Elanco commits $25M to launch animal health venture fund in Indianapolis

Indianapolis-based animal health company Elanco (NYSE: ELAN) plans to launch a corporate venture capital arm backed by a $25 million multi-year commitment, the company announced last week.

The new platform, Elanco Ventures, will invest in startups developing therapeutics and supporting technologies across the animal health sector. It will prioritize early-stage companies at the Pre-Seed, Seed, and Series A stages, and is set to launch in late 2026.

Elanco describes itself as a global animal health company with 70 years in the industry, making products to prevent and treat disease in farm animals and pets. The firm said the fund will focus primarily on animal health but may also pursue opportunities in the broader One Health space, where animal, human, and plant health intersect.

"From pets to protein – the animal health industry has never been more relevant than it is today," said Jeff Simmons, Elanco's president and CEO, in the announcement. He said the corporate venture capital arm would let the company tap the startup landscape to expand its visibility into emerging technologies tied to pet care and rising global demand for protein.

The fund will draw on Elanco's role in the One Health Innovation District, an Indianapolis development anchored by the company alongside Purdue University in Indiana, and reported by us back in November. According to Elanco, the district is designed to bring life sciences researchers and entrepreneurs into one location to speed up commercialization.

"By identifying promising startup technologies and collaborating with the One Health Innovation District, we are better positioned to fast-track innovation that can redefine the future of animal health," said Tim Bettington, executive vice president of Elanco's Center of Strategic Growth.

Elanco Ventures will be overseen by Eric Steager, whom the company described as an experienced corporate venture capital leader and who has been involved in CVC operations at Purdue and Anthem, among others.

The company did not disclose how the $25 million will be deployed, the expected size or number of individual investments, or a target for portfolio companies. A launch date more specific than late this year was also not shared.

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