The Milwaukee-based venture firm Gateway Capital Partners has officially reached the first close of its second investment vehicle. Targeting a total of $25 million, Fund II signals a major expansion for the firm, which was founded by Dana Guthrie in 2020. This milestone allows the firm to begin deploying capital into a new generation of startups as it builds on the momentum of its inaugural $13 million fund.
Strategic Focus on Industrial Innovation
While Gateway Capital remains industry-agnostic, Fund II is specifically designed to capitalize on the Midwest’s industrial strengths. Guthrie intends to prioritize sectors where the region has a competitive edge and is “ripe for disruption.” Key areas of interest include:
- Supply chain and logistics
- Manufacturing AI
- Industrial technology
The firm expects to back at least 20 companies through this fund, providing check sizes typically ranging between $500,000 and $600,000. Fundraising for this latest effort began in mid-2023, and the successful first close marks a significant step toward the firm’s $25 million goal.
Strengthening the Regional Ecosystem
Since its inception, Gateway Capital has been a pivotal player in the regional venture landscape, focusing on high-potential startups that might otherwise be overlooked by coastal investors. By doubling its capital base compared to Fund I, the firm is positioned to deepen its impact on the Milwaukee tech scene and beyond.
As the venture landscape evolves, industry gatherings like StrictlyVC and TechCrunch Disrupt continue to showcase the importance of regional hubs in the broader tech economy. For Gateway Capital, this first close is a commitment to the continued technological evolution of the American Midwest, ensuring that local entrepreneurs have the resources necessary to scale.
