Ohio’s Leading VCs: Where to Find Funding and Support for Your Startup
Ohio’s venture capital scene is buzzing with opportunity, and it’s not just the usual suspects. From Columbus to Cincinnati, a new wave of VCs, accelerators, and university-backed programs are fueling innovation across the state.
In this guide, we’ll introduce you to the top venture capital firms actively investing in Ohio, break down what they’re looking for, and show you how to tap into the local resources that can help your company scale.
Top VCs in Ohio
CincyTech
About: CincyTech is one of the Midwest's most active seed funds, investing in disruptive human health and technology companies in Ohio.
Sweetspot check size: $ 1M
Traction metrics requirements: Data points to validate some market traction
Rev1 Ventures
About: Rev1 Ventures is an investor startup studio that combines capital and strategic services to help startups scale and corporates innovate.
Sweetspot check size: $ 500K
Lightship Capital
About: Lightship Capital is a venture capital fund that is driving innovation and investment in the Midwest.
Sweetspot check size: $ 500K
Traction metrics requirements: Post Revenue
Thesis: Inclusion is innovation.
Refinery Ventures
About: Refinery Ventures focuses on investing in information technology, digital health, and human capital technology sectors.
Sweetspot check size: $ 2M
Traction metrics requirements: We are looking for: Leaders with a clear vision and strong values Companies with hypergrowth potential and ambition Technology that will transform an experience, or an entire industry
Thesis: We invest in early scale companies – bridging the gap and mentoring our teams between post-seed and Series A funding.
H Venture Partners
About: H Venture Partners is an early-stage fund that invests in consumer brands.
Sweetspot check size: $ 500K
Thesis: H Venture Partners invests in early stage science-based consumer brands.
Maywic Select Investments
About: Maywic is a venture capital firm that invests in growth stage companies that promote healthy lifestyles, wellness, and well-being.
Sweetspot check size: $ 2M
Traction metrics requirements: At least $5MM of revenue
Heartland Ventures
About: Heartland Ventures is a value add venture investor that connects high-growth startups with new customers in the Midwest.
Sweetspot check size: $ 500K
Traction metrics requirements: Approaching or at revenue
Thesis: Connecting coastal tech to corporations in the heartland
Mutual Capital Partners
Sweetspot check size: $ 3M
Traction metrics requirements: Post-revenue
Ohio Innovation Fund
About: The Ohio Innovation Fund is a venture capital firm focused on providing venture capital and expertise to early stage companies.
Sweetspot check size: $ 1.50M
Traction metrics requirements: OIF’s areas of expertise include SaaS, cyber security, artificial intelligence/machine learning, medtech/pharma, and advanced manufacturing/IOT. We look for companies that can fundamentally transform industries and create new ones. Our typical investments include companies with initial revenue traction of approximately $1 million ARR, but we’re also open to looking at pre-revenue opportunities if they are game changers. We typically invest in 1-2 traditionally seed stage deals per year. We’re looking for the best of the best.
Thesis: Ohio Innovation Fund partners with bold, disruptive founders of high-growth startups based in Ohio and throughout the Midwest, combining proven Silicon Valley expertise with Midwest grit. We invest in the top 2-3 percent of deals in Ohio, and our ideal investment includes a 10 percent ownership in the company and a board seat. OIF works in the trenches with these entrepreneurs to build their companies, encouraging them to think bigger and grow quicker.
JumpStart
About: JumpStart Inc. is an Ohio-based non-profit organization that offers development assistance to entrepreneurs in Northeast Ohio.
Thesis: We invest in people. We look for entrepreneurs who demonstrate excellence in all that they do, have skin in the game and the ambition to grow aggressively. We’re also focused on funding diverse entrepreneurs to help us build a stronger portfolio and a stronger community.
Local Resources and Support for Ohio Startups
Ohio’s startup ecosystem is powered by a network of incubators, accelerators, university and programs. These resources support founders at every stage, from ideation to scaling and commercialization.
Incubators and Accelerators
- JumpStart: Based in Cleveland, JumpStart is one of Ohio’s most influential startup support organizations. Since 2003, it has provided funding, mentorship, and business support to thousands of entrepreneurs, with a focus on diverse and high-growth startups. JumpStart offers direct investment, intensive accelerator programs, and access to a broad network of advisors and investors. In 2024, JumpStart-supported companies generated over $1.7 billion in economic impact for Ohio.
- Entrepreneurs’ Center: The Entrepreneurs’ Center in Dayton is a leading hub for innovation, offering business mentoring, venture capital connections, and specialized programs for tech startups. It plays a key role in Dayton’s growing reputation as a center for aerospace, defense, and advanced manufacturing innovation.
