Hyde Park Venture Partners has closed its third venture fund totaling $100 million. Backed by top institutional investors including Richard King Mellon Foundation, Renaissance Venture Capital, and the Illinois Growth and Innovation Fund, among repeat investors, HPVP’s third fund exceeded its target of $75 million and hit its hard cap of $100 million, according to a press release.
“Hyde Park Venture Partners is a go-to early-stage fund in the Midwest, investing in the best companies and entrepreneurs," Renaissance Venture Capital Fund Principal Jeffrey Rinvelt said in a statement. “Combined with the thriving mid-continent tech ecosystem, we firmly believe in HPVP and are thrilled to be partnering with the entire team.”
With visibility into more than 90% of mid-continent-based opportunities, HPVP has a track record of investing in and partnering with the mid-continent’s leading technology companies. With its debut fund of $25 million, HPVP invested in G2 (formerly G2 Crowd), and FourKites among other standouts. With its second fund of $65 million, the firm invested in companies including ShipBob, Terminus, and VNDLY.
HPVP’s portfolio companies have raised more than $730 million in follow-on financing rounds from top investors including Accel, Bain Capital Ventures, Emergence Capital, IVP, Menlo Ventures and more.
“From day one, Hyde Park Venture Partners has been an amazing advocate,” said Godard Abel, CEO, and founder of G2, in a statement. “The value their entire team adds in terms of expertise, connections, and ongoing support goes far beyond capital.”
The close of Fund III brings HPVP’s total assets under management to $190 million, growing from $25 million in Fund I to $65 million in Fund II. This builds on recent momentum across the firm’s portfolio, including G2’s $55 million Series C, FourKites $50 million Series C, and ShipBob’s $40 million raise.