Rev1 Ventures Achieves $2B in Economic Impact to Midwest’s Startup Hub
Columbus-based Investor Startup Studio Funds 100th Startup, Achieves 50% Diversity of Investments
Columbus, OH—April 3, 2019—Today, Rev1 Ventures, the investor startup studio that combines capital and strategic services, released its 2018 Startup Impact report, revealing it has invested in its 100th business and achieved its bold goal of generating $2B in economic impact to the Columbus region from the capital attracted, revenue generated, and exits from its clients since 2013. In the last year alone, Rev1 invested more than $13MM in a record 36 companies; more than half of those investments are follow-on funding to growing companies. Rev1 clients generated over $123MM in revenue and attracted more than $157MM in capital to the region in 2018.
Rev1 portfolio companies also drove $181.5MM in exits last year, including the $100MM Amicus Therapeutics acquisition of Celenex and the Sarepta Therapeutics Inc. partnership and option to acquire gene therapy spinoff Myonexus, which included an upfront payment of $60 million.
“Columbus has truly become a leading hub for startups in the Midwest. Beyond the investment activity, Rev1 remains focused on how we, as a community, connect startups to our region’s greatest asset—a large and diverse corporate base that serves as first customers, strategic partners, and co-investors,” said Tom Walker, CEO of Rev1 Ventures. “Funding startups at scale is a cornerstone of a growing innovation economy, and we see this as just the beginning. Our mission as we move forward is to expand the capital available in the region while we continue to attract diverse talent and deepen corporate connections and ensure the region has the proper physical infrastructure to support the innovators, start-ups and scale-ups.”
With expertise in commercialization of research-based spinouts, Rev1 continues its collaborations with 50 private and public sector partners, including leading research institutions like The Ohio State University, Nationwide Children’s Hospital, and OhioHealth as well as Rev1’s state economic development partner, Ohio Third Frontier. Since 2013, these partnerships have helped to catalyze Rev1’s work, driving more than 60 investments in 37 spinouts from these world-acclaimed research institutions.
To further support this all-in approach, Rev1 has expanded its commitment to corporate innovation, growing to six dedicated corporate partner programs/funds in 2018, including State Auto, The J.M. Smucker Company, and Safelite AutoGlass, resulting in more than 220 corporate introductions for Rev1 startups.
“The biggest driver for the growth of my business has been access to the right resources. Rev1 has been a pivotal player that has literally opened the doors that set us on the path for success,” said Dr. Rachel Angel, founder and CEO of Peerro, a career pathway platform for young people seeking hourly positions and employers seeking quality hires.
“Our unique formula for startup success is working, as evidenced by the achievements and the diversity of the Rev1 portfolio, which is a benchmark we are both proud of and dedicated to continuing to improve,” said Kristy Campbell, COO of Rev1 Ventures. “Half of the investments we made in 2018 and 38 percent of the capital invested, were in companies with a woman or minority founder or inventor. Those numbers are powerful and speak for the opportunity in front of us.”
Rev1 was named the 4th most active seed investor in the U.S., and Columbus tops the list of top metros for VC funding to female founders, according to PitchBook. To view Rev1’s full 2018 Startup Impact report, visit: www.rev1ventures.com/2018-impact-report/.
About Rev1 Ventures
Rev1 Ventures is the investor startup studio that combines capital and strategic services to help startups scale and corporates innovate. Based in the Midwest, and in the number one city for scaling startups, Rev1 aligns innovators and founders with corporate and research partners to access customers and markets, helping entrepreneurs build great companies. With a proven track record of identifying, guiding and investing in high potential startups, Rev1 helps companies solve real problems for markets in need of real solutions. Rev1 has $90MM in capital under management, providing a capital continuum from corporate and community partners, as well as Ohio Third Frontier. Rev1 is among the Most Active Seed Investors in the U.S., according to PitchBook. For more information, visit www.rev1ventures.com.
Press (at) rev1ventures (dot) com