Capital Midwest Fund

Capital Midwest Fund is a Wisconsin-based venture capital and private equity firm that focuses on early-stage investments in life sciences, information technology, advanced manufacturing, healthcare, consumer goods, and business services. The firm primarily targets opportunities within the Midwest region of the United States, with a particular emphasis on Wisconsin. Its investment strategy is designed to support innovative companies that demonstrate growth potential in these sectors.

Katy Almond

Associate

Eli Blee-Goldman

General Partner

Jacob DeZarn

Partner

Jacob DeZarn

Junior Partner

Daniel Einhorn

General Partner

Stephen Einhorn

General Partner

Michael Harper

Partner

Alvin Vitangcol

General Partner

Past deals in Midwestern US

FRAYT

Series A in 2023
Frayt (Freight) is a on-demand, final mile delivery platform. Frayt in enables Businesses & Retailers to offer same hour delivery to their customers coast to coast. Frayt is the trusted delivery partner of Party City, Krogers, Sherwin Williams and many more.

FactoryFix

Series A in 2022
FactoryFix is a platform based in Chicago, Illinois, that connects manufacturing companies with a network of qualified skilled workers, including engineers, machinists, and maintenance technicians. Founded in 2015, FactoryFix offers a managed marketplace that streamlines the hiring process for full-time and part-time positions, as well as contract and temporary roles. The platform not only provides access to vetted labor resources but also includes tools for generating job listings, vetting candidates, and offering salary insights. By facilitating connections between manufacturers and skilled labor, FactoryFix enhances the efficiency of workforce management in the manufacturing sector.

Intellihot

Venture Round in 2021
Intellihot Green Technologies Inc. designs, manufactures, and assembles tankless water heater systems for residential and commercial applications in the United States. The company offers water heater systems in various models for installation in hospitality, multi-family, stadiums, restaurants, healthcare, education, retail, and manufacturing industries. It serves customers through a network of sales representatives, dealers, and wholesalers. The company was founded in 2005 and is based in Galesburg, Illinois.

Hologram

Series B in 2021
Hologram, Inc. specializes in cloud-based Internet connectivity solutions for Internet of Things (IoT) device management and network connectivity. The company offers a platform that enables makers, OEMs, and systems integrators to create devices that connect to the Internet using cellular technology. Hologram's Konekt cloud acts as a data broker and database for both cellular and non-cellular devices, facilitating the routing and storage of generated data. This enables users to build and maintain necessary infrastructure efficiently. Additionally, Hologram provides a machine-to-machine (M2M) Short Messaging Service (SMS) that supports notifications and system integrations for Internet-connected devices. Founded in 2013 and based in Chicago, Illinois, Hologram aims to simplify the process of building connected hardware, offering a flexible platform that supports scalability and instant connectivity without minimum requirements.

LightGuide

Series B in 2021
LightGuide Inc., uses proprietary software and high-powered projector systems to guide and confirm the completion of complex tasks. From assembly to quality control to training, LightGuide Inc. technology provides the visualization, traceability, and flexibility demanded by leading companies worldwide. Key industries include aerospace, agriculture, automotive, energy, heavy equipment, and medical.

LightGuide

Series B in 2021
LightGuide Inc., uses proprietary software and high-powered projector systems to guide and confirm the completion of complex tasks. From assembly to quality control to training, LightGuide Inc. technology provides the visualization, traceability, and flexibility demanded by leading companies worldwide. Key industries include aerospace, agriculture, automotive, energy, heavy equipment, and medical.

Textel

Series A in 2020
Textel provides a cloud-based texting platform for contact centers and businesses specifically designed to dramatically improve the customer experience, increase customer engagement, and improve contact center performance and efficiency. With nearly 800 customers across North America, Textel enables inbound/outbound SMS and MMS texts for organizations who need to connect with customers faster and more efficiently than traditional channels (email, voice, chat). Best of all, Textel users can enable their pre-existing numbers and integrate with industry-leading systems of record (Genesys, Nice inContact, and more).

