Despite the global health crisis, Hyde Park Venture Partners, a venture capital firm based in Chicago has successfully accumulated $98 million in a recent funding round. The funds were raised from diverse sources, including institutional entities, wealthy individuals, and family wealth management firms, indicating the investor community’s strong faith in the firm’s potential and abilities.
Hyde Park Venture Partners will use this funding to enhance its investments in the Midwest and Southeastern United States. The firm is known for its focus on B2B and consumer software companies. Its proven track record of a robust investment portfolio, even in varying economic situations, makes it a preferred choice among investors.
Greg Barnes, Guy Turner, and Allison Lechnir are the key people on the firm’s management team. They primarily concentrate on bolstering startups in the Midwest and Toronto and plan to use the fresh funds to facilitate growth in these areas.
The firm has already started using its new fund to support companies like Diffit and CivCheck.
Hyde Park secures $98m for regional growth
Hyde Park Venture Partners actively pursues opportunities to diversify its investment portfolio. Their investments reflect a strong focus on innovative tech firms.
The Midwest region is known for its vibrant startup ecosystem, credited to academic support, ample federal research grants, and the digitization revolution. Lower startup valuations and a lower cost of living have proved to be attractive features for seed-stage investors, and for startups to sustain growth and reduce costs.
On the backdrop of the COVID-19 pandemic, the Midwest’s resilience has increased its appeal, with an increased movement of people back to the region. A localized surge of entrepreneurial activities has led to a revitalization of local economies, and traditional industries have been reinvigorated. With an increasing number of startups, the Midwest is being recognized by investors as a promising hub for growth and investment opportunities.
Therefore, the Midwest continues to hold a promising upward trajectory in fostering innovation, technology and economic development. This turnaround affirms the Midwest’s adaptability and resilience in the face of adversity.
