Misplaced Pages

This article has multiple issues. Please help improve it or discuss these issues on the talk page. (Learn how and when to remove these messages) This article contains promotional content. Please help improve it by removing promotional language and inappropriate external links, and by adding encyclopedic text written from a neutral point of view. (July 2021) (Learn how and when to remove this message) This article may rely excessively on sources too closely associated with the subject, potentially preventing the article from being verifiable and neutral. Please help improve it by replacing them with more appropriate citations to reliable, independent, third-party sources. (February 2014) (Learn how and when to remove this message) (Learn how and when to remove this message)

Drive Capital is a venture capital firm headquartered in Columbus, Ohio.

History

Drive Capital was founded in 2013 by Mark Kvamme and Chris Olsen, both formerly of Sequoia Capital. The firm primarily invests in tech startups outside Silicon Valley. Drive Capital has invested in various companies based in the United States and Canada.

The firm's investments include Root Insurance Company, Duolingo, Olive, Greenlight, Civis Analytics, Udacity, Path Robotics, and Vecna Robotics. The organization's programs focus on establishing entrepreneurial ecosystems with a goal to support new businesses and solidify a base of operation in the midwestern United States, rather than refocusing financial investment opportunities outside the region.

In February 2014, the firm established its first $250 million venture capital fund, Drive Capital Fund I. In September 2016, the firm began investing from its second $300 million fund. In January 2020, the firm established its first $301 million expansion stage fund, Overdrive Fund I. The four funds bring the firms assets under management to $1.2 billion.

References

1. "Two ex-Sequioa VCs". TechCrunch. January 12, 2021.
2. "Drive Capital, LLC: Private Company Information – Businessweek". Investing.businessweek.com. Archived from the original on February 14, 2014. Retrieved February 15, 2014.
3. "Two ex-Sequoia VCs: The most 'compelling emerging market' may be America, outside of Silicon Valley". TechCrunch. January 12, 2021. Retrieved February 4, 2021.
4. Chernova, Yuliya (October 28, 2020). "Root's IPO Is a Windfall for Drive Capital, Ribbit, Other VCs". Wall Street Journal. Retrieved November 17, 2021.
5. "Duolingo – How do you say...?". CNBC. May 22, 2018. Retrieved April 9, 2019.
6. "Columbus companies in the Drive Capital portfolio have raised $782 million so far this year". Columbus Business First. Retrieved November 17, 2021.
7. "Ex-Obama techie's startup raises $31 million". Crain's Chicago Business. September 27, 2021.
8. "Drive Capital leads $35M investment in online training provider". www.bizjournals.com. Retrieved April 10, 2019.
9. "Path Robotics raises $56M for 'aggressive' expansion of AI-powered welding". Columbus Business First.
10. "Vecna Robotics Looks To The Future With New Investment, New Leadership And New Direction". markets.businessinsider.com. Retrieved April 10, 2019.
11. "Drive Capital founders Mark Kvamme and Chris Olsen sees ingredients for VC success in Midwest". Upstart.bizjournals.com. October 19, 2013. Retrieved February 15, 2014.
12. McBride, Sarah (February 4, 2014). "Ex-Sequoia partners raise $250 mln for Silicon Valley-style startups in Midwest". Reuters. Retrieved February 15, 2014.
13. "MN Startups Raised $1.2B in Funding Last Year | Drive Capital Closes 2 New Funds | AmericanInno". www.americaninno.com. Retrieved August 5, 2020.

External links

• Official website

• Financial services companies established in 2013
• Venture capital firms of the United States
• Companies based in Ohio