TLDR:
- Hyde Park Venture Partners closed a $98 million fund IV.
- The fund invests in early-stage startups primarily in the Midwest and Toronto.
Hyde Park Venture Partners, a Chicago-based early-stage venture capital fund, announced the closing of their $98 million Fund IV. The fund, founded in 2012, focuses on investing in early-stage startups with founders mainly in the Midwest and Toronto. Repeat backers, such as the Illinois Growth and Innovation Fund and new partner institutions like NVNG and Cintrifuse Capital, are supporting this fund. With investments in companies like ShipBob, FourKites, and G2, HPVP has visibility into over 90% of mid-continent startups. The closing of Fund IV brings HPVP’s total assets under management to around $320 million, including previous funds like the $25 million 2012 Fund I and the $100 million 2019 Fund III.
Over the years, HPVP has added talent to its team, including Jim Conti as Talent Partner, and promoted investors like Victoria Leon and Carlos Covarrubias to Vice President. Fund IV has already invested in two companies: Diffit, a company leveraging generative AI, and CivCheck, a company partnering with cities and architects to expedite the building permitting process. Notable exits from HPVP portfolio companies include VNDLY, Tock, Pear Deck, and FairX with acquisitions by major companies like Workday, Squarespace, and Coinbase.
Key quotes from Illinois State Treasurer Michael Frerichs and ShipBob CEO Dhruv Saxena praise HPVP’s support and partnership. HPVP continues to support skilled founders in the Midwest and Toronto, focusing on backing top founders with capital and connections for growth. Fund IV aims to continue this mission of supporting the next generation of exceptional founders and companies in the region.
