Drive Capital doubles in size, surpasses $1B under management

Drive-Capital

Drive Capital LLC has raised a combined $558 million so far in two new venture funds, regulatory filings show, doubling in size to more than $1.1 billion under management.

And it’s still raising.

The Columbus venture capital firm is launching its first new investment funds in three years. Drive started raising its first $250 million fund in 2013, and re-loaded with $300 million in 2016. The typical life cycle to invest a fund in portfolio startups is three to four years; returns can take a decade to appear.

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