Welcome to Elpis Capital

Smart Capital Delivered with the Highest Level of Care

Who We Are

In Greek Mythology, Elpis is defined as, “the spirit of hope.” Whether it’s providing a unique investment experience for our Limited Partners or providing much-needed capital to an entrepreneur, our goal is to always be a promise of hope to those we encounter. We are based in Indianapolis and provide opportunistic capital to lower/middle market companies based primarily in the Midwest. Elpis Opportunity Fund is open-ended, and therefore our investments are not bound to the calendar.

Core Values

At Elpis, we have four Core Values we live by. Not only do these values apply to those who work here, but also to the companies in which we invest.

People First

Our team prioritizes people and relationships before profit.


We do what we say, and are committed to doing what’s right every time.


We’re not afraid to roll up our sleeves or put in long hours to help those in need.


In a world that’s constantly changing, we’re always looking for ways to improve.

What We Do

Our investment strategy is based on the philosophy founded by Benjamin Graham and used by Warren Buffett. When considering a new investment, there are four key components we look for initially:

  • We want “A” level management teams and prefer that they have a proven track record. Essentially, we invest in people.
  • We want our portfolio companies to be cash flow positive or have a clear path to get there.
  • We believe in accretive share repurchases, both with our portfolio companies and our Fund.
  • We are disciplined regarding how much we will pay for an investment. We will only participate at a price that is fair for both our investors and the company in which we are investing.

We will hold the investment as long as it makes sense to do so, and as long as the rate of return supports that decision. We leverage our network, including our Limited Partners, who are broadly experienced and successful in their respective fields, to help enhance enterprise value over a time horizon well beyond that of a traditional private equity fund. Our preferred investment size is $2,000,000 – $5,000,000, but we are open to smaller initial investments if there is potential for an add-on.

Our Team

Scott Wolfrum

Founder / CEO

Sam Strausbaugh


Carrie Bastian

Chief Administrative Officer

Jake Oberlin

Special Projects

Ben Jones

EVP – Finance

Tony LeCount

VP – Business Development