Drive Capital

From Wikipedia, the free encyclopedia
Drive Capital
TypePrivate
IndustryVenture capital
Founded2013
FounderMark Kvamme, Chris Olsen
Headquarters
Columbus, OH
,
USA
ProductsVenture capital
Websitedrivecapital.com

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

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, Civis Analytics,[citation needed] Udacity,[6] Path Robotics,[citation needed] and Vecna Robotics.[7] 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.[8]

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. [9] 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.[10]

Headquartered in Columbus, Ohio, the organization was founded in 2013 by Mark Kvamme and Chris Olsen, both formerly of Sequoia Capital.[11]

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. ^ "ROOT INC". www.drivecapital.com. Retrieved 2021-02-04.
  4. ^ "Duolingo - How do you say...?". CNBC. 2018-05-22. Retrieved 2019-04-09.
  5. ^ "OLIVE". www.drivecapital.com. Retrieved 2021-02-04.
  6. ^ "Drive Capital leads $35M investment in online training provider". www.bizjournals.com. Retrieved 2019-04-10.
  7. ^ "Vecna Robotics Looks To The Future With New Investment, New Leadership And New Direction". markets.businessinsider.com. Retrieved 2019-04-10.
  8. ^ "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.
  9. ^ McBride, Sarah. "Ex-Sequoia partners raise $250 mln for Silicon Valley-style startups in Midwest". Reuters. Retrieved 2014-02-15.
  10. ^ "MN Startups Raised $1.2B in Funding Last Year | Drive Capital Closes 2 New Funds | AmericanInno". www.americaninno.com. Retrieved 2020-08-05.
  11. ^ "Drive Capital, LLC: Private Company Information - Businessweek". Investing.businessweek.com. Retrieved 2014-02-15.

External links[]

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