Midwest Venture Capital Firm Secures $98M for Fourth Fund

Hyde Park Venture Partners, a Chicago-based early-stage firm, has raised $98 million for its Fund IV. The close of Fund IV brings HPVP’s total assets under management to approximately $320M, including the $25M 2012 Fund I, $65M 2015 Fund II, $100M 2019 Fund III, and $30M 2021 Opportunity Fund.

Partner institutions backing the fourth fund include NVNG and Cintrifuse Capital, along with repeat backers such as the Illinois Growth and Innovation Fund, RK Mellon Foundation, and Renaissance Venture Capital.

Hyde Park Venture Partners has visibility into more than 90% of mid-continent startups and were early backers of ShipBob, FourKites, G2, LogicGate, and Dentologie, among many others. Combined, HPVP’s portfolio companies have raised well over​ $1B​ in follow-on financing rounds. The firm typically leads deals, writing average check sizes between $500,000 and $4 million. 

The new fund will be deployed into between 20 and 22 companies, with HPVP already having invested in two companies from the fund: Diffit and CivCheck. Notable exits from the firm's portfolio companies include VNDLY, acquired by Workday, and Tock, acquired by Squarespace.