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Case
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Reference no. 9-823-056
Subject category: Entrepreneurship
Authors: Paul A Gompers (Harvard Business School); Alicia Dadlani (Harvard Business School)
Published by: Harvard Business Publishing
Originally published in: 2023
Version: 1 April 2023
Length: 28 pages
Data source: Field research
Topics: Entrepreneurship; Finance and investing; Investment management; Start-ups; Strategy; Venture capital
Share a link: https://casecent.re/p/191293
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Abstract

Founded by two former Sequoia Capital partners, Columbus-Ohio-based Drive Capital's mission was to build a world-class venture capital firm in the middle of the US, an area historically overlooked by VCs. Drive faced early challenges of attracting investors, sourcing talent, and building entrepreneurial ecosystems, but by 2022, the firm had invested in over 90 portfolio companies and had assets under management of over USD2 billion, making it the largest VC firm outside the coasts. In the Winter of 2022, cofounder and CEO Chris Olsen contemplated an investment into Forge Biologics, an Ohio-based gene therapy contract development and manufacturing company. The partnership weighed the pros and cons in the context of the fund's overall portfolio and macroeconomic headwinds facing the industry.
Locations:
Ohio; United States
Industries:
Biotechnology industry; Financial service sector
Size:
50-500 million; Mid-size
Other setting(s):
2022
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About

Abstract

Founded by two former Sequoia Capital partners, Columbus-Ohio-based Drive Capital's mission was to build a world-class venture capital firm in the middle of the US, an area historically overlooked by VCs. Drive faced early challenges of attracting investors, sourcing talent, and building entrepreneurial ecosystems, but by 2022, the firm had invested in over 90 portfolio companies and had assets under management of over USD2 billion, making it the largest VC firm outside the coasts. In the Winter of 2022, cofounder and CEO Chris Olsen contemplated an investment into Forge Biologics, an Ohio-based gene therapy contract development and manufacturing company. The partnership weighed the pros and cons in the context of the fund's overall portfolio and macroeconomic headwinds facing the industry.

Settings

Locations:
Ohio; United States
Industries:
Biotechnology industry; Financial service sector
Size:
50-500 million; Mid-size
Other setting(s):
2022

Related

Sorry, this product has no related items.