Kansas City has a new venture fund focusing on early-stage tech firms.
With $25 million in its coffers, Leawood Venture Capital has already made several investments in tech firms around the nation, including Kansas City-based Pepper IoT. Led by Brendan Fallis and Karl Gemperli, Leawood Venture Capital will provide equity investments and growth advisory services to tech startups around the U.S.
Fallis said that the fund opened at the beginning of 2017 and will average about 12 deals per year, ranging from about $500,000 to $1.25 million. Fallis said about two-thirds of the deals that Leawood Venture Capital makes will be alongside other venture funds on the East and West coasts.
The fund already has invested in five companies, including two firms in California, and one company each in Boston, Wichita and Kansas City. Most recently, the fund joined a $8.5 million Series B round in Kansas City-based Pepper IoT. Fallis said Leawood Venture Capital will focus on disruptive tech firms, including IoT, cloud technologies, SaaS and others.
Leawood Venture Capital is among several new, area funds focused on investing in startups that have popped up in the last 18 months. Other funds include the KCRise Fund, Firebrand Ventures, Royal Street Ventures and others.
Read more: Startland News