Investor Profile: Dundee Venture Capital — Thesis, Cheque Size & How to Apply

If you are researching Dundee Venture Capital funding, start with its home turf: the American Midwest. This Omaha firm leads seed rounds for founders building outside the coastal hubs, leading more than 80% of its deals. Here is how to get funding from Dundee Venture Capital, what it looks for, and where its money has gone.

Thesis: backing the Mighty Middle

Dundee Venture Capital was founded in 2010 to close the seed capital gap in Middle America. Founder Mark Hasebroock had built two Omaha e-commerce companies, GiftCertificates.com and Hayneedle. The firm's answer is to meet founders where they are, investing from an idea on a napkin through early product-market fit, with a focus on commerce enablement and supply chain technologies, innovating from the website to the warehouse.

Sectors, stages and cheque size

Dundee Venture Capital invests at the earliest stages, from pre-seed through seed, and leads rounds rather than following them. Its core areas are commerce, financial technology, and supply chain technology. Its published profile lists cheques of $50,000 to $1 million for Midwestern seed-stage technology startups. Its current site reports $90M in assets under management and more than 50 founders across its portfolio.

Fund history

The firm's third fund, Fund III, raised $20 million in its first close in 2016 against a $30 million target, to back seed and early-stage startups across the broader Midwest. The firm also expanded into Chicago through a partnership with Lakewest Venture Partners, with David Mann running its Chicago office.

Notable portfolio companies

Portfolio names featured on the firm's current site include Gather AI, which builds autonomous inventory management technology, and Vertical Insure, an embedded insurance platform. Earlier portfolio companies include Phone2Action, Fooji, mySidewalk and Built In. Its exits have included InfoChimps, DonorPath and Cosmic Cart. It says it has partnered with founders in 25 different cities.

Partners and team

Mark Hasebroock founded the firm, and Beth Engel, an early Hayneedle employee, joined him as a partner to launch it. The wider team has included Jessica Straus and Greg Beaufait. The pitch to founders is operator experience: the team has sat on both sides of the fundraising table, as founders raising venture capital and as investors deploying it.

Programs, credits and perks

Dundee Venture Capital does not publicly list an accelerator program or a credits and perks package. What it offers instead, by its own account, is a lead investor that acts quickly, takes conviction early, and stays hands-on with seed-stage teams. Judge the firm on its lead-investor record and Midwest network instead.

How to apply for funding from Dundee Venture Capital

Start on the firm's official site, dundeevc.com, and use its contact route to introduce your company. Lead with a clear fit: an early-stage commerce, fintech or supply chain company, ideally based between the coasts, with a product approaching or past early product-market fit. Because it leads most rounds, come prepared on valuation and round size. A warm introduction from a portfolio founder, a Midwest co-investor or a fellow founder in its network will carry more weight than a cold note, and your pitch should show why your company can win from where it is built, not in spite of it.