
Eric Tobias
Partner
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- Full Name
- Eric Tobias
- Title
- Co-Founder & Operating Partner
- Firm
- High Alpha
- Firm Type
- Venture studio / early-stage venture capital (also operates as an angel/individual investor)
- Investment Stage
- Seed through Series A (participates as late as Series C)
- Check Size
- ~$100K–$5M; sweet spot around $1.5M
- Target Company Profile
- High-growth B2B software / enterprise SaaS companies, frequently co-created inside the High Alpha venture studio or backed at the earliest institutional round
- Sector Focus
- B2B SaaS, enterprise software
- Geographic Focus
- North America, with a strong Midwest emphasis
- Location
- Indianapolis, Indiana
Background
Eric Tobias is a Co-Founder and Operating Partner at High Alpha, the Indianapolis-based venture studio he launched in 2015 alongside Scott Dorsey (former ExactTarget CEO), Kristian Andersen, and Mike Fitzgerald. High Alpha pairs a company-building "studio" model with a venture fund to conceive, launch, and scale B2B software businesses. Before becoming an investor and studio operator, Tobias built a track record as a repeat entrepreneur — he is frequently described as a "3x founder with 3 exits."
His operating career began with Technuity and Batteries.com (roughly 1999–2007), a portable-power manufacturer and specialty-battery e-commerce business that were sold to Audiovox (NASDAQ: VOXX). He then founded iGoDigital (2008–2012), a personalization, guided-selling, and product-recommendation engine for digital marketers, which was acquired by Salesforce (then via the ExactTarget acquisition) in 2012. Following that exit, Tobias served as VP of Product for the Salesforce Marketing Cloud from 2012 to 2014, overseeing multiple products and the data-science organization before leaving to help start High Alpha.
Beyond High Alpha, Tobias co-founded The Speakeasy, an Indianapolis coworking/entrepreneur community, and started Forty5, an operating platform for live-music venues including The Vogue Theatre and Rock the Ruins. He is active in Indiana's civic and education community, serving on the board of the Mitch Daniels Leadership Foundation, the Dean's Council at Indiana University's School of Informatics and Computing, and the board of Cathedral High School. His recognitions include CIO Magazine's "Thirty Under 30," IBJ's "Forty Under 40," and Inc. Magazine's Inc. 500 for fastest-growing companies. He was named to IBJ Media's Indiana 250 list of most influential leaders four years running (through 2025).
Investment Thesis & Focus
- Invests almost exclusively in B2B software / enterprise SaaS, the category he built and led operationally at iGoDigital and Salesforce Marketing Cloud.
- Backs companies at the earliest stages — seed and Series A — many of which are co-created inside the High Alpha venture studio, where founders get capital plus operational scaffolding (design, GTM, recruiting, shared services).
- Typical checks run $100K to $5M, with a ~$1.5M sweet spot, and he'll follow on through later rounds (up to Series C).
- Strong Midwest / Indianapolis-anchored orientation, though the fund invests across North America.
- Values operator-founders and go-to-market rigor — his own background is product and GTM leadership, so a credible, capital-efficient path to enterprise revenue tends to resonate.
- Co-invests alongside top-tier firms (e.g., Bessemer's Byron Deeter, Foundry Group's Brad Feld, Union Square Ventures' Fred Wilson) as well as fellow High Alpha partners.
Notable Investments
- Zylo — SaaS management / spend-optimization platform; a flagship High Alpha studio company (~$72M raised).
- Cordial — cross-channel marketing and messaging platform (~$72M raised).
- Encamp — environmental compliance software (~$46M raised).
- Kevala — energy/grid data analytics platform (~$37M raised).
- Bolster — on-demand executive and board-talent marketplace (~$22M raised).
- Boardable — board-management software for nonprofits; seed round backed by High Alpha Capital.
- ChampionHQ, Flaunt, Backstroke, Opendate — more recent early-stage B2B SaaS investments (Backstroke seed round in July 2025).
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