A Chicago-based venture capital firm with an Indianapolis office has announced a new $65 million fund aimed at burgeoning Midwest businesses. Hyde Park Venture Partners says seven of its portfolio companies have received follow-up investments totaling more than $160 million over the last year.
The firm was founded in 2011 and generally pumps between $1 million and $2 million into Series A rounds of investment, while writing "smaller checks for seed stage companies." Its primary targets are business-to-business startups. In its LinkedIn profile, it boasts "one of the most robust seed programs in the U.S."
The Indy office was announced in March of last year and former ExactTarget Chief Marketing Officer Tim Kopp was selected to lead it. He is the firm’s third partner. Others with Kopp on the investment team are Ira Weiss, Greg Barnes, Jackie DiMonte and Guy Turner.
Weiss says "we feel quite fortunate to be in this position, because it is somewhat unprecedented for a venture capital firm to triple its assets under management in just a few short years. We are inspired by the trust that our investors have displayed in us. Together, we are excited to continue building on our shared vision of supporting the best and brightest founders in the Midwest."
The HPVP portfolio includes Chicago-based Geofeedia, which has an Indianapolis office and received a $17 million boost in February from a Boston company that followed HPVP’s $3 million investment in the company last year. Its partners also include Base CRM, G2 Crowd, FourKites, FarmLogs and Zipnosis.
HPVP says success from its inaugural $25 million shows the "surging momentum and acceleration" of the Midwest tech scene.
You can connect to more on the new fund by clicking here.
Editor’s Note: A previous version of the report mistakenly listed Indianapolis-based HC1.com as a investment partner with HPVP.