Drive Capital raises $650M in 2 new VC funds for $1.2B under management

Drive Capital LLC has closed two new funds totaling $650 million, one targeting early startups and the other to spur growth in more mature companies throughout the Midwest.

In the past year the Columbus venture capital firm doubled to $1.2 billion under management, by far the largest of any tech-focused investment firm in the state.

Drive closed on its $350 million Fund III in November, and the $301 million Overdrive Fund as of Monday. A regulatory filing showed a top goal of $400 million for Overdrive, but a spokesman said the fund is closed and no longer raising money.

Click here to read the complete article.

Story excerpt provided by Columbus Business First.

Written by Carrie Ghose.

Originally published January 13, 2020.