RealityBLU

Venture Round in 2020
RealityBLU is a developer of a self-service design platform that empowers non-technical marketers to create and publish augmented reality (AR) experiences for AR-enabled devices. By offering an intuitive interface and streamlined workflow, RealityBLU removes the technical barriers typically associated with implementing and measuring AR content, enabling marketers to engage customers more effectively. The platform provides organizations with complete ownership and control over their AR assets, messaging, and strategies, allowing them to execute marketing campaigns without the need for coding skills. With over 420 users and a revenue growth of three times year-over-year, RealityBLU is establishing itself as a significant player in the B2B augmented reality space.

AdAdapted

Series A in 2020
AdAdapted, Inc. is a mobile advertising platform designed for consumer packaged goods (CPG) brands and agencies. Founded in 2012 and based in Ann Arbor, Michigan, the company provides a solution that allows CPG brands to directly engage with their target consumers through native, non-disruptive ads in shopping and planning apps. This approach enables brands to reach consumers at critical decision-making moments, helping to integrate products into digital shopping lists. The AdAdapted platform also tracks consumer behavior, revealing preferences, shopping tendencies, and planning habits, thus offering valuable insights to CPG brands and retailers.

ThirdPartyTrust

Seed Round in 2020
ThirdPartyTrust’s SaaS vendor management platform measures and monitors vendor risk and related cyber threats. Enterprises require their vendors (e.g. IT service providers, consultants and contractors) to create a ThirdPartyTrust profile, which includes security audits, insurance certificates and compliance documentation in a central repository. Vendors can share their ThirdPartyTrust profile with all their enterprise clients and CISO's and the C-Suite have the ability to manage and mitigate risk across the organization.

SkySpecs

Series C in 2019
SkySpecs automates the inspection, diagnostics, and maintenance of utility scale wind turbines with custom autonomous drones. The company develops an affordable form of energy, through the use of an automated drone inspection service and analytics platform that allows for repeatability, high-quality data, and safer inspections. SkySpecs was founded on 2012 and is based in Ann Arbor, Michigan.

Lumanu

Seed Round in 2019
Lumanu, Inc. is a digital marketing platform that connects companies with brand ambassadors, focusing on the creator economy. Founded in 2016 and headquartered in Oakland, California, with an additional office in Milwaukee, Wisconsin, Lumanu offers several solutions to facilitate collaboration between brands and creators. Its SocialCert solution enables influencers to share content and usage rights with marketers, while Content Manager allows for easy ingestion of influencer content. SmartBoost generates advertisements using influencer-created content, enhancing marketing effectiveness. Lumanu streamlines business transactions and payments for creators, ensuring they earn more and receive payments promptly. For businesses, the platform reduces friction in accessing exclusive creator intellectual property and first-party data, ultimately improving return on investment.

Blue Pillar

Series A in 2019
Blue Pillar, Inc. specializes in developing software solutions aimed at enhancing critical infrastructure resilience against power outages. The company provides a range of applications, including Aurora, a flexible platform for establishing a digital energy Internet of Things (IoT) network that connects and manages mechanical and electrical equipment. Additionally, Avise Insite offers real-time management of facility utilities such as water, gas, electric, and steam, while Avise Foresite serves as an enterprise solution for centralized facility and energy management across multiple locations. Blue Pillar's clientele spans various sectors, including healthcare, education, local and federal government, municipal utilities, and research institutions. Founded in 2006 and headquartered in Indianapolis, Indiana, Blue Pillar is dedicated to making Industrial IoT technologies more accessible and effective for its customers.

Realync

Seed Round in 2019
Realync Corp. provides a cloud-based video platform that connects agents and consumers to tour live virtual real estate properties. Its technology enables live videos, interactive virtual tours, and open houses, as well as pre-recorded videos for buyers and renters. The company was founded in 2012 and is based in Carmel, Indiana with an additional office in Chicago, Illinois.

