Drive Capital

Drive Capital is a venture capital firm. The firm was founded to invest in tech startups outside of Silicon Valley.[1]

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

Drive Capital has invested in more than 40 companies across the United States and Canada[2]. The firm's investments include Root Insurance Company,[3] Duolingo,[4] Olive,[5] Greenlight,[6] Civis Analytics,[7] Udacity,[8] Path Robotics,[9] and Vecna Robotics.[10] 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.[11]

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. [12]In November 2019, the firm closed on Drive Capital Fund III, a $350 million fund.[13] 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.[14]

Headquartered in Columbus, Ohio, the organization was founded in 2013 by Mark Kvamme and Chris Olsen, both formerly of Sequoia Capital.[15]

References
  1. "Two ex-Sequoia VCs: The most 'compelling emerging market' may be America, outside of Silicon Valley". TechCrunch. Retrieved 2021-02-04.
  2. "Drive Capital - Press". Drive Capital - Press. Retrieved 2021-02-04.
  3. www.drivecapital.com https://www.drivecapital.com/portfolio/root-inc. Retrieved 2021-02-04. Missing or empty |title= (help)
  4. "Duolingo - How do you say...?". CNBC. 2018-05-22. Retrieved 2019-04-09.
  5. www.drivecapital.com https://www.drivecapital.com/portfolio/olive. Retrieved 2021-02-04. Missing or empty |title= (help)
  6. Hall, Christine (2020-09-24). "Greenlight Now Valued At $1.2B Following $215M Series C". Crunchbase News. Retrieved 2021-02-04.
  7. "Overview Civis Analytics". crunchbase. Retrieved 2019-04-09.
  8. "Drive Capital leads $35M investment in online training provider". www.bizjournals.com. Retrieved 2019-04-10.
  9. "Series A - Path Robotics - 2018-12-19 - Crunchbase Funding Round Profile". Crunchbase. Retrieved 2021-02-04.
  10. "Vecna Robotics Looks To The Future With New Investment, New Leadership And New Direction". markets.businessinsider.com. Retrieved 2019-04-10.
  11. "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.
  12. McBride, Sarah. "Ex-Sequoia partners raise $250 mln for Silicon Valley-style startups in Midwest". Reuters. Retrieved 2014-02-15.
  13. 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.
  14. "MN Startups Raised $1.2B in Funding Last Year | Drive Capital Closes 2 New Funds | AmericanInno". www.americaninno.com. Retrieved 2020-08-05.
  15. "Drive Capital, LLC: Private Company Information - Businessweek". Investing.businessweek.com. Retrieved 2014-02-15.
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