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The 701 Fund was founded in 2015 in Grand Forks, North Dakota, to address the capital needs of startups in the Midwest. The firm collaborates with high-growth investment prospects in the region, utilizing its extensive network of professionals to assist entrepreneurs and evaluate risks associated with new ventures. This focus on regional startups allows the fund to foster growth in an area often overlooked by larger investment firms.
As of 2026, the 701 Fund has made 42 investments across 35 portfolio companies, achieving five notable exits. The firm operates across ten states in the Midwest and has invested in 14 different industries. This broad geographic and sectoral reach positions the 701 Fund as a key player in the regional venture capital landscape.
The 701 Fund invests in a diverse range of sectors, including UAS/UAV Manufacturing & Technologies, Autonomous Systems, Healthcare/Medical Device/BioTech, B2B Software & Technology, Cyber Security/Data Security, Ag Tech, and Manufacturing. The firm targets investment stages from seed to growth equity, allowing it to support startups at various points in their development.
Operating across ten states, the fund's investment strategy encompasses 14 different industries. The 701 Fund looks for high-growth potential in its portfolio companies and leverages its network to enhance entrepreneurial success. This approach not only provides capital but also valuable resources and mentorship to the startups it supports.
As of 2026, the 701 Fund has invested in 35 companies, completing a total of 42 investments. The firm has achieved five notable exits, showcasing its ability to identify and support successful ventures. While specific details about the portfolio companies were not provided, the diversity of sectors in which the fund invests indicates a broad range of innovative startups.
Investments span various industries, including healthcare, biotech, SaaS, cybersecurity, agtech, and industrial sectors. This wide-ranging portfolio reflects the fund's commitment to fostering growth in the Midwest's startup ecosystem.
Greg Syrup, SHRM-CP, MBA - Founding Partner. Greg has extensive experience in venture capital and entrepreneurship, having led multiple successful investments in the Midwest.
Heather McDougall - Partner. Heather brings a wealth of knowledge in startup operations and investment strategy, focusing on supporting early-stage companies.
Dr. Blake Feil, DDS, MS - Partner. Dr. Feil has a background in healthcare and medical devices, providing valuable insights into biotech investments.
Dr. Todd Pringle, PhD - Partner. Dr. Pringle specializes in technology and innovation, contributing expertise in sectors such as cybersecurity and SaaS.
Founders should pitch the 701 Fund via email at Contact@701AngelFund.com. A well-structured pitch deck is essential, detailing the business model, market opportunity, and team qualifications. Response times may vary, so patience is advised after submission.
As of 2026, the 701 Fund has completed 42 investments across 35 portfolio companies, achieving five notable exits. The firm continues to actively seek new investment opportunities in the Midwest, focusing on high-growth startups across various sectors.
Recent activity indicates a strong commitment to supporting entrepreneurs in the region, with ongoing efforts to expand their portfolio and enhance the resources available to their companies.
What are the investment criteria for the 701 Fund?
The 701 Fund focuses on high-growth startups in the Midwest, particularly in sectors like healthcare, biotech, SaaS, and cybersecurity. The firm looks for companies that demonstrate strong potential for scalability and innovation.
How can I pitch to the 701 Fund?
Founders can reach out via email at Contact@701AngelFund.com. It is advisable to include a detailed pitch deck that outlines the business model, market opportunity, and team background.
What makes the 701 Fund different from other investors?
The 701 Fund emphasizes its regional focus, investing specifically in the Midwest. This allows them to leverage local networks and resources to support entrepreneurs effectively.
What is the typical check size for investments?
The fund invests across various stages, including seed, Series A, Series B, and growth equity, but specific check sizes are not disclosed.
What is the geographic scope of the 701 Fund?
The 701 Fund operates across ten states in the Midwest, focusing on startups that are based in or targeting this region.
What kind of support do portfolio companies receive post-investment?
The fund provides operational support and access to a network of professionals to help portfolio companies navigate challenges and scale effectively.
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