CHICAGO (Wed. Dec. 11, 2019) — Hyde Park Venture Partners (HPVP), an early-stage venture capital firm focused on high-growth, mid-continent technology startups, announced today the close of its third venture fund totaling $100 million. Backed by top institutional investors including Richard King Mellon Foundation, Renaissance Venture Capital, and the Illinois Growth and Innovation Fund, among repeat investors, HPVP’s third fund exceeded its target of $75M and hit its hard cap of $100M.
“Hyde Park Venture Partners is a go-to early-stage fund in the Midwest, investing in the best companies and entrepreneurs, said Jeffrey Rinvelt, Principal, Renaissance Venture Capital Fund. “Combined with the thriving mid-continent tech ecosystem, we firmly believe in HPVP and are thrilled to be partnering with the entire team.”
With visibility into more than 90% of mid-continent-based opportunities, HPVP has a track record of investing in and partnering with the mid-continent’s leading technology companies. With its debut fund of $25 million, HPVP invested in G2 (formerly G2 Crowd), and FourKites among other standouts. With its second fund of $65 million, the firm invested in companies including ShipBob, Terminus, and VNDLY.
HPVP’s portfolio companies have raised more than $730 million in follow-on financing rounds from top investors including Accel, Bain Capital Ventures, Emergence Capital, IVP, Menlo Ventures and more.
“From day one, Hyde Park Venture Partners has been an amazing advocate,” said Godard Abel, CEO, and Founder of G2, the leading B2B software review platform and HPVP portfolio company. “The value their entire team adds in terms of expertise, connections, and ongoing support goes far beyond capital.”
“The mid-continent continues to prove itself as a top technology hub with recent mega-rounds, big exits, and new emerging funds,” said Guy Turner HPVP Partner. “In 2012, we set out to fuel high-growth startups and entrepreneurs, not only with capital but also by introducing top talent and guiding companies toward high-quality follow-on capital. Fund III proves our approach is working. We see so much opportunity in the mid-continent and with the support of our limited partners, we are charging forward.”
In addition to the close of its third fund, HPVP recently promoted Greg Barnes to Partner, Jackie DiMonte to Vice President, and grew its team with the additions of Allison Weil as Senior Associate and Alisa Vass as Chief Administrative Officer.
The close of Fund III brings HPVP’s total assets under management to $190M, growing from $25M in Fund I to $65M in Fund II. This builds on recent momentum across the firm’s portfolio including G2’s $55M Series C, FourKites $50M Series C, and ShipBob’s $40M raise.
To learn more about Hyde Park Venture Partners and its portfolio visit hydeparkvp.com. Or, read more about HPVP’s third fund here.
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