Early-stage investor Hyde Park Venture Partners announced this morning that it has wrapped up its inaugural fund with $25 million in commitments. The firm, which did not disclose LPs, was founded in late 2011 by a team of area angel investors to invest in early-stage technology companies in the Midwest, with a focus on Chicago. The firm aims to back tech-enabled business, consumer services and healthcare IT companies that are raising a first or second round of institutional capital. Hyde Park list seven companies in its portfolio, including Chicago-based InContext Solutions, a developer of Web-based 3D shopping software. Hyde Park co-led a $1.5 million round for the company in January 2012. The venture firm already has an exit to its credit, with the sale of Tap.Me to MediaMath in December for an undisclosed amount.
HYDE PARK VENTURE PARTNERS CLOSES $25 MILLION FUND
Early-Stage VC Fund Continues Investing in Midwest Technology Companies
CHICAGO, June 13, 2013 – Hyde Park Venture Partners (HPVP), the early stage venture capital firm that invests in technology companies across the Midwest, today announced that it has closed its Hyde Park Venture Partners Fund with $25 million in commitments exceeding its $20 million target. The new fund makes seed and Series A investments in high potential tech-enabled business, consumer and healthcare companies.
“We are excited to finish our fundraising with the addition of several terrific limited partners,” said Guy Turner, managing director of Hyde Park Venture Partners. “We will continue to nurture the innovation that is constantly emerging throughout the Midwest by investing in some of the region’s best entrepreneurs and those yet to be discovered.”
HPVP’s principals, Ira Weiss and Guy Turner, have strong experience and proven success in early stage investing, technology and strategy. Several advisors are also taking an active role in this fund, including Gregg Kaplan (Redbox), Sam Yagan (OkCupid) and Steve Farsht (TechStars). Sam Yagan, was recently named to the 2013 TIME 100 list of the 100 most influential people in the world. HPVP also works in partnership with Hyde Park Angels, the Midwest’s largest angel organizations.
“The Hyde Park Angels/Hyde Park Venture Partners relationship is proving to be a powerful one,” said Karin D. O’Connor, managing director, Hyde Park Angels. “Together, we have the investment experience, network, broad-based industry expertise, and capacity to invest well and help our companies succeed. We at HPA are excited about the fund’s successful raise and look forward to continued collaboration.”
HPVP and HPA most recently led a $750,000 Series A investment in SimpleRelevance, a personalized digital marketing company that is currently enrolled in TechStars Chicago’s inaugural class. Other current HPVP portfolio companies include FarmLogs, InContext Solutions, Food Genius, ParkWhiz, NoRedInk and LevelEleven.
About Hyde Park Venture Partners:
Hyde Park Venture Partners (HPVP) is an early stage venture capital fund investing in new technology companies in the Midwest, with particular focus in Chicago. HPVP works in partnership with Hyde Park Angels and invests in technology-enabled business and consumer services and healthcare IT companies raising their first or second round of institutional capital, ranging in total size from $750K to $2.5M. For more information, visit HydeParkVP.com.