The latest nine-figure VC fund just closed in Chicago, which should come as a welcome sign to the city's startup scene that's preparing for an uncertain business climate amid the coronavirus crisis.
Baird Capital, the Chicago-based investment arm of Milwaukee-based Baird, announced Tuesday that it has raised $215 million for its fifth fund.
The 20-year-old investment firm backs companies in healthcare and technology sectors, committing between $10 million and $20 million in equity over the life of an investment, the company said. Some of its Chicago investments include parking startup Arrive, childcare platform Sittercity and healthcare platform Apervita.
Baird Capital has so far made four investments from its most recent fund, investing a total of $30 million in AEGIS Energy Risk, Cala Health, ChurnZero and Greenlight Biosciences.
Baird's fund comes on the heels of Hyde Park Venture Partners' $100 million third fund, which closed in December, and Jump Capital's $200 million fund it raised in October.
Other large funds raised recently in Chicago include 7Wire Ventures, a healthcare-focused VC firm led by Glen Tullman, which raised a $100 million fund in 2018, and S2G Ventures, which raised $180 million in 2017.