AIQ Solutions

Series A in 2019
AIQ Solutions, Inc. designs and develops medical devices and software solutions for quantitative assessment of individual lesions associated with complex diseases. The company develops a clinical decision support (CDS) platform that analyzes medical imaging data to identify all of a cancer patient’s lesions and quantify how they have changed after treatment. It provides quantitative total bone imaging (QTBI), a device that provides insights into metastatic bone disease from prostate or breast cancer. In addition, it offers quantitative total marrow imaging (QTMI), a device that measure heterogeneity and treatment response of disease in marrow. The company caters to oncologists, radiologists, nuclear med physicians, and pharmaceutical companies. AIQ Solutions, Inc. was founded in 2015 and is based in Madison, Wisconsin.

enosiX

Series B in 2018
Enosix, Inc. designs and develops integration solutions between front end platforms and systems applications and products (SAP) system to unlock data and surface business process. The company offers solutions, such as Enosix Connect, integrate SAP/ERP system with cloud based application; Enosix Engage; Enosix Surface, provides real time access to SAP ERP data in sales force without middleware; Enosix Sales, read, create, and modify SAP data from sales cloud; Enosix Sales CPQ, leverage SAP data for pricing and quotes in Salesforce CPQ; and Enosix Sales VC, integrate SAP variant configuration with Salesforce in real time. Enosix, Inc. was incorporated in 2014 and is based in Cincinnati, Ohio.

FactoryFix

Debt Financing in 2018
FactoryFix is a platform based in Chicago, Illinois, that connects manufacturing companies with a network of qualified skilled workers, including engineers, machinists, and maintenance technicians. Founded in 2015, FactoryFix offers a managed marketplace that streamlines the hiring process for full-time and part-time positions, as well as contract and temporary roles. The platform not only provides access to vetted labor resources but also includes tools for generating job listings, vetting candidates, and offering salary insights. By facilitating connections between manufacturers and skilled labor, FactoryFix enhances the efficiency of workforce management in the manufacturing sector.

PegEx

Series B in 2018
PegEx, Inc. provides comprehensive environmental services tailored for small and medium-sized businesses across the United States. The company specializes in various sustainability solutions, addressing the environmental and energy challenges faced by industries such as retail, food service, hospitality, and government entities. PegEx offers a wide range of services, including waste disposal and recycling, used oil collection, and specialized waste management for pharmaceuticals, dental operations, and hazardous materials. The company also conducts mold and soil remediation and provides documentation and certification services. Utilizing its advanced, cloud-based PegEx Platform, PegEx enhances productivity, mitigates risks, and streamlines operations for waste management companies. Founded in 2012 and headquartered in Fitchburg, Wisconsin, PegEx is dedicated to managing hazardous waste data and processes efficiently.

SkySpecs

Series B in 2018
SkySpecs automates the inspection, diagnostics, and maintenance of utility scale wind turbines with custom autonomous drones. The company develops an affordable form of energy, through the use of an automated drone inspection service and analytics platform that allows for repeatability, high-quality data, and safer inspections. SkySpecs was founded on 2012 and is based in Ann Arbor, Michigan.

Hologram

Series A in 2017
Hologram, Inc. specializes in cloud-based Internet connectivity solutions for Internet of Things (IoT) device management and network connectivity. The company offers a platform that enables makers, OEMs, and systems integrators to create devices that connect to the Internet using cellular technology. Hologram's Konekt cloud acts as a data broker and database for both cellular and non-cellular devices, facilitating the routing and storage of generated data. This enables users to build and maintain necessary infrastructure efficiently. Additionally, Hologram provides a machine-to-machine (M2M) Short Messaging Service (SMS) that supports notifications and system integrations for Internet-connected devices. Founded in 2013 and based in Chicago, Illinois, Hologram aims to simplify the process of building connected hardware, offering a flexible platform that supports scalability and instant connectivity without minimum requirements.

