Hyde Park Venture Partners Raising $25M Fund

Chicago’s venture scene is getting a new entrant.

Hyde Park Venture Partners, a firm founded by angel investors based in the Windy City, has raised $13.55 million toward a planned $25 million fund, according to a filing with the SEC.

The fund will invest in early stage technology companies in the Midwest, with particular focus in Chicago, according to its website. The emphasis will be in technology-enabled business, consumer services and healthcare IT companies raising their first or second round of institutional capital, ranging in total size from $750,000 to $2.5 million.

The filing lists two general partners, Ira Weiss and Guy Turner. Both are members of the Hyde Park Angels, which backs seed and early stage rounds for companies primarily located in the Midwest and is listed as a strategic partner for the venture fund.

Weiss, a managing director at Hyde Park Angels, is a professor at the University of Chicago Booth School of Business and a former partner at RK Ventures, a cleantech investor. As an angel, his previous investments include FeeFighters, a payments solution provider and Cloudbot, a service to manage cloud-stored data, according to AngelList. Turner is an engineer and an graduate of Booth’s MBA program, with a background in consulting.

On its website, Hyde Park Venture Capital says its focus is on companies looking for their first round of capital to bridge the gap between initial seed and later stage venture capital investments. The fund’s first new investment is InContext Solutions, a developer of 3D virtual shopping environments, according to AngelList.