Gateway Capital secures first close of $25M Fund II

Gateway Capital Partners, the investment firm established by Dana Guthrie, has completed the first close of its second fund, which has a target size of $25 million. The Milwaukee-based firm confirmed the development earlier this week but did not disclose the exact amount raised in this initial close.

Reaching the first close allows Fund II to begin deploying capital and making investments, marking an important step forward in the firm’s fundraising process. Guthrie noted that fundraising efforts for the second fund began in the middle of last year.

For Fund II, Gateway Capital plans to write checks averaging $500,000 to $600,000. The firm intends to maintain a broad investment approach across industries, though it will place particular emphasis on sectors in the Midwest that are seen as ready for transformation. These include areas such as supply chain and logistics, as well as manufacturing technologies driven by artificial intelligence.

Guthrie indicated that the firm aims to invest in at least 20 companies through this fund, continuing its strategy of backing early-stage startups with growth potential in underrepresented markets.

Gateway Capital Partners was founded in 2020 and previously raised a $13 million for Fund I at launch. With Fund II underway, the firm is expanding its portfolio and strengthening its presence in regions and industries it sees as poised for innovation.