Drive Capital

Drive Capital is a venture capital firm. The company has invested in Midwest companies, including Civis Analytics,[1] Clinc, CrossChx,[2] Duolingo,[3] FarmLogs, Muve Health, Roadtrippers, Root Insurance Company, Udacity,[4] and Vecna Robotics.[5] The organization's programs focus on establishing entrepreneurial ecosystems with a goal to support new businesses and solidify a base of operation in the midwestern United States, rather than refocusing financial investment opportunities outside of the region.[6]

Drive Capital
Private
IndustryVenture capital
Founded2013
FounderMark Kvamme, Chris Olsen
Headquarters
Columbus, OH
,
USA
ProductsVenture capital
Websitedrivecapital.com

In February 2014, the firm established its first $250 million venture capital fund, Drive Capital Fund I. In September 2016, the firm began investing from its second $300 million fund. [7]In November 2019, the firm closed on Drive Capital Fund III, a $350 million fund.[8] In January 2020, the firm established its first $301 million expansion stage fund, Overdrive Fund I. The four funds bring the firms assets under management to $1.2 billion.[9]

Headquartered in Columbus, Ohio, the organization was founded in 2013 by Mark Kvamme and Chris Olsen, both formerly of Sequoia Capital.[10]

References
  1. "Overview Civis Analytics". crunchbase. Retrieved 2019-04-09.
  2. "Drive Capital | CrunchBase Profile". Crunchbase.com. 2014-01-15. Retrieved 2014-02-15.
  3. "Duolingo - How do you say...?". CNBC. 2018-05-22. Retrieved 2019-04-09.
  4. "Drive Capital leads $35M investment in online training provider". www.bizjournals.com. Retrieved 2019-04-10.
  5. "Vecna Robotics Looks To The Future With New Investment, New Leadership And New Direction". markets.businessinsider.com. Retrieved 2019-04-10.
  6. "Drive Capital founders Mark Kvamme and Chris Olsen sees ingredients for VC success in Midwest". Upstart.bizjournals.com. 2013-10-19. Retrieved 2014-02-15.
  7. McBride, Sarah. "Ex-Sequoia partners raise $250 mln for Silicon Valley-style startups in Midwest". Reuters. Retrieved 2014-02-15.
  8. Rowley, Jason D. (2019-11-05). "Ohio's Drive Capital Closes $350M For Fund III & Updates Numbers On Its First Opportunity Fund". Crunchbase News. Retrieved 2020-08-05.
  9. "MN Startups Raised $1.2B in Funding Last Year | Drive Capital Closes 2 New Funds | AmericanInno". www.americaninno.com. Retrieved 2020-08-05.
  10. "Drive Capital, LLC: Private Company Information - Businessweek". Investing.businessweek.com. Retrieved 2014-02-15.
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