- Early-stage venture capital firm Hyde Park Venture Partners announced it closed a third venture fund totaling $100 million
Early-stage venture capital firm Hyde Park Venture Partners (HPVP) announced it has closed its third venture fund totaling $100 million. HPVP’s third fund has exceeded its target of $75 million and hit its hard cap of $100 million. With the closing of Fund III, it brings HPVP’s total assets under management to $190 million.
The firm is backed by top institutional investors, including Richard King Mellon Foundation, Renaissance Venture Capital, and the Illinois Growth and Innovation Fund, and repeat investors.
“The mid-continent continues to prove itself as a top technology hub with recent mega-rounds, big exits, and new emerging funds,” said Hyde Park Venture Partners managing director Guy Turner. “In 2012, we set out to fuel high-growth startups and entrepreneurs, not only with capital but also by introducing top talent and guiding companies toward high-quality follow-on capital. Fund III proves our approach is working. We see so much opportunity in the mid-continent and with the support of our limited partners, we are charging forward.”
HPVP has visibility into more than 90% of mid-continent-based opportunities. And the company has a track record of investing in and partnering with the mid-continent’s leading technology companies. The firm’s debut fund was $25 million and the company invested in G2 (formerly known as G2 Crowd) along with FourKites.
And the company’s second fund was $65 million. With that fund, the firm invested in companies like ShipBob, Terminus, and VNDLY.
“Hyde Park Venture Partners is a go-to early-stage fund in the Midwest, investing in the best companies and entrepreneurs,” added Renaissance Venture Capital Fund principal Jeff Rinvelt. “Combined with the thriving mid-continent tech ecosystem, we firmly believe in HPVP and are thrilled to be partnering with the entire team.”
HPVP’s portfolio companies have raised over $730 million in follow-on financing rounds from top investors such as Accel, Bain Capital Ventures, Emergence Capital, IVP, Menlo Ventures, etc.
“From day one, Hyde Park Venture Partners has been an amazing advocate,” explained G2 co-founder and CEO Godard Abel. “The value their entire team adds in terms of expertise, connections, and ongoing support goes far beyond capital.”
Along with announcing its third fund, Hyde Park Ventures Partner recently promoted Greg Barnes to partner and Jacquelyn (Jackie) DiMonte to Vice President. And the company also grew its team with the additions of Allison Weil as Senior Associate and Alisa Vass as Chief Administrative Officer.
