The KCRise Fund, a new sidecar fund with the mission of encouraging early stage investment in Kansas City-based entrepreneurs, announced today that it has closed on an initial $10 million in commitments.
“The KCRise Fund was created as a solution to the widely held belief that one of the biggest challenges for our regional entrepreneurs is accessing capital,” said Darcy Howe, KCRise Fund manager. “With this initial fund closing, KCRise is already in discussion on potential investment opportunities with area entrepreneurs, including at least one led by a venture capital investor from outside the region looking to invest in Kansas City companies,” said Howe.
The KCRise Fund launched February 29, 2016 as an initiative of the KC Rising effort to create economic prosperity for the KC region through a focus on its globally competitive sectors, human capital, and innovation & entrepreneurship. The KCRise Fund is led by Darcy Howe with initial board members Toby Rush, founder of EyeVerify and Ron LeMay with Open Air Equity Partners.
“The KC region is well-connected, but our investment community has not been. The goal of the KCRise Fund is to make it easier and more effective for people to invest and for our entrepreneurs to access additional capital,” said Scott Smith, co-chair of the KC Rising Steering Committee and former CEO of HNTB Infrastructure. “Today’s announcement marks another important step forward for our KC region.”
To qualify as a KCRise Fund portfolio company, the company will have high growth potential; represent any industry; reside or have substantial operations between Manhattan, Kansas and Columbia, Missouri; be seeking at least $1 million in a Series A round and have an approved venture capital firm investor in the funding round.
About KCRise Fund
The KC Rise Fund is a sidecar fund that co-invests with institutional VC investors in early stage companies based in the Greater Kansas City Area. This model reduces the individual investor’s risk and centralizes the due diligence needed to vet a new entrepreneurial venture. To date, $10 million has been secured from KC area investors.