Dundee Venture Capital tops goal with oversubscribed, $31M fund

In conjunction with welcoming a new partner to its ranks, regionally-focused fund Dundee Venture Capital recently surpassed its goal to raise a $30 million investment fund targeting Midwest startups.

The Omaha-based fund announced that its third fund is oversubscribed at $31 million and will target startups in Kansas City, St Louis, Omaha, Lincoln, Denver, Indianapolis, Minneapolis and Chicago.

Dundee typically offers seed funding from $250,000 to $750,000 to high-growth, early-stage tech firms — especially those in e-commerce, software-as-a-service and consumer networks.

Dundee already has invested in a host of Kansas City-area firms, including Divvy HQ, ABPathfinder, MySideWalk, Leap.it and Briefcase. The firm has helped launch and grow 37 tech companies in e-commerce, SaaS and consumer network businesses.

In addition to surpassing its $30 million goal, the fund welcomed entrepreneur and investor John Jenkins as a partner. Most recently, Jenkins was the founder of Benaissance, which in 2015 sold to WEX Inc. for $80 million.

“There’s so much talent in the Midwest,” Jenkins said in a release. “Our goal is to help de-mystify venture capital and de-risk the founder’s journey. We want to help them build to the highest and greatest expression of their vision for their business. Growing enterprises pose new challenges for founders, and smart founders align themselves with people who have successfully navigated these waters.”

To learn more about the fund, check out this story we published on Dundee partner Beth Engel in 2016.