Drive Capital
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Company type | Private |
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| Headquarters | , US |
Area served | United States and Canada |
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| Website | drivecapital |
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Drive Capital is a venture capital firm headquartered in Columbus, Ohio.
History
Drive Capital was founded in 2013 by Mark Kvamme and Chris Olsen, both formerly of Sequoia Capital.[2] The firm primarily invests in tech startups outside Silicon Valley.[3] Drive Capital has invested in various companies based in the United States and Canada.
The firm's investments include Root Insurance Company,[4] Duolingo,[5] Olive,[6] Greenlight, 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 the region.[11][12]
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.[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]
References
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- ^ Page Module:Citation/CS1/styles.css has no content."Two ex-Sequioa VCs". TechCrunch. January 12, 2021.
- ^ Page Module:Citation/CS1/styles.css has no content."Drive Capital, LLC: Private Company Information – Businessweek". Investing.businessweek.com. Retrieved February 15, 2014.
{{cite web}}: CS1 maint: deprecated archival service (link) - ^ Page Module:Citation/CS1/styles.css has no content."Two ex-Sequoia VCs: The most 'compelling emerging market' may be America, outside of Silicon Valley". TechCrunch. January 12, 2021. Retrieved February 4, 2021.
- ^ Page Module:Citation/CS1/styles.css has no content.Chernova, Yuliya (October 28, 2020). "Root's IPO Is a Windfall for Drive Capital, Ribbit, Other VCs". Wall Street Journal. Retrieved November 17, 2021.
- ^ Page Module:Citation/CS1/styles.css has no content."Duolingo – How do you say...?". CNBC. May 22, 2018. Retrieved April 9, 2019.
- ^ Page Module:Citation/CS1/styles.css has no content."Columbus companies in the Drive Capital portfolio have raised $782 million so far this year". Columbus Business First. Retrieved November 17, 2021.
- ^ Page Module:Citation/CS1/styles.css has no content."Ex-Obama techie's startup raises $31 million". Crain's Chicago Business. September 27, 2021.
- ^ Page Module:Citation/CS1/styles.css has no content."Drive Capital leads $35M investment in online training provider". www.bizjournals.com. Retrieved April 10, 2019.
- ^ Page Module:Citation/CS1/styles.css has no content."Path Robotics raises $56M for 'aggressive' expansion of AI-powered welding". Columbus Business First.
- ^ Page Module:Citation/CS1/styles.css has no content."Vecna Robotics Looks To The Future With New Investment, New Leadership And New Direction". markets.businessinsider.com. Retrieved April 10, 2019.
- ^ Page Module:Citation/CS1/styles.css has no content."Drive Capital founders Mark Kvamme and Chris Olsen sees ingredients for VC success in Midwest". Upstart.bizjournals.com. October 19, 2013. Retrieved February 15, 2014.
- ^ Page Module:Citation/CS1/styles.css has no content."Mortgage". Retrieved April 14, 2021.
- ^ Page Module:Citation/CS1/styles.css has no content.McBride, Sarah (February 4, 2014). "Ex-Sequoia partners raise $250 mln for Silicon Valley-style startups in Midwest". Reuters. Retrieved February 15, 2014.
- ^ Page Module:Citation/CS1/styles.css has no content."MN Startups Raised $1.2B in Funding Last Year | Drive Capital Closes 2 New Funds | AmericanInno". www.americaninno.com. Retrieved August 5, 2020.
