the midwest fund launches, brings the fund’s innovative investment strategy to a fifth market
A New Venture Fund Focuses on Midwest Startups
A novel investment fund is being launched across cities in the Midwest, spearheaded by individuals well-known within the local entrepreneurial ecosystems. Appropriately titled the Midwest Fund, it concentrates on early-stage startups spanning from Pittsburgh to Chicago, Detroit to Cincinnati, and all locations in between.
Funding Model and Origins
This fund distinguishes itself from conventional venture capital firms by sourcing its capital from accomplished entrepreneurs seeking avenues to reinvest within their respective regions.
The Midwest Fund originated from The Fund, a venture capital group based in New York City. Established in 2018 by Jenny Fielding, Scott Hartley, Katie Hunt, Adam Carver, and Matthew Brimer, The Fund has expanded to include micro-funds in Los Angeles, London, and the Boulder/Denver metropolitan area.
Each expansion strategically incorporates local founders and investors to lead operations within their specific regions.
Leadership and Diversity
The founding general partners of the Midwest Fund are prominent figures throughout the Midwest. This includes Ted Serbinski and Tops Kataria from Detroit, Chris Bergman of Cincinnati, Lynsie Campbell from Pittsburgh, and Jennifer Fried representing Chicago.
Mirroring the approach of The Fund, the Midwest Fund prioritizes gender diversity, ensuring equal representation on its investment committees.
Commitment to Balanced Investing
“The Fund has consistently aimed for equal gender representation on the investment committee,” stated Ted Serbinski, a General Partner at The Midwest Fund. “We believe this composition, rather than a strict requirement, fosters more equitable investment decisions.”
Over the past three years and across other geographic locations, The Fund has invested in over 40% of companies led by female founders. The expectation is that similar results will be achieved in the Midwest, furthering this important objective.
The Midwest as a Startup Hub
The Midwest has a long and established history as a breeding ground for significant industries and innovative startups, with new ventures emerging continuously. Approximately eight years ago, Ted Serbinski, while at Detroit Venture Partners, identified the region as a valuable resource, likening it to a diamond with key cities forming its points.
Now, as part of The Midwest Fund, he is positioned to provide seed-stage funding to promising young companies.
Fund Activity and Speed
Serbinski explained to TechCrunch that this fund’s defining characteristic is its rapid deployment of capital. The intention is to invest in two Midwest-based companies each month for a period of two years, potentially making it the most active fund in the region.
Local Limited Partners
The Midwest Fund’s limited partners are drawn from the local communities it serves. These include Amanda Lannert, CEO of Jellyvision (Chicago), Patrick Colletti, founder of Net Health (Pittsburgh), and Charlie Key, founder of Losant (Cincinnati).
Across all six funds managed by The Fund, notable limited partners also include representatives from Zillow, ClassPass, Soundcloud, Casper, Quartz, and InVision.
Matt Burns
Matt Burns: A Profile of a Leading Technology Journalist
Matt Burns is an experienced journalist specializing in technology. He currently serves as Editorial Director at Insight Media Group, a position he assumed after a distinguished tenure as Managing Editor at TechCrunch.
Early Career and TechCrunch
Throughout his career, Burns has consistently demonstrated a talent for insightful reporting and editorial leadership. He dedicated over 15 years to TechCrunch, beginning as a contributor and ultimately ascending to the role of Managing Editor.
During his time at TechCrunch, he played a crucial role in the newsroom’s expansion and the successful execution of events like Disrupt and other TechCrunch gatherings.
Insight Media Group and Current Role
At Insight Media Group, Burns is responsible for directing editorial coverage and managing contributor programs across a portfolio of rapidly expanding technology publications.
Prior to his work with Insight Media Group and TechCrunch, he contributed articles to Engadget, further establishing his credentials in the tech journalism landscape.
The Resilience Conference
Burns is also the co-founder of the Resilience Conference, a unique event series focused on the convergence of defense, security, and innovative startup ventures.
He actively shapes the conference agenda, facilitates sessions, and spearheaded the creation of “Launch @ Resilience,” a platform designed to showcase early-stage companies developing technologies for national defense.
Areas of Expertise and Interviews
His reporting and moderation experience encompasses a wide range of technological fields, including AI, mobility, and frontier technologies. He also frequently addresses the significant challenges faced by technology companies.
Burns has conducted interviews with a diverse array of prominent figures, including global leaders, leading investors, founders of startups, and CEOs of publicly traded companies.
Background and Interests
Originally from Michigan, with substantial experience in Silicon Valley, Burns combines a Midwestern perspective with a keen editorial sensibility.
Outside of his professional endeavors, he collaborates with teams to refine their messaging and validate their market entry strategies. He also enjoys camping near Lake Michigan when his schedule allows.