VC  Triathlon Medical Ventures

     Office Locations:

Indianapolis, IN
Phone: 317-280-8233

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  • Early
  • Expansion
  • Growth



  • Life Sciences & Healthcare



    Founded 2004, Triathlon Medical Ventures is a Midwest-based venture capital firm that invests exclusively in the life sciences. The firm provides equity capital to early and expansion stage companies with proprietary biomedical technology platforms or products addressing significant human healthcare needs. Triathlon is geographically focused on early stage opportunities in the Midwest, but will also invest in later stage companies nationwide. Triathlon will invest from $0.5 to $3 million in the initial round and up to $7 million total per company in subsequent rounds. The firm is headquartered in Cincinnati, with offices and partners in Indianapolis and Louisville.

    Investment Firm Key

       VC = Venture Capital
       PE = Private Equity
       A = Angel
       I = Incubator
       MB = Merchant Bank
       VD = Venture Debt
       FI = Family Investment Office
       FOF = Fund of Funds
       ED = Economic Development Office   
       TT = Technology Transfer Office
       CVC = Corporate Venture Capital
       SEC = Secondary Purchaser
       HF = Hedge Fund/Mutual Fund
    Venture Capital
    Seed Stage
    (includes "pre-seed," or
    concept stage)
    No Revenue
    Early StageMinimal
    Growth Stage
    (also called Mid-stage)
    Expansion Stage
    (also called Late-stage)
    $7M and greater
    Private Equity
    Lower Middle Market$10M-$249M
    Middle Market$250M-$499M
    Upper Middle Market$500M-$1B
    Large Cap>$1B

    Investment Team:

    Name   Title
    Get the complete investment team + individual email addresses for investment team partners. Get personal images, LinkedIn links, investment specialties, office locations and more with a National Database subscription.
    Carrie Bates Managing Partner
    Dennis B. Costello Co-Founder and Managing Partner
    John M. Rice Ph.D. Managing Partner
    Mark Collar Venture Partner
    Randy H. Weiss Ph.D. Partner


    Portfolio companies include:

      Aerpio Therapeutics
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      Akebia Therapeutics
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      Cardio Polymers
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      Colucid Pharmaceuticals
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      Expanding Orthopedics
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      Juventas Therapeutics
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      Pironrx Therapeutics
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      Remon Medical Technologies
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      Renal Solutions
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      SironRX Therapeutics
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      Tolera Therapeutics
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