Hyde Park Venture Partners, headquartered in Chicago, concludes the closing of its $98 million Fund IV, having already made two investments to date

Grand Ventures in Michigan secured $50 million in capital commitments last October, while Columbus-based Rev1 raised $30 million for its third Catalyst Fund targeting life sciences in 2023.

Now, Hyde Park Venture Partners (HPVP) is making waves. The Chicago-based early-stage firm has successfully raised $98 million in new capital commitments for its Fund IV. With the closure of Fund IV, HPVP now manages approximately $320 million in total assets, including four general funds and a $30 million Opportunity Fund established in 2021.

The founders noted the challenging fundraising landscape last year, with much of the difficulty attributing to the rapid fundraising pace of the preceding two years.

The composition of limited partners in this fund comprises around 25% institutional investors, 35% family offices, and the remainder consists of ultra high-net-worth individuals. The fourth fund has gained support from new institutional partners such as NVNG and Cintrifuse Capital, alongside recurring supporters like the Illinois Growth and Innovation Fund, RK Mellon Foundation, and Renaissance Venture Capital.

Hyde Park Venture Partners is renowned for its extensive reach, encompassing over 90% of mid-continent startups, and its early investments in companies like ShipBob, FourKites, G2, LogicGate, and Dentologie.