Heartland Ventures Launches $60 Million Fund III to Power Reindustrialization, Backed by Network of Midwestern Business Owner-Operators
- Heartland Ventures to surpass $140M in capital, with Fund III specifically targeting early stage industrial tech startups.
- A unique LP network of hundreds of Midwest industrial "owner-operators" provides both deep diligence validation and immediate commercial sales for portfolio startups.
- Heartland Ventures Fund III coincides with America’s focus on reindustrialization.
COLUMBUS, Ohio, Jan. 21, 2026 (GLOBE NEWSWIRE) -- Heartland Ventures, a venture capital firm accelerating the reindustrialization of America, today announced the first close of its third fund, Heartland Ventures Fund III. The $60 million fund will bring Heartland Ventures’ total capital raised across all funds and investment vehicles to over $140 million.
Heartland Ventures LPs Are Midwest Industrial Owner-Operators
Unlike traditional venture funds, Heartland Ventures’ LPs don’t come from the traditional pool of institutional and high net worth investors, but instead from a network of nearly 1,000 Midwestern industrial owner-operators across industries, including manufacturing, construction, logistics, and real estate. This community of owner-operators provides Heartland with a distinct edge for delivering value to both portfolio companies and LPs:
- Customer-Led Diligence: The Heartland Ventures network helps stress-test assumptions and validates product-market fit before investments are made.
- Rapid Revenue Growth: Heartland Ventures facilitates commercial introductions, often securing a startup’s most valuable early customers from within the firm’s network.
- Early Tech Exposure: Heartland Ventures proactively introduces startups to owner-operators, giving them advantageous early access to transformative technologies.
“Heartland Ventures has a pulse on innovation in our space,” said JR Renbarger, Vice President of Capital Management at Shiel Sexton, an LP in multiple Heartland Ventures funds. “They help direct us to the solutions that will have real and sustained impact on our industry. This gives us a huge leg up over our competition.”
Heartland Ventures Is Well-Positioned for the Reindustrialization of America
Heartland Ventures has spent the last decade building its network of hundreds of industrial business owner-operators across the region, with recent expansions into Chicago, Cleveland, Louisville, and Milwaukee. And now, with the rise of AI and the emerging reindustrialization of America, the timing is perfect for Heartland Ventures Fund III.
“The customers and insights startups require are right here in the heartland region,” said Max Brickman, Managing Director at Heartland Ventures. “Heartland Ventures is stepping up to help America’s legacy industries identify the technologies that will allow these companies to thrive for the next fifty years. And to the next generation of industrial tech startup founders: We have the customer network and the financial strength to help your startups thrive.”
Heartland Ventures’ Track Record
Since 2017, Heartland Ventures has invested in 25 portfolio companies, focusing on Pre-seed, Seed, and Series A stages with check sizes typically ranging from $2 million to $3 million. The firm has seen several successful acquisitions, most recently the September 2025 acquisition of Firmus AI.
For founders, Heartland Ventures represents more than just capital; it represents a direct pipeline to revenue. Ryan Joyce, Founder/CEO of GenLogs, a Heartland Ventures portfolio company, noted that the firm’s ability to bring startups early customers is a game-changer:
“Heartland Ventures didn't just write a check; they opened doors to the exact industrial buyers we had been trying to reach for months. They are the ultimate bridge between tech and industry owner-operators,” said Joyce.
Key Facts
- Announcement Date: January 21, 2026
- Firm: Heartland Ventures
- Fund: Heartland Ventures Fund III (First close)
- Target Size: $60 million
- Total Capital Across Investment Vehicles: $140 million+
- LP Base: Comes from a network of nearly 1,000 Midwestern industrial owner-operators
- LP Industries: Manufacturing, Construction, Logistics, and Real Estate
- Investment Focus: Seed and Series A ($2 million to $3 million check size)
- Core Markets: Columbus, OH (headquarters); Cincinnati, OH; Cleveland, OH; Indianapolis, IN; Chicago, IL; Milwaukee, WI; Louisville, KY; and South Bend, IN,
About Heartland Ventures
Heartland Ventures is an early-stage venture capital firm that connects the world’s most innovative technology companies with the Midwest’s largest industrial operators. By focusing on manufacturing, construction, logistics, and real estate, Heartland creates a unique ecosystem where startups get access to high-value customers and industrial firms get early access to the tech that will define their future. To date, Heartland has invested in 25 early-stage companies delivering transformative solutions to businesses across the Midwest.
For more information, visit www.heartlandvc.com.
Contact:
Josh Inglis
josh@propllr.com
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