A Columbus, Ohio-based venture capital firm is expanding to Chicago to get closer to startups in the Windy City.
Loud Capital announced this month that it has opened a Chicago office at 550 W. Washington Blvd. in the West Loop. Founded in Columbus in 2015, Loud Capital has backed 28 companies, including Chicago-based internet of things startup Xaptum.
Loud Capital operates three funds: a $5 million industry-agnostic fund to back high-growth startups, a $10 million fund to help stable companies with short-term growth capital, and a $25 million fund that backs aerospace companies, explained Nishad Parmar, Loud Capital partner and head of its Chicago office.
The firm's check sizes range from $100,000 to $500,000 for high-growth startups, and $2 million to $3 million for aerospace companies.
The majority of Loud Capital's investments are in Ohio. In April, the firm said more than 90 percent of its portfolio companies are in its home state. But Loud Capital wants to reach out to more of the Midwest startup ecosystem, and having a Chicago office helps accomplish that, Parmar said.
"The Midwest is going through a big push around entrepreneurship. Companies are getting a lot more traction," he said. "We wanted to have a presence in Chicago ... There's a lot of talent here."
Other Loud Capital portfolio companies include blockchain startup SafeChain, medtech startup Genetesis, and chicken restaurant Hot Chicken Takeover.
