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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.
Currently, the 701 Fund manages a portfolio of 35 companies and has completed a total of 42 investments. The firm operates across ten states in the Midwest and focuses on 14 different industries, showcasing its commitment to fostering growth in the region. The fund has achieved five notable exits, demonstrating its effectiveness in identifying and supporting successful startups.
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. This broad investment strategy allows the firm to target various high-growth opportunities across the Midwest.
Operating across ten states, the fund targets investments at various stages, including Seed, Series A, Series B, and Growth Equity. The firm looks for startups that demonstrate strong growth potential and innovative solutions within their respective industries. The 701 Fund emphasizes the importance of leveraging its network of professionals to enhance entrepreneurial success and mitigate risks associated with new ventures.
As of 2026, the 701 Fund has invested in 35 companies, completing a total of 42 investments. The firm has achieved five notable exits, indicating its ability to identify and support successful startups. While specific details about the portfolio companies were not provided, the fund's diverse investment strategy spans various sectors, including healthcare, biotech, SaaS, cybersecurity, agtech, and industrial.
The portfolio reflects the fund's commitment to supporting high-growth startups in the Midwest, with investments made across 14 different industries. This broad approach allows the 701 Fund to capitalize on emerging trends and technologies, positioning itself as a key player in the regional startup ecosystem.
Greg Syrup, SHRM-CP, MBA - Founding Partner. Greg has extensive experience in venture capital and entrepreneurship, having led numerous successful investments in the Midwest.
Heather McDougall - Partner. Heather brings a strong background in business development and operational strategy, contributing to the fund's investment decisions.
Dr. Blake Feil, DDS, MS - Partner. Dr. Feil has expertise in healthcare and medical devices, providing valuable insights into investments in the biotech sector.
Dr. Todd Pringle, PhD - Partner. Dr. Pringle specializes in technology and innovation, enhancing the fund's focus on sectors like cybersecurity and SaaS.
To pitch the 701 Fund, founders should email Contact@701AngelFund.com with a detailed pitch deck. The deck should include information about the business model, market opportunity, financial projections, and team background. A warm introduction is preferred but not required. Response times may vary, so founders should be prepared for potential follow-up discussions.
In 2026, the 701 Fund has completed a total of 42 investments across 35 portfolio companies, achieving five notable exits. This activity highlights the fund's commitment to supporting high-growth startups in the Midwest.
The firm continues to focus on diverse sectors, including healthcare, biotech, SaaS, and cybersecurity, as it seeks to identify and invest in promising startups within these industries.
What are the investment criteria for the 701 Fund?
The 701 Fund focuses on high-growth startups in the Midwest, investing across various sectors such as healthcare, biotech, SaaS, and cybersecurity. The firm targets companies at different stages, including Seed, Series A, Series B, and Growth Equity.
How can I apply or pitch to the 701 Fund?
Founders can reach out via email at Contact@701AngelFund.com to initiate a conversation about potential investment opportunities. A detailed pitch deck outlining the business model, market opportunity, and financial projections is recommended.
What makes the 701 Fund different from other venture capital firms?
The 701 Fund leverages an extensive network of professionals to support entrepreneurs, providing not only capital but also valuable resources and mentorship. This approach enhances the likelihood of success for portfolio companies.
What is the geographic scope of the 701 Fund?
The firm operates across ten states in the Midwest, focusing on startups that address the capital needs of the region. This geographic focus allows the fund to tap into local market dynamics and opportunities.
What is the typical check size for investments?
While specific check sizes are not disclosed, the 701 Fund invests across various stages, indicating a flexible approach to funding that can accommodate different startup needs.
What is the post-investment involvement of the 701 Fund?
The 701 Fund actively engages with its portfolio companies, providing mentorship and leveraging its network to assist in growth and development. This involvement helps ensure that startups have the support they need to succeed.
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