Ohio’s Drive Capital Closes $350M For Fund III & Updates Numbers On Its First Opportunity Fund

On Monday, Drive Capital filed paperwork with the SEC indicating it had successfully closed $350 million for its third flagship venture capital fund.

Since Drive Capital made its initial filings for the Overdrive Fund back in April, the firm had raised an additional $33.5 million for that particular investment vehicle.

Alone, each of Drive Capital’s new funds are among the largest capital pools drawn in the previous year by Midwestern venture capital firms so far in 2019, according to Crunchbase data.

At the end of last month, Chicago-based ARCH Venture Partners closed more than $635 million for its tenth flagship fund, which was oversubscribed from the initial $600 million target Crunchbase News broke in October 2018.

Winslow Capital, a growth-stage firm based in Minneapolis, is targeting $400 million of its second fund, according to paperwork filed last month.

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