TLDR:
- Hyde Park Venture Partners raises $98 million in recent funding round.
- The firm plans to use the funds to enhance its investments in the Midwest and Southeastern United States, focusing on B2B and consumer software companies.
Despite the challenges posed by the global health crisis, Hyde Park Venture Partners, a Chicago-based venture capital firm, has successfully raised $98 million in funding. The funds were sourced from various institutional entities, wealthy individuals, and family wealth management firms, showcasing the strong belief the investor community has in the firm’s potential.
The firm, led by key individuals Greg Barnes, Guy Turner, and Allison Lechnir, has a history of successful investments in B2B and consumer software companies, even in varying economic conditions. They plan to use the fresh funding to bolster startups in the Midwest and Toronto, with a focus on companies like Diffit and CivCheck.
Hyde Park Venture Partners is actively looking to diversify its investment portfolio and has a strong focus on innovative tech firms. The Midwest region, known for its vibrant startup ecosystem and lower startup valuations, has become an attractive hub for seed-stage investors. The region’s resilience during the COVID-19 pandemic has further increased its appeal, leading to a surge in entrepreneurial activities and a revitalization of local economies.
With an increasing number of startups and a promising upward trajectory in fostering innovation and economic development, the Midwest is gaining recognition as a promising hub for growth and investment opportunities. This turnaround underscores the region’s adaptability and resilience amidst challenges.
