Lewis & Clark Ventures, a venture capital firm founded by Tom Hillman, has raised USD104 million for a new fund that has already begun making investments in high growth companies across the Midwest.
“We are entrepreneurs and have grown successful businesses,” Hillman says. “Our model is to pass on our experience by building mentoring relationships with people and help to guide and accelerate their growth.”
The new fund will focus primarily on Series A and B round venture capital investments in the size of USD3 to USD7 million to high growth companies. “We are interested in companies with customers and revenue that leverage technology to solve problems for markets including financial, healthcare, enterprise, agriculture and human sciences,” said Managing Director Brian Hopcraft.
Lewis & Clark Ventures announced in December a USD25 million commitment from Express Scripts to specifically target new technologies and companies that have the potential to provide Express Scripts with early access to the next big ideas in healthcare.
“We see tremendous innovation developing in the Midwest,” Hopcraft says. “The region between the mountain ranges is often overlooked by coastal venture firms, and yet has an increasing amount of companies with great ideas. The Midwest offers fertile grounds to invest our capital, resources and expertise.”
Hillman and Hopcraft have both led successful businesses, including Answers, Sendouts, Bullhorn and Gateway Media. They created a venture capital firm to support the passions of founders and accelerate the growth of early-stage companies.