MILWAUKEE, Jan. 20, 2022 /PRNewswire/ -- Capital Midwest Fund (CMF), a Milwaukee-based venture capital firm, today announced that its portfolio companies participated in the venture capital industry's record-setting year in 2021 by raising over $160 million in follow-on funding rounds (including undisclosed funding rounds).

The venture capital industry was nothing short of spectacular in 2021. Last week, the National Venture Capital Association (NVCA) reported that venture capital-backed companies raised approximately $330 billion, nearly doubling 2020's previous deal high, according to the PitchBook-NVCA Venture Monitor.

Leading the charge for CMF portfolio companies was Hologram with its $65 million Series B funding round in August led by Tiger Global.

These were some of the other highlights for CMF portfolio companies in 2021:

• Intellihot raised a $50 million growth financing round in December led by Aegon Asset Management and the Avenue Sustainable Solutions Fund.
• LightGuide raised a $15 million Series B funding round in July led by G2 Venture Partners (G2VP). G2VP invested in LightGuide because of LightGuide's ability to provide guidance plus confirmation for manufacturing and distribution, improving both speed and quality.
• Lumanu raised a $12 million Series A funding round in July led by Origin Ventures.
• Valid8 Financial raised a funding round in September.
• SkySpecs made two acquisitions of European wind energy technology companies, Fincovi and Vertikal AI, to provide more data-driven predictive insight and automation to its global wind customers.

About Capital Midwest Fund

Capital Midwest Fund is a venture capital firm investing in revenue-stage companies that provide customer-centric, problem-solving, business-to-business technology solutions, including software, services, and products. CMF focuses on companies where management: (1) has a fundamental understanding of trending technology themes; (2) has applied that understanding in a practical way to solve specific customer problems; and (3) has shown traction in garnering market acceptance.

https://www.capitalmidwest.com

Contact:
Julia Wilson
Capital Midwest Fund
[email protected]

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SOURCE Capital Midwest Fund