Investor profile

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Flywheel Fund

Micro-fund

USB2B SaaSAI/MLFintechHealthtechDevtoolsCybersecurityEnterpriseOther

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Investment thesis

Flywheel Fund is a member-managed venture capital fund based in Bloomington, Indiana, providing fast, founder-friendly capital to early-stage tech startups with a real Indiana nexus. The fund invests at pre-seed and seed stages in companies that have a built product and early customer traction, typically participating in rounds of $100K–$1.5M across sectors including SaaS, AI/ML, EdTech, HR Tech, HealthTech, Cybersecurity, and AgTech. Flywheel is the only Indiana-focused early-stage venture fund offering accredited investors diversification, professional management, and unparalleled access to deal flow at a low buy-in. The fund has a strong commitment to diversity, targeting a minimum of 13% of investments to Black founders and teams, and emphasizes backing founders with the drive and clarity to reach product-market fit while building diverse, scalable teams.

Notable quotes

We are thrilled to deepen our partnership with SecondSight and its talented team as they continue to revolutionize the Insurtech space. Since our initial investment, the team has significantly grown their customer pipeline and secured strategic partners & contracts – we're excited to continue supporting their growth as they scale.

Eric Steele · https://flywheelfund.vc/1732-2/ · 2025-01-07

Folia solves a long-standing organizational challenge that's been exacerbated by the rise of remote work: how to build shared knowledge. Folia's tools allow organizations to assemble and share valuable information from a wide range of sources, while also collecting team insights on that information in real time, in a secure, user-friendly interface. Folia's already got significant traction in the market, and we think they're well-positioned for expansion.

Brian Hatton · https://flywheelfund.vc/flywheel-fund-participates-in-folias-2-million-seed-round/ · 2022-05-25

If you get too attached to your solution prior to validating it with the active market, it can be dangerous. You can start with simple customer surveys or interviews. Develop an MVP as early as possible to test out the market, versus spending months or years building something in a black box and then launching it to the world, only to realize that customer demand isn't there.

Eric Steele · https://elevateventures.com/elevate-eir-eric-steele-prove-out-traction-as-early-as-possible/ · 2019-03-12

Team

Eric Steele

Managing Partner

B2B SaaSAI/MLHealthtechFintechCybersecurity

Martina Fausto

Senior Analyst

B2B SaaSAI/MLEnterprise

Scott Reynolds

General Counsel

Brian Hatton

Venture Partner

B2B SaaSEnterprise

Recent investments

CompanyRoundSizeDate
Neighbor ServeSeed2026-02-01
Prediction GuardSeed$4m2025-05-13
Amplified SciencesSeed2024-11-01
Habits Inc.Pre-seed2024-11-01
YourcoSeed$2m2023-10-24
LaxisSeed$2m2023-10-01
AerovySeed2023-10-12
SecondSightSeed$1m2022-10-12
FoliaSeed$2m2022-05-25
Civic ChampsPre-seed$615k2022-06-01

Frequent co-investors

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