Gateway Capital Partners, a venture firm founded by Dana Guthrie, announced the first close on its $25 million target Fund II earlier this week, the Milwaukee-based company told TechCrunch. Gateway Capital declined to share the exact amount of its first close.
The first close means Fund II can begin investment operations.
Guthrie said the company began raising Fund II in the middle of last year. The average check size for Fund II is between $500,000 and $600,000.
She said it will be industry-agnostic, but will have a “bias toward Midwestern industries where disruption is more likely to occur,” including supply chain, logistics and AI manufacturing. Guthrie said he hopes to support at least 20 companies from the fund.
Launched in 2020, Gateway Capital last raised $13 million in Fund I in 2020.
