Dana Guthrie’s venture firm, Gateway Capital Partners, based in Milwaukee, announced the first close for its $25 million target Fund II this week, as reported by TechCrunch. Although Gateway Capital did not disclose the specific amount of the first close, it marks the beginning of Fund II’s investment activities.
Guthrie stated that the firm started raising Fund II in the middle of last year. The average check size for Fund II will range from $500,000 to $600,000. The fund is industry-agnostic but will focus on Midwest sectors poised for disruption, such as supply chain, logistics, and manufacturing AI. Guthrie aims to support at least 20 companies through this fund.
Gateway Capital was established in 2020, with its last fundraising effort resulting in a $13 million Fund I.