Indicator Ventures

General contacts

Investor type

PE / VC

Founded

2013

AUM

$200 M

Location

Boston, Massachusetts, United States

Investment Ticket

$1-5 m

Investment Stage

Series A Seed Pre-seed Series B

Region of investment

North America

Investor profile last updated: 21 August, 2026

Profile

Indicator Ventures is a venture capital firm based in Boston and New York, founded in 2013. The firm is led by three General Partners: Jon Struhl, Geoff Bernstein, and Baiyin Murphy, who bring a wealth of experience from various sectors. They focus on investing in high-velocity founders who are building innovative technology companies with unique business models or distribution strategies.

The firm primarily invests in pre-seed and seed-stage companies, with an initial check size ranging from $1-3 million. Indicator Ventures has a strong focus on sectors such as fintech, healthcare, and emerging technologies. They manage over $200 million in assets and have seeded more than 60 companies, contributing to a portfolio valued at over $10 billion.

Notable investments by Indicator Ventures include Dandy - operating system for dentistry, Databento - institutional market data on-demand, Beacon Biosignals - EEG foundation models for neuro, Starpath Robotics - manufacturing energy in space, and Edge Markets - settlement layer for next-gen financial markets.

Industry

E-commerce/Marketplace Financial Services Fintech Healthcare Services Marketing and Advertising Media and Entertainment SaaS Software AI HealthTech Consumer Products Consumer Services (B2C)

Indicator Ventures Funds

Name	Type	Industry	Stage	Region	Size	AUM	Launch date
Indicator Ventures II, L.P.	Venture Capital (VC)	Consumer Products Consumer Services (B2C) Financial Services Fintech SaaS Software HealthTech	Pre-seed Seed	North America	$5-10 m	—	October 2018
Indicator Ventures III, L.P.	Venture Capital (VC)	Consumer Products Consumer Services (B2C) Financial Services Fintech SaaS Software	Pre-seed Seed	North America	$5-10 m	—	January 2025

Contacts

Name

Title

Social Networks

Baiyin Murphy General Partner

General Partner

b•••@•••

Jonathan Struhl Co-founder & General Partner

Co-founder & General Partner

j•••@•••

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Investment-team contacts for Indicator Ventures — including verified work emails and LinkedIn profiles — are available to Private Equity List subscribers.
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Contacts sourced from the firm's website and LinkedIn, re-verified on a rolling cycle. Spot a stale contact, or none at all? Report it — we re-run that firm within 48h and get back to you.

FAQs about Indicator Ventures

Is Indicator Ventures a venture capital or private equity firm?

Indicator Ventures is a venture capital and private equity firm. It backs companies at Series A, Seed, Pre-seed and Series B, writing tickets of $1-5 m.

Where is Indicator Ventures located?

Indicator Ventures is located in Boston, Massachusetts, United States.

When was Indicator Ventures founded?

Indicator Ventures was founded in 2013.

What sectors and industries does Indicator Ventures invest in?

Indicator Ventures invests in companies and startups in E-commerce/Marketplace, Financial Services, Fintech, Healthcare Services, Marketing and Advertising, Media and Entertainment, SaaS, Software, AI, HealthTech, Consumer Products, Consumer Services (B2C).

What is Indicator Ventures geographical focus of investments?

Indicator Ventures invests in companies and startups in North America.

At what stages of companies and startups does Indicator Ventures typically invest in?

Indicator Ventures invests in companies and startups at Series A, Seed, Pre-seed, Series B.

What is the usual amount of Indicator Ventures investment?

Indicator Ventures usually invests $1-5 m on average.

What is the amount of assets of under management (AUM) for Indicator Ventures?

Indicator Ventures has around $200m assets under management.

When was Indicator Ventures last fund created?

Indicator Ventures last fund was created/launched in 2025-01-20

What are the contacts of Indicator Ventures?

Indicator Ventures can be reached through its website indicatorventures.com, its LinkedIn page and its X account. Its general enquiries address is [email protected]. Cold-mailing a general inbox rarely reaches a partner, so Private Equity List also lists the investment-team contacts for Indicator Ventures — names, roles, verified work emails and LinkedIn profiles — available on a Pro plan from $129/month (see pricing). Contacts are sourced from the firm's website and LinkedIn and re-verified on a rolling cycle. Spot a stale contact, or none at all? Report it — we re-run that firm within 48h and get back to you.

Can I access Indicator Ventures data via API or MCP?

Yes. Every field on this page — profile, funds, investment criteria, portfolio and investment-team contacts — is available programmatically through the Private Equity List REST API and MCP server, so AI assistants such as Claude and ChatGPT can query Indicator Ventures directly instead of scraping this page. One subscription covers both the web app and machine access — see API & MCP.

When was the Indicator Ventures profile last updated?

Private Equity List re-verifies investor profiles on a rolling cycle, pulling from the firm's own website and LinkedIn rather than a one-off import. This profile was last updated on 21 August, 2026. Something out of date here? Report it — we re-run that firm within 48h and get back to you.