Drive Capital raises $250 million to invest in Midwest startups
Great news for Midwest-based companies! Drive Capital has finished raising an inaugural $250 million fund. Drive was founded by former Sequoia Capital partners Mark Kvamme and Chris Olsen. Drive Capital has already invested in several companies that focus on technology and healthcare. Drive Capital has put money into Roadtrippers, CrossCHX, Channel IQ, and FarmLogs.
“I started to see all this opportunity in the Midwest and in Ohio and got really excited about the companies,” stated Kvamme in an interview with The New York Times. “What was clear to me was they were really lacking Silicon Valley-style venture capital.”This article was written by Amit Chowdhry. You can follow me at @amitchowdhry or on Google+ at +AmitChowdhry