INDIANAPOLIS (Feb. 1, 2026) — TechPoint today released its 2025 Venture Report, an annual analysis of venture capital investment trends shaping Indiana’s innovation economy. The report provides a comprehensive look at the national and state levels, highlighting a year defined by recalibration and renewed focus on long-term value creation. New this year, the report also features Indiana’s top venture capital financings and M&A / IPO transactions of 2025, which together represent the finalists for the Deal of the Year Mira Award. Winners will be announced live at the 27th annual Mira Awards on April 24. “After several years of rapid expansion followed by sharp correction, 2025 marked a year of calibration for venture capital,” said Chelsea Linder, vice president of innovation & entrepreneurship at TechPoint. “Investors exited the year with greater clarity around pricing, risk tolerance, and where durable value is being created.” [...]