Chicago-based venture capital firm Hyde Park Venture Partners (HPVP) has announced the closure of its fourth fund, raising $98 million to focus on early-stage startups. With this new fund, the firm plans to invest in approximately 20 to 22 companies.
Founded in 2012, HPVP now manages a total of $320 million in assets across four general funds and one opportunity fund. The newly launched HPVP Fund IV will provide investments ranging from $500,000 to $4 million per startup. The firm has already backed two companies with this fund.
Hyde Park Venture Partners has a history of successful exits, with portfolio companies such as VNDLY, Tock, Pear Deck, and FairX. This track record has solidified the firm’s reputation as a key player in fostering innovation and growth within its target regions.
Allison Lechnir, a partner at HPVP, highlighted the firm’s commitment to nurturing entrepreneurial talent in the Midwest and Toronto. “We are thrilled to continue working with talented founders building impactful companies in these regions,” she said. “The sustainable success of companies like ShipBob, FourKites, and G2 from our portfolio has helped elevate our geography onto the national startup stage.”
Lechnir added, “Fund IV will enable us to directly support top-tier founders with our capital while also connecting our portfolio companies with the talent and next-stage partners they need to scale effectively.”
With its latest fund, Hyde Park Venture Partners is set to further solidify its presence in early-stage investment, focusing on driving growth and innovation across the regions it serves.
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