Discover if this is a suitable investor for your startup. If they are we'll make a warm introduction for free. Otherwise, we'll connect you with matching investors.
Capital Midwest Fund (CMF) is a venture capital firm established in 2006 and based in Mequon, Wisconsin. The firm focuses on investing in revenue-stage companies primarily located in the Central United States. CMF aims to support businesses that leverage technology to address specific customer challenges, particularly in the industrial and manufacturing sectors. The firm recognizes the unique advantages of the Midwest in manufacturing and technology, positioning itself as a key player in fostering innovation within the region.
As of now, CMF manages a portfolio of 51 companies and operates with a check size range of $500,000 to $2 million. The firm has successfully raised multiple funds, with its current Fund IV actively deploying capital. CMF's investment strategy is centered on identifying companies that demonstrate a solid understanding of technology trends and have successfully applied these insights to solve customer problems. The firm is committed to enhancing operational efficiencies and market reach for its investments, ensuring they are well-positioned for growth.
CMF's office is located at 10556 N Port Washington Rd Ste 201, Mequon, WI 53092. The firm has established a reputation as a top venture capital firm in Wisconsin, recognized for its strong ties to the Midwest ecosystem and its focus on revenue-stage technology companies.
Capital Midwest Fund invests in revenue-stage B2B technology companies that provide solutions for industrial and manufacturing sectors in the Central United States. The firm targets companies that demonstrate a fundamental understanding of technology trends and have successfully applied these insights to solve specific customer problems. CMF seeks businesses with proven market traction and acceptance, focusing on sectors such as industrial technology, healthcare, biotech, fintech, energy, consumer, proptech, and logistics.
The investment stages range from seed to Series B and growth equity, with check sizes typically between $500,000 and $2 million. CMF's thesis emphasizes the importance of technology solutions that enhance operational efficiencies and market reach. The firm is particularly interested in companies that leverage technology to address challenges in the industrial and manufacturing sectors, aligning with the Midwest's strengths in these areas.
Capital Midwest Fund's portfolio includes a diverse range of companies that leverage technology across various sectors. Notable portfolio companies include:
Alvin Vitangcol: General Partner at Capital Midwest Fund. He has extensive experience in venture capital and has been instrumental in guiding the firm’s investment strategy since its inception.
Jacob DeZarn: Partner at CMF, focusing on identifying and evaluating early-stage tech companies in the Midwest. He has a strong background in technology investments and has led several successful deals in the region.
CMF's team consists of 11 members, including additional partners whose names are not disclosed. The firm is recognized for its strong ties to the Midwest ecosystem and its focus on revenue-stage technology companies.
To pitch Capital Midwest Fund, founders should use the contact form available on their website at capitalmidwest.com. It is essential to include a comprehensive deck that outlines the business model, market opportunity, and traction. CMF prefers pitches that clearly demonstrate how the startup's technology addresses specific challenges in the industrial and manufacturing sectors.
Response times can vary, but founders should expect to hear back within a few weeks. Warm introductions are beneficial, as they can facilitate a more favorable review process.
In August 2025, Capital Midwest Fund made a notable investment in AIQ Solutions, a company developing a clinical decision support platform for oncology. Earlier in 2025, CMF participated in a Series B round for Valid8 Financial in February. In March 2024, the firm invested $8 million in Sprocket Security, further expanding its portfolio in the technology sector.
CMF has been actively deploying capital from its current Fund IV, which focuses on revenue-stage B2B technology companies. The firm has successfully completed 51-63 investments across its portfolio, with notable exits including Realync in September 2024 and ScholarCentric in 2021.
What are Capital Midwest Fund's investment criteria?
CMF invests in revenue-stage B2B technology companies that demonstrate a solid understanding of technology trends and have successfully applied these insights to solve customer problems. The firm focuses on sectors such as industrial technology, healthcare, biotech, fintech, energy, consumer, proptech, and logistics.
How can I apply or pitch to Capital Midwest Fund?
Founders can pitch to CMF through their website at capitalmidwest.com. It is advisable to include a detailed business plan and information on market traction in the pitch.
What makes Capital Midwest Fund different from other VCs?
CMF focuses specifically on revenue-stage companies in the Central United States, particularly in the industrial and manufacturing sectors. The firm leverages its extensive network within the Midwest to provide strategic guidance and connections to industry resources.
What is the geographic scope of Capital Midwest Fund's investments?
CMF primarily invests in companies located in the Central United States, emphasizing the unique advantages of the Midwest in manufacturing and technology.
What is the typical check size for investments?
CMF typically invests between $500,000 and $2 million in its portfolio companies.
What kind of post-investment involvement does Capital Midwest Fund have?
CMF adds value to its portfolio companies by providing strategic guidance, enhancing operational efficiencies, and facilitating connections to industry resources to ensure growth.
All trademarks, logos and brand names are the property of their respective owners. All company, product and service names used in this website are for identification purposes only. Use of these names, trademarks, and brands does not imply endorsement.