The Midwest region has long been a hub for innovation and entrepreneurship, with a thriving ecosystem of startups and established companies. To support this growth, a new investment fund is being launched, targeting early-stage startups from Pittsburgh to Chicago, and everywhere in between. The Midwest Fund is led by familiar names in the local scene, bringing together successful entrepreneurs looking to reinvest in their regions.
The Birth of the Midwest Fund
The Midwest Fund was born from The Fund, an NYC-based venture capital group founded in 2018 by Jenny Fielding, Scott Hartley, Katie Hunt, Adam Carver, and Matthew Brimer. Since its inception, The Fund has expanded with micro-funds in Los Angeles, London, and the Boulder/Denver region. With each expansion, local founders and investors have been tapped to lead each region.
Meet the Founding General Partners
The Midwest Fund’s founding general partners are a diverse group of experienced entrepreneurs, including:
- Ted Serbinski: Partner at Detroit Venture Partners and Co-Founder of Next Energy
- Tops Kataria: Founder and CEO of Detroit-based startup, Paddle8
- Chris Bergman: Founder and CEO of Cincinnati-based startup, Rook
- Lynsie Campbell: Founder and CEO of Pittsburgh-based startup, PITT
- Jennifer Fried: Partner at Chicago-based venture capital firm, GSV Ventures
This team brings a wealth of knowledge and experience to the table, having successfully launched and grown their own startups in the region.
A New Approach to Venture Capital
The Midwest Fund is unique in its approach to venture capital. Unlike traditional VC funds, which often prioritize return on investment over local impact, The Midwest Fund aims to make a meaningful difference in the communities it serves. By investing in early-stage startups, The Fund hopes to catalyze growth and job creation in the region.
The Importance of Diverse Investment Committees
One of the key differentiators of The Fund is its commitment to diverse investment committees. With an equal representation of men and women on each committee, The Fund aims to bring a more balanced perspective to the investment process. This approach has already borne fruit, with over 40% of investments made by The Fund going to female founders.
The Midwest Region: A Hotbed for Innovation
The Midwest region is home to a thriving ecosystem of startups and established companies. From Pittsburgh’s steel industry roots to Chicago’s rich history of innovation, the region has long been a hub for entrepreneurship. Today, this trend continues, with new startups popping up every day.
The Role of The Fund in Catalyzing Growth
As part of its mission to support growth in the region, The Midwest Fund plans to invest in two companies per month for two years. This aggressive investment strategy is designed to make a meaningful impact on the local economy.
Meet the Limited Partners
The Midwest Fund’s limited partners come from the local areas in which the fund operates, including:
- Amanda Lannert: CEO of Jellyvision
- Patrick Colletti: Founder of Net Health
- Charlie Key: Founder of Losant
These individuals bring a wealth of knowledge and experience to the table, having successfully launched and grown their own startups in the region.
The Future of Venture Capital
As The Midwest Fund continues to grow and expand its reach, it’s clear that this new approach to venture capital is poised to make a significant impact on the local economy. With its focus on diversity, inclusion, and community impact, The Fund is setting a new standard for VC funds.
Conclusion
The Midwest Fund is an exciting development in the world of venture capital. By bringing together successful entrepreneurs and investors from the region, this fund aims to make a meaningful difference in the local economy. With its focus on diversity, inclusion, and community impact, The Fund is setting a new standard for VC funds.
Related Posts
- The Future of Venture Capital: Trends and Predictions
- Diversity and Inclusion in Venture Capital: Why It Matters
- Community Impact: How Venture Capital Can Drive Growth and Job Creation
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