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| Type | Private |
|---|---|
| Industry | Venture capital |
| Founded | 2013 |
| Founder | Mark Kvamme, Chris Olsen |
| Headquarters | , US |
Area served | United States and Canada |
| Total assets | $1.2 billion [1] |
| Website | drivecapital |
Drive Capital is a venture capital firm headquartered in Columbus, Ohio.
Drive Capital was founded in 2013 by Mark Kvamme and Chris Olsen, both formerly of Sequoia Capital. [2] The firm primarily invests in tech startups outside Silicon Valley. [3] Drive Capital has invested in various companies based in the United States and Canada.
The firm's investments include Root Insurance Company, [4] Duolingo, [5] Olive, [6] Greenlight, 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 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 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. [13]
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