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Drive Capital secures $300.6M for venture capital fund

Drive Capital LLC secured about $300.6 million out of a $400.0 million target for Drive Capital Overdrive Fund I LP and Drive Capital Overdrive Fund I (TE) LP.

The venture capital fund received commitments from 36 investors so far.

Connaught (UK) Ltd. and Global Alliance Securities LLC are the placement agents.

Columbus, Ohio-based Drive Capital invests in the information technology, technology-enabled services, financial services, consumer services, services, healthcare IT and healthcare services industries in the U.S. Midwest region.