Ivy Ventures

Ivy Ventures is a Carmel, Indiana-based venture capital firm founded in 2022 and launched with a $20 million fund raised from Midwest investors. The firm targets early-stage startups in enterprise software, healthcare IT, and hard technology, with check sizes of $500,000 to $2 million. Co-founded by General Partner Scott Kraege, Mike Reynolds (CEO of Innovatemap), and John Wortman (CEO of Valeo Financial Advisors), Ivy Ventures operates as a founder-led, operator-based fund. Kraege previously co-founded and led Mobi Wireless Management LLC, a software firm with approximately 315 employees that was acquired by Tangoe Inc. in late 2018. The firm distinguishes itself through a smart capital approach in which portfolio companies are vetted, funded, and supported by seasoned operators, investors, and product experts. Corporate partners Innovatemap and Valeo Financial Advisors provide built-in portfolio support for market research, product design, branding, and financial advisory services. The fund has recruited a curated advisory team with vertical industry expertise alongside horizontal capabilities in product, finance, and operations. The initial portfolio includes three companies: Mobile ReCell Inc. in Fishers, Indiana, focused on IT asset tracking and recovery; Learnexus in New York City, an e-learning platform; and Native AI in New York City and Cincinnati, a generative AI market intelligence platform that raised $3.5 million to create digital customer clones. Ivy Ventures focuses on identifying high-potential founders across the Midwest and beyond, with its operator-led model providing portfolio companies with practical guidance on company building at the stage where capital alone is insufficient. The fund's founding team brings direct experience scaling software businesses to acquisition, which informs its selection and support of early-stage founders in similar trajectories.