Gateway Capital Hits First Close on $25M Fund II, Boosting Milwaukee's VC Scene with Midwest Focus

Gateway Capital Partners has announced the first close of its targeted $25 million Fund II.

The Milwaukee-based venture firm, led by founder Dana Guthrie, withheld the precise amount raised in this milestone.

From Humble Beginnings to Expansion

Established in 2020, Gateway Capital previously secured a $13 million Fund I that same year.

Fundraising for Fund II kicked off mid-2025, navigating a dynamic venture landscape.

This first close unlocks immediate investment deployments for promising startups.

Average check sizes for Fund II range from $500,000 to $600,000.

The fund remains industry-agnostic but leans toward disruptive Midwest sectors like supply chain, logistics, and manufacturing AI.

Guthrie envisions backing at least 20 companies to fuel regional innovation.

This development amplifies capital access for entrepreneurs in overlooked heartland markets.

It underscores Milwaukee's rising prominence in the national VC ecosystem.

Future successes could draw more limited partners and pave the way for Fund III.

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