Ohio State University has again thrown its weight behind Rev1 Ventures, whose latest fund also attracted University of Dayton and multiple corporates.
Rev1 Ventures, a US-based startup studio, has launched the $20m Fund II with the backing of Ohio State University (OSU) and University of Dayton.
Limited partners also include diversified metals manufacturing company Worthington Industries, healthcare services provider Cardinal Health, media company Dispatch Printing, insurer Nationwide and electrical grid operator AEP Ohio.
Financial services firms Huntington Bank and US Bank, diversified holding firm Crane Group and venture capital firm Drive Capital have also invested in the fund.
Fund II will invest in seed and early-stage companies across the digital health, healthcare IT, human resources technology, fintech, insurance technology, data analytics, enterprise software-as-a-service and life sciences sectors.
The fund will enable Rev1 Ventures to invest outside of Ohio for the first time.
OSU is a long-time partner of Rev1 Ventures. Its previous commitments have included the $10m Future Value Fund, which will invest at the pre-seed stage,
Thierry Heles
Thierry Heles is the editor of Global University Venturing, host of the Beyond the Breakthrough interview podcast and responsible for the monthly GUV Gazette (sign up here for free).