- Lightship Foundation: Headquartered in Cincinnati, Lightship Foundation is dedicated to supporting underrepresented founders. Through its accelerator programs, Lightship provides capital, mentorship, and access to a national network of investors and partners. The foundation is recognized for its commitment to diversity, equity, and inclusion in the Midwest startup ecosystem.
- Rev1 Ventures: Offers the Investor Startup Studio, providing investment, strategic guidance, and connections to corporate partners.
- Cintrifuse: Connects startups with resources, coworking space, and a network of mentors and investors.
- Youngstown Business Incubator: Specializes in tech and advanced manufacturing startups, with a strong focus on 3D printing and digital innovation.
- The Brandery: A consumer brand-focused accelerator offering funding, mentorship, and office space.
- LaunchHouse: Provides a collaborative workspace, accelerator programs, and access to a wide investor network.
University Programs
- Ohio State University – Keenan Center for Entrepreneurship: The Keenan Center runs the Accelerator Awards, which provide up to $100,000 (and up to $150,000 for biomedical projects) to help commercialize university innovations. The program is funded by the Ohio Third Frontier Technology Validation and Start-up Fund and is designed to bridge the gap between research and market-ready startups.
- Case Western Reserve University – Veale Institute for Entrepreneurship: Offers mentorship, funding, and commercialization support.
- University of Cincinnati – 1819 Innovation Hub: Provides resources for student and faculty startups, including access to corporate partners and prototyping facilities.
The Ohio Startup Ecosystem: Trends and Opportunities
Sector Focus: Where Ohio Startups Are Leading
Ohio’s startup scene is particularly strong in several high-growth sectors:
- Healthcare and Biotech: With world-class medical institutions and a robust network of health-focused accelerators, Ohio is a leader in healthcare innovation. Startups in digital health, medical devices, and biotech are thriving, supported by organizations like JumpStart.
- Manufacturing Technology and Advanced Materials: Building on its industrial legacy, Ohio is at the forefront of advanced manufacturing, additive manufacturing (3D printing), and materials science, especially in cities like Youngstown and Dayton.
- Fintech and Insurtech: Columbus, home to major insurance and financial services companies, has become a magnet for fintech and insurtech startups, with notable exits like Root Insurance.
- Clean Energy and Sustainability: Startups in clean energy, agritech, and environmental tech are gaining traction, supported by state initiatives and university research programs.
- SaaS and Enterprise Tech: Software startups, particularly those focused on B2B SaaS, are a major driver of Ohio’s tech economy, with Columbus and Cincinnati leading the way.
Funding Growth and Notable Exits
In 2024, Ohio startups and small businesses generated over $1.7 billion in economic output, according to JumpStart’s latest economic impact report. This figure includes direct capital raised, revenue generated, and the broader economic ripple effect of entrepreneurial activity across the state
Notable recent exits and success stories include:
- Root Insurance: Went public on NASDAQ, becoming one of Ohio’s first tech unicorns.
- Olive: Raised over $800 million and became a leader in healthcare automation.
- CoverMyMeds: Acquired by McKesson for $1.1 billion, highlighting the region’s strength in healthtech.
Key Cities and Innovation Hubs
Ohio’s startup activity is concentrated in several key cities, each with its own strengths and resources:
- Columbus: The state’s capital is a powerhouse for SaaS, fintech, and healthtech. Home to The Ohio State University, Rev1 Ventures, and a growing number of accelerators, Columbus is often cited as one of the fastest-growing tech cities in the Midwest.
- Cincinnati: Known for its consumer brands and marketing innovation, Cincinnati boasts resources like Cintrifuse, The Brandery, and a strong network of corporate partners (e.g., Procter & Gamble).
- Cleveland: A leader in healthcare and biotech, Cleveland is anchored by the Cleveland Clinic, JumpStart, and BioEnterprise, making it a hub for medical innovation.
- Dayton: With a focus on aerospace, defense, and advanced manufacturing, Dayton’s innovation ecosystem is supported by The Entrepreneurs Center and the Air Force Research Laboratory.
- Youngstown: Renowned for its leadership in additive manufacturing and 3D printing, Youngstown is home to the Youngstown Business Incubator, which has helped revitalize the city’s economy through tech-driven startups.
The Role of Universities and State Initiatives
Ohio’s universities are central to the state’s innovation engine. The Ohio State University, Case Western Reserve, and the University of Cincinnati are leaders in tech transfer, research commercialization, and talent development. State-backed initiatives like JobsOhio and Ohio Third Frontier provide grants, tax incentives, and direct investment to high-potential startups, further accelerating growth.
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