Gateway Capital Partners, the Milwaukee-based venture firm founded by Dana Guthrie, has achieved the first close of its $25 million Fund II. The exact first close amount remains undisclosed, as reported by TechCrunch.
Initiated last year, Fund II has an average check size ranging between $500,000 and $600,000. While industry-agnostic, the fund focuses on supporting Midwest sectors poised for innovation, such as supply chain, logistics, and manufacturing AI. Guthrie aims to support a minimum of 20 companies through this fund, fostering growth and technological advancement in the region.
Gateway Capital, established in 2020, previously closed a $13 million Fund I, solidifying its commitment to tech innovation. The successful first close of Fund II not only expands Gateway Capital’s investment capabilities but also underlines the growing potential for tech development in the Midwest.
Source: TechCrunch