US Midwest-focused venture capital firm Drive Capital, which is currently raising its $300m debut fund, has made its first two investments.
Drive has backed Roadtrippers, a web-based company that helps travelers plan road trips, and CrossChx, which provides patient identification and security technologies for healthcare facilities.
Drive Capital did not disclose the financial terms of the deals.
Principal Mark Kvamme said, “Since moving here, I have had the opportunity to meet several companies and entrepreneurs that would rival those in any other place in the world, and these two companies and these entrepreneurs are among the very best.”
The firm invests in companies with global market opportunities in the IT, financial services, consumer, and healthcare services sectors.
Kvamme and fellow principal Chris Olson have both worked for venture capital firm Sequoia Capital, whose investees include LinkedIn, Google, Yahoo! and PayPal.
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