgerald, Eric Tobias, and Kristian Andersen, all of whom worked at, founded, or partnered with ExactTarget, which was later sold to SalesForce for $2.5B in 2013. Of the leading team, they have extensive backgrounds in the services and solutions that High Alpha are reportedly offering.
“High Alpha introduces a new model for building and funding next generation enterprise tech companies, and we believe the High Alpha team is uniquely equipped to pioneer this approach,” said Scott Dorsey, Managing Partner of High Alpha.
Right out the gate High Alpha will be supporting three enterprise cloud service providers: TinderBox, Lesson.ly, and Visible. Each company has a representative on High Alpha’s initial leadership team.
“I am excited to partner with Mike, Kristian, Eric and leading software investors like Emergence Capital, Greenspring Associates, Hyde Park Venture Partners and many strategic angels to create, operate and fund next generation enterprise cloud companies,” said Dorsey. “High Alpha combines company creation with the early stage capital, expertise and resources needed to build high velocity software companies. We look forward to building great companies and making a huge impact on our community.”
High Alpha is backed by venture capital firms Emergence Capital, Greenspring Associates, Hyde Park Venture Partners, and Strategic Angel Investors. Of the ventures, two had previous relationship with the leaders of High Alpha. West Coast-based Emergence Capital was an early investor in Salesforce.com, Box, Yammer and Veeva; and East Coast-based Greenspring Associates were early investors in ExactTarget, Midwest-based Hyde Park Venture Partners and strategic angel investors.
“Indianapolis is quickly becoming an epicenter of innovation and is producing some of America’s most promising high growth tech companies,” said Tim Kopp, Managing Director for Hyde Park Venture Partners Indianapolis. “With its incredible base of experienced talent, competitive cost structure, and supportive state and local governments, the Midwest is a great environment to build and grow the next generation of market leading companies. We’re excited that High Alpha is capitalizing on these elements and is setting roots right here in the Midwest.”