Drive Capital

Drive Capital is a prominent venture capital firm headquartered in Columbus, Ohio, established with a unique vision to invest in and cultivate high-growth technology companies in overlooked regions across the United States, particularly the Midwest. Founded by former Sequoia Capital partners Chris Olsen and Mark Kvamme, the firm aims to bridge the funding gap for innovative startups located outside traditional coastal tech hubs. Drive Capital's strategy revolves around identifying promising entrepreneurs and providing significant capital and strategic guidance to help them build enduring, category-defining businesses.

The firm's investment thesis centers on the belief that talent and innovation are geographically dispersed, not concentrated solely in Silicon Valley or New York. Drive Capital typically leads Series A and Series B funding rounds, committing substantial initial checks to its portfolio companies. Their investment scope is broad, encompassing sectors such as enterprise software, healthcare technology, fintech, consumer internet, and advanced manufacturing. Drive Capital is known for its hands-on approach, leveraging its partners' deep operational and investment experience to support portfolio companies through various stages of growth, from product development to market expansion and talent acquisition.

Drive Capital has consistently raised substantial funds, demonstrating strong investor confidence in its regional focus. For instance, the firm closed its fourth fund in 2022 with $650 million, followed by another $650 million for its fifth fund in 2024, bringing their total capital raised to over $2 billion across five core funds. These significant capital pools enable Drive Capital to write initial checks ranging from $5 million to $25 million, providing crucial early-stage funding to ambitious startups. Their commitment to fostering a vibrant tech ecosystem in the Midwest has positioned them as a leading venture capital player in the region, contributing significantly to the growth of numerous successful companies and challenging the conventional wisdom of venture capital deployment.