Future Value Fund I launched to bridge pre-seed funding gap

Rev1 Ventures has launched Future Value Fund I, a new $10MM for-profit investment fund focused on building the Central Ohio startup ecosystem. The fund is the company’s most significant pre-seed fund to date and the largest pre-seed stage fund in Columbus history. Ohio State joins Rev1 to invest in the fund, with the Ohio Third Frontier Pre-Seed/Seed Plus Fund Capitalization Program providing a $5 million loan to bring the total fund capitalization to $10 million.

According to the National Venture Capital Association, startups in the U.S. raised nearly $157 billion in venture funding last year. However, pre-seed investment remains a gap, especially in the Midwest, where venture capital formation still lags coastal cities.

The Future Value Fund is designed to provide pre-seed-stage companies with the resources to bridge this gap. The Fund enables companies to effectively and efficiently validate their product with key customers and markets, identify and recruit early key talent, and provide critical insights for entrepreneurs in building and then scaling their businesses. The Fund will invest in up to 15 companies in digital health, healthcare IT, HR technology, fintech, insurtech, data analytics, and enterprise Software-as-a-Service. The Fund will also invest in spinouts from The Ohio State University in Advanced Materials, Alternative Energy, Sensors and Hardware, and Ag and Food Tech.

“Our collaborations with Rev1 have helped commercialize research-based breakthroughs from Ohio State, and we recognize that capital and support early on is critical,” said Cheryl Turnbull, senior director for the Keenan Center for Entrepreneurship at Ohio State. “We have committed capital to FVF because we recognize such funds are necessary to support the technologies and entrepreneurs that are propelling the startup ecosystem in Ohio.”

Read the full release at Rev1's website.