Rev1 Ventures reaches $1.4B total economic impact in Central Ohio

Columbus venture capital firm Rev1 Ventures is drawing in revenue and new capital to Central Ohio by the millions, reaching a cumulative economic impact of $1.4 billion since 2013, Columbus Business First reports. Rev1 “invested in a record number of startups in 2017 and its portfolio companies brought a combined $201 million” in revenue and new capital last year, according to the article. The nonprofit firm invests in early-stage technology companies and “mentors entrepreneurs, rents them office space and hooks them up with discounted business services.” Rev1 is also the regional manager of Ohio Third Frontier funds, and has started launching privately financed venture funds. In 2013, under new CEO Tom Walker, Rev1 set a goal of $2 billion in economic impact by the end of 2018; COO Kristy Campbell said the company feels “very good” about its progress toward that goal and “the growth of the 83 startups we’ve invested in and supported over the past five years.” For more, read the full article.

Economic Development, State Updates