Capital Midwest Fund (CMF) is a Mequon, Wisconsin-based venture capital firm that invests in revenue-stage B2B technology, industrial, manufacturing, healthcare, and life-science companies across the Central United States. The firm typically invests in companies with $1–2 million in annual recurring revenue and helps build them toward $10 million in revenue.
Average disclosed round size is $13.3M (across 23 rounds with reported amounts).
Portfolio
19
Fund Size
—
Top Stage
Series A
Last 12 Mo
0
Team
Portfolio Breakdown
Stage Distribution
Sector Distribution
Investment Activity
DealsAvg Round Size
Portfolio
23 investments
| Company | Round | Amount | Date |
|---|---|---|---|
 Sprocket Security | Series A | $8M | Mar 2024 |
| Sprocket Security | Series A | $8M | Jan 2024 |
 Valid8 | Series A | $8.5M | Jan 2024 |
 Valid8 Financial | Series A | $8.5M | Nov 2023 |
 Elate | Series A | $4.9M | Mar 2023 |
 Frayt Technologies, Inc. | Series A | $7M | Jan 2023 |
 BetterYou | Series A | $6M | Jan 2023 |
| Valid8 | Series A | $8.5M | Jan 2023 |
 LightGuide | Series B | $15M | Jul 2021 |
 Health Scholars | Seed | $17M | Jan 2020 |
 ThirdPartyTrust | Unknown | $4.5M | Jan 2020 |
| Health Scholars | Series B | $17M | Jan 2020 |
 SkySpecs | Series C | $17M | Dec 2019 |
 LiquidCool Solutions | Unknown | $18.5M | Oct 2013 |
| PProNai | Series C | $12M | Jan 2012 |
 Kidsy | Pre-Seed | $1M | — |
 FactoryFix | Series A | $10M | — |
 ServiceUp | Series B | $55M | — |
| KKloopify | Seed | $1.5M | — |
| VVitalMedix | Unknown | $1M | — |
 Partum Health | Seed | $3.1M | — |
 AIQ Solutions | Unknown | $14M | — |
| PProNai | Series D | $59.5M | — |
Top Co-Investors
Touchdown Ventures3 shared
First Trust Capital Partners3 shared
Silverton Partners3 shared
Everywhere Ventures2 shared
Techstars2 shared
Blueprint Equity2 shared
OSF HealthCare2 shared
Service Provider Capital2 shared
Adams Street Partners2 shared
Trucks Venture Capital1 shared
Impellent Ventures1 shared
Initialized Capital1 shared
Hustle Fund1 shared
Wave Capital1 shared
Sierra Ventures1 shared
M251 shared
Pritzker Group Venture Capital1 shared
Elevate Ventures1 shared
HPA1 shared
Flywheel Fund1 shared
Last updated: 20 October 2026