Drive Capital is a

venture capital firm Venture capital (VC) is a form of private equity financing provided by firms or funds to startup, early-stage, and emerging companies, that have been deemed to have high growth potential or that have demonstrated high growth in terms of number ...

headquartered in

Columbus, Ohio Columbus (, ) is the List of capitals in the United States, capital and List of cities in Ohio, most populous city of the U.S. state of Ohio. With a 2020 United States census, 2020 census population of 905,748, it is the List of United States ...

History

Drive Capital was founded in 2013 by

Mark Kvamme Mark David Kvamme (born February 20, 1961) is an American venture capitalist at the firm Drive Capital in Columbus, Ohio, a sports car racing driver and team owner of MDK Motorsports. Business career Kvamme founded Drive Capital with Chris Olsen ...

and Chris Olsen, both formerly of

Sequoia Capital Sequoia Capital Operations, LLC is an American venture capital firm headquartered in Menlo Park, California, specializing in seed stage, early stage, and growth stage investments in private companies across technology sectors. the firm had appro ...

. The firm primarily invests in tech startups outside

Silicon Valley Silicon Valley is a region in Northern California that is a global center for high technology and innovation. Located in the southern part of the San Francisco Bay Area, it corresponds roughly to the geographical area of the Santa Clara Valley ...

. Drive Capital has invested in various companies based in the United States and Canada. The firm's investments include Root Insurance Company,

Duolingo Duolingo, Inc. is an American educational technology company that produces learning Mobile app, apps and provides Language assessment, language certification. Duolingo offers courses on 43 languages, ranging from English language, English, Fre ...

, Olive, Greenlight,

Civis Analytics Civis Analytics is a US data science software and consultancy company founded by Dan Wagner in 2013, with backing by Eric Schmidt. Wagner had served as the Chief Analytics Officer for Barack Obama's 2012 re-election campaign. Civis Analytics he ...

Udacity Udacity, Inc. is an American global for-profit massive open online course provider. It was founded by Sebastian Thrun, David Stavens, and Mike Sokolsky offering massive open online courses. According to Thrun, the origin of the name Udacity com ...

, Path Robotics, and Vecna Robotics. 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 the region. 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. 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 In finance, assets under management (AUM), sometimes called fund under management, refers to the total market value of all financial assets that a financial institution—such as a mutual fund, venture capital firm, or depository institutio ...

to $1.2 billion.

References

External links

* {{Official website, http://www.drivecapital.com Financial services companies established in 2013 Venture capital firms of the United States Companies based in Ohio