‘Hillbilly Elegy’ author J.D. Vance has raised $93 million for his own Midwestern venture fund

Underserved areas are becoming hot, hot, hot, from the standpoint of venture capitalists and their own backers.

In October, Steve Case’s Revolution announced that a second Rise of the Rest Seed Fund had closed with $150 million in commitments. In November, Drive Capital, a Columbus, Ohio-based venture firm that was started by two former Sequoia Capital partners and focuses on largely Midwestern startups, revealed in SEC filings that it had raised a fresh $350 million in capital commitments across two funds. Meanwhile, last month, Hyde Park Venture Partners, a Chicago-based early-stage venture firm that’s focused on the “mid-continent,” announced on Medium that it had closed its third fund with $100 million.

Click here to read the complete article. See related article in Columbus Business First.

Story excerpt provided by TechCrunch.

Written by Connie Loizos.

Originally published January 9, 2020.