Future Value Fund II Closes Capital Gap to Support More Tech Startups in Columbus
COLUMBUS, Ohio, May 1, 2024 /PRNewswire-PRWeb/ -- Today, , the venture studio that helps entrepreneurs and corporations accelerate innovation, is launching the Future Value Fund II (FVFII), a $6MM pre-seed and seed capital fund to support Central Ohio companies, focusing on tech companies underserved by venture capital. Rev1 Ventures is providing $3MM in private investment, which will be matched by the Ohio Department of Development State Small Business Credit Initiative (SSBCI) Ohio Early Stage Focus Fund Program.
The number of pre-seed funding rounds was down nearly 50% in 2023, and overall funding has been at its lowest since 2018, according to Crunchbase. Undoubtedly, this decrease in financing is making it difficult for early-stage companies to scale and foster innovation. FVFII will support the immediate needs of these startups while contributing to the long-term sustainability of Central Ohio’s entrepreneurial ecosystem, including creating jobs and economic development locally.
"The capital gap is a real issue for growing the startup economy - and we have seen that even more so with pre-seed and seed-stage businesses,” said Ryan Helon, EVP Investment Funds of Rev1 Ventures. “Rev1 is committed to supporting companies at the earliest stages of growth by giving them access to funding, industry advisors, and connections that help them build successful companies, and we continue to focus on helping spur change and foster innovation in Ohio in all ways possible.”
The new fund will invest in approximately 10 startups over a four-year investment period, with a focus on enterprise/B2B software and other advanced technology companies. The fund is projected to deliver significant economic impacts, raising over $100 million in co- and follow-on investment across all portfolio companies over the life of the fund, with companies generating $10+ million of revenue by 2028 and creating 58 high-paying technology industry jobs with an average salary of $90,000+ per year by 2028.
Launched on the heels of Rev1’s , Future Value Fund II is led by a majority woman investment committee that will invest in approximately ten Ohio-based startups in enterprise, B2B software, and technology-enabled services companies. The fund specifically targets companies in investment areas.
To expand the pipeline of opportunities to underserved and underrepresented entrepreneurs, Rev1 is partnering with many regional entrepreneur support organizations, like , to provide accelerator programming to more than 125 startups each year.
To learn more about the Rev1 Future Value Fund II, visit .
About Rev1 Ventures
Rev1 Ventures is the venture development studio that helps tech startups scale and corporates innovate. A top seed investor in the Midwest, Rev1 supports and invests in early-stage companies in software, life sciences, and other advanced technologies through Rev1 Capital while fueling innovation and a thriving tech ecosystem for startups and corporations alike. By leveraging its network of corporate, community, and research partnerships, Rev1 helps high-growth companies validate customers, build teams, and access funding while enabling corporate partners to identify, source, and invest in startups. This unique approach breeds innovation, improves startup success rates, and helps entrepreneurs build great companies.
Ohio State Small Business Credit Initiative (SSBCI)
Ohio was approved by the U.S. Department of Treasury to receive funding through the federal State Small Business Credit Initiative (SSBCI) to support small businesses across the state. Ohio initially will receive $52.4 million to support socially and economically disadvantaged individuals and very small businesses. After performance targets are met, Ohio will qualify for a total of up to $182 million.
Media Contact
Aimee Eichelberger, Superior PR, 312-952-1528, [email protected]
SOURCE Superior PR
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