Article · Wikipedia archive · Last revised Jul 28, 2026

Drive Capital

Drive Capital is a venture capital firm headquartered in Columbus, Ohio.

Last revised
Jul 28, 2026
Read time
≈ 2 min
Length
423 w
Citations
14
Source
Wikipedia ↗
Drive Capital
Company type
Private
IndustryVenture capital
Founded2013
FounderMark Kvamme, Chris Olsen
Headquarters
Columbus, Ohio
,
US
Area served
United States and Canada
Total assets$1.2 billion1
Websitedrivecapital.com

Drive Capital is a venture capital firm headquartered in Columbus, Ohio.

History

Drive Capital was founded in 2013 by Mark Kvamme and Chris Olsen, both formerly of Sequoia Capital.2 The firm primarily invests in tech startups outside Silicon Valley.3 Drive Capital has invested in various companies based in the United States and Canada.

The firm's investments include Root Insurance Company,4 Duolingo,5 Olive,6 Greenlight, Civis Analytics,7 Udacity,8 Path Robotics,9 and Vecna Robotics.10 The organization's programs focus on establishing entrepreneurial ecosystems with a goal to support new businesses and solidify a base of operation in the midwestern United States, rather than refocusing financial investment opportunities outside the region.1112

In February 2014, the firm established its first $250 million venture capital fund, Drive Capital Fund I. In September 2016, the firm began investing from its second $300 million fund.13 In January 2020, the firm established its first $301 million expansion stage fund, Overdrive Fund I. The four funds bring the firms assets under management to $1.2 billion.14

References

References

  1. "Two ex-Sequioa VCs". TechCrunch. January 12, 2021.
  2. "Drive Capital, LLC: Private Company Information – Businessweek". Investing.businessweek.com. Retrieved February 15, 2014.{{cite web}}: CS1 maint: deprecated archival service (link)
  3. "Two ex-Sequoia VCs: The most 'compelling emerging market' may be America, outside of Silicon Valley". TechCrunch. January 12, 2021. Retrieved February 4, 2021.
  4. Chernova, Yuliya (October 28, 2020). "Root's IPO Is a Windfall for Drive Capital, Ribbit, Other VCs". Wall Street Journal. Retrieved November 17, 2021.
  5. "Duolingo – How do you say...?". CNBC. May 22, 2018. Retrieved April 9, 2019.
  6. "Columbus companies in the Drive Capital portfolio have raised $782 million so far this year". Columbus Business First. Retrieved November 17, 2021.
  7. "Ex-Obama techie's startup raises $31 million". Crain's Chicago Business. September 27, 2021.
  8. "Drive Capital leads $35M investment in online training provider". www.bizjournals.com. Retrieved April 10, 2019.
  9. "Path Robotics raises $56M for 'aggressive' expansion of AI-powered welding". Columbus Business First.
  10. "Vecna Robotics Looks To The Future With New Investment, New Leadership And New Direction". markets.businessinsider.com. Retrieved April 10, 2019.
  11. "Drive Capital founders Mark Kvamme and Chris Olsen sees ingredients for VC success in Midwest". Upstart.bizjournals.com. October 19, 2013. Retrieved February 15, 2014.
  12. "Mortgage". Retrieved April 14, 2021.
  13. McBride, Sarah (February 4, 2014). "Ex-Sequoia partners raise $250 mln for Silicon Valley-style startups in Midwest". Reuters. Retrieved February 15, 2014.
  14. "MN Startups Raised $1.2B in Funding Last Year | Drive Capital Closes 2 New Funds | AmericanInno". www.americaninno.com. Retrieved August 5, 2020.
External links