Heartland Ventures

Heartland Ventures is a Columbus, Ohio-based venture capital firm that distinguishes itself through a unique "customer-driven capital" model, primarily focusing on early-stage B2B software and technology companies. Established with a mission to bridge the gap between high-growth startups and large corporate customers in the American Midwest, the firm leverages its deep network of corporate limited partners (LPs) to facilitate strategic commercial partnerships and customer acquisition for its portfolio companies. This approach provides startups with invaluable market access and validation, while offering Midwest corporations a pipeline to innovative technologies.

The firm has demonstrated consistent growth in its fund sizes, reflecting increasing investor confidence and expanding investment capacity. Its first fund, Heartland Ventures Fund I, closed at $20 million. This was followed by Heartland Ventures Fund II, which raised $40 million. Most recently, in November 2023, the firm announced the successful close of its third fund, Heartland Ventures Fund III, at $60 million. This progression underscores Heartland Ventures' commitment to scaling its operations and deepening its impact within the early-stage tech ecosystem.

Heartland Ventures typically targets Seed, Series A, and occasionally Series B rounds, with a strong emphasis on companies that can benefit from its corporate network. For initial investments, the firm generally writes checks ranging from $1 million to $3 million. Their portfolio spans various sectors, including industrial tech, logistics, manufacturing, and healthcare, all areas where the Midwest's corporate landscape offers significant opportunities for B2B innovation. Beyond capital, Heartland Ventures actively supports its portfolio companies with strategic guidance, operational expertise, and, most importantly, direct introductions to potential enterprise customers, accelerating their path to market traction and revenue growth.