Gateway Capital announces first close of $25M Fund II

Gateway Capital Partners held a first close for its $25 million Fund II, allowing the fund to start investing.

The firm did not disclose the exact amount of the first close but began raising the fund in mid last year.

Fund II will write average checks of $500,000–$600,000 and will be industry-agnostic with a bias toward Midwest supply chain, logistics, and manufacturing AI.

Founder Dana Guthrie aims to back at least 20 companies from the fund; Gateway Capital previously raised a $13 million Fund I in 2020.