Drive Capital

Drive Capital is a venture capital firm. The firm was founded to invest in tech startups outside of Silicon Valley.[1]

Drive Capital has invested in more than 40 companies across the United States and Canada[2]. The firm's investments include Root Insurance Company,[3] Duolingo,[4] Olive,[5] Greenlight,[6] Civis Analytics,[7] Udacity,[8] Path Robotics,[9] and Vecna Robotics.[10] The organization's programs focus on establishing entrepreneurial ecosystems with a goal to support new businesses and solidify a base of operation in the midwestern United States, rather than refocusing financial investment opportunities outside of the region.[11]

In February 2014, the firm established its first $250 million venture capital fund, Drive Capital Fund I. In September 2016, the firm began investing from its second $300 million fund. [12]In November 2019, the firm closed on Drive Capital Fund III, a $350 million fund.[13] In January 2020, the firm established its first $301 million expansion stage fund, Overdrive Fund I. The four funds bring the firms assets under management to $1.2 billion.[14]

Headquartered in Columbus, Ohio, the organization was founded in 2013 by Mark Kvamme and Chris Olsen, both formerly of Sequoia Capital.[15]