Story excerpt provided by Columbus Business First.
Written by Carrie Ghose.
Rev1 Ventures is launching a $22 million fund to invest in early-stage and growing startups with the first significant participation from Central Ohio corporations.
“It’s really broadened the base of support for startups in our region and gotten the corporate base involved,” Rev1 CEO Tom Walker said. “We’re very much doing something here that hasn’t been done at this scale.”
The fund was seeded with an $8 million Ohio Third Frontier loan, and the nonprofit investment and advising group for technology startups raised $14 in matching investments, including investing Rev1’s own returns from previous funds. Members of the Rev1 management team also personally invested.
Originally published August 30, 2016.