OnKöl

Venture Round in 2016
OnKöl is a company that specializes in developing monitoring devices aimed at connecting elderly individuals and those with special needs to their families and caregivers. Founded in 2015 and based in Milwaukee, Wisconsin, OnKöl offers an emergency response tool that alerts designated family members and caregivers about vital signs, incoming and outgoing calls, and emergency situations. The device is designed to integrate with various home monitoring sensors, including motion detectors, door and window sensors, and smoke and carbon monoxide detectors, using Bluetooth or USB connections. This technology not only monitors health information but also facilitates communication through reminders and messages, allowing users to maintain independence while ensuring their safety and well-being.

OnKöl

Venture Round in 2014
OnKöl is a company that specializes in developing monitoring devices aimed at connecting elderly individuals and those with special needs to their families and caregivers. Founded in 2015 and based in Milwaukee, Wisconsin, OnKöl offers an emergency response tool that alerts designated family members and caregivers about vital signs, incoming and outgoing calls, and emergency situations. The device is designed to integrate with various home monitoring sensors, including motion detectors, door and window sensors, and smoke and carbon monoxide detectors, using Bluetooth or USB connections. This technology not only monitors health information but also facilitates communication through reminders and messages, allowing users to maintain independence while ensuring their safety and well-being.

CytoPherx

Series C in 2012
CytoPherx (formerly Nephrion) clinical stage medical device company addressing inflammation-based diseases and conditions. The company’s products are custom configurations of a proprietary selective cytopheresis-based inflammation modulating system.

HarQen

Series B in 2011
HarQen, Inc. offers Software as a Service tools designed to enhance and streamline recruitment processes. Founded in 2007 and based in Milwaukee, Wisconsin, the company provides a digital interview platform that includes features such as on-demand video and phone interviews, live video interviews, automated pre-screening, SMS candidate engagement, and language verification. Additionally, HarQen supports candidate profile creation and offers mobile applications for interviewing. Its solutions cater to various sectors, including staffing and placement, recruitment process outsourcing, healthcare, banking, insurance, education, and small businesses. Beyond recruitment, HarQen specializes in Intelligent Voice Services that capture and enrich conversations, facilitating improved collaboration and productivity. The company is also a founding member of the Hypervoice Consortium, which focuses on organizing and navigating voice conversations for enterprise social collaboration.

HarQen

Series A in 2010
HarQen, Inc. offers Software as a Service tools designed to enhance and streamline recruitment processes. Founded in 2007 and based in Milwaukee, Wisconsin, the company provides a digital interview platform that includes features such as on-demand video and phone interviews, live video interviews, automated pre-screening, SMS candidate engagement, and language verification. Additionally, HarQen supports candidate profile creation and offers mobile applications for interviewing. Its solutions cater to various sectors, including staffing and placement, recruitment process outsourcing, healthcare, banking, insurance, education, and small businesses. Beyond recruitment, HarQen specializes in Intelligent Voice Services that capture and enrich conversations, facilitating improved collaboration and productivity. The company is also a founding member of the Hypervoice Consortium, which focuses on organizing and navigating voice conversations for enterprise social collaboration.

VitalMedix

Venture Round in 2009
VitalMedix Inc. is a biopharmaceutical company based in Minneapolis, Minnesota, focused on the research and development of therapies aimed at sustaining cellular function and protecting cells during and after hemorrhagic shock. Founded in 2005, the company is known for developing Tamiasyn, a biopharmaceutical that may enable the human body to withstand significant blood loss for prolonged periods and help prevent organ damage during resuscitation. In addition to Tamiasyn, VitalMedix is also working on a treatment system specifically designed for hemorrhagic shock, which underscores its commitment to addressing critical medical challenges in this area.