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November 30, 2022 | Tom Ballard

Heartland Ventures closes Fund II at $52 million

Columbus, OH-based Heartland Ventures, a venture capital firm with a focus on connecting technology start-up hubs with customers in America’s heartland, has announced the successful closing of its $52 million Fund II.

As with Heartland’s first fund, the firm writes in this news release that Fund II investments will be focused on high-growth technology start-ups with B2B (business-to-business) strategies serving real estate, construction, manufacturing, and logistics.

“Heartland’s unique operating model provides not only growth capital to technology start-ups but also connects them with qualified prospective customers,” the firm explains. Many of these potential customers are billion-dollar, privately held businesses that serve as Heartland’s Limited Partners and help to identify opportunities for innovation within their industries.

“We are thrilled to be announcing the successful closing of Fund II, which is more than triple the size of Heartland’s debut fund,” said Max Brickman, Founder and Managing Director of Heartland Ventures. “In just a few years, our unique model has proven valuable to both high-growth start-ups and industrial corporations. For too long, there has been a disconnect between the innovation happening in traditional tech hubs and the legacy industrial corporations that stand to benefit from it. The opportunity to connect industry with innovation is more compelling than ever.”