Drive Capital raising nearly $1B to invest in startups in Midwest and the South


Drive Capital LLC is revving up two more funds that could total more than $1 billion, and widening its largely Midwestern hunting grounds for backable tech startups to the Plains and the South, according to public documents.

Columbus-based Drive last raised $650 million over two funds in January 2020, which doubled its assets under management to $1.2 billion – making it the largest actively investing firm in the Midwest. Columbus-area companies in its portfolio in turn raised nearly $1 billion in growth capital this year, mostly from out of state.

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Story excerpt provided by Columbus Inno.

Written by Carrie Ghose.

Originally published December 28, 2021.

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