Heartland Ventures
Heartland Ventures is a Columbus, Ohio-based venture capital and private equity firm founded in 2016 that connects early-stage industrial technology startups with a proprietary network of 800+ Midwest industrial operators, providing both capital ($500K-$30M) and built-in early-adopter customers.
- Company typePrivate
- Founded2016
- HeadquartersColumbus, United States
- Headcount11–50
- GTM typeB2B
- OfferingServices
What Heartland Ventures does
Heartland Ventures is a private venture capital and private equity firm headquartered in Columbus, Ohio, founded in 2016 by Max Brickman. The firm operates a dual-platform structure: (1) Heartland Ventures Venture Capital, which invests $500K-$3M in Pre-Seed through Series A technology startups in manufacturing, logistics, real estate, and construction; and (2) Heartland Growth Partners, a private equity arm deploying $5-30M equity into family-owned businesses in the lower middle market ($10M+ revenue, <$100M enterprise value). The firm's distinguishing asset is its 'Capital + Customer Infusion' model, which leverages a proprietary network of 800+ Midwest industrial operators to provide portfolio companies with built-in early-adopter customers, addressing a structural gap where coastal startups lack access to industrial buyers and Midwest industrial companies face labor shortages and technology adoption challenges.
Heartland is backed by nearly 1,000 Midwestern industrial owners who participate as LPs, providing both capital and customer commitments. The firm has raised over $140 million in cumulative capital across three funds (Fund I fully invested, Fund II active, Fund III launched January 2026 at $60M first close). Portfolio activity spans 20+ investments, with active deals including Gather AI ($40M Series B led by Heartland), GenLogs ($14.6M Series A), Pear Commerce ($10M Series A), and Parspec ($20M Series A). Realized exits include SPIDR Tech (acquired by Versaterm Public Safety in 2021) and Mimir Classroom (acquired by HackerRank in 2019). The firm maintains offices across six cities: Columbus (HQ), Cincinnati, Indianapolis, Louisville, New York City, and South Bend, and operates with a 14+ person team structured across venture capital, private equity, community, and operations functions.
The firm's revenue model relies on conventional VC/PE economics: management fees on committed capital (typically 1.5-2.5% annually) and carried interest on realizations. Customer concentration risk is structurally low given the diversified LP base of ~1,000 industrial owners, though portfolio deal-flow is geographically concentrated in the Midwest. Distribution is the firm's primary moat: portfolio companies gain direct introductions to decision-makers within the 800+ operator network, a capability that competitors cannot easily replicate without comparable community infrastructure. The firm does not develop proprietary technology; its competitive advantage rests entirely on network relationships, deal-sourcing methodology, and the structural alignment between its LP base and portfolio customers.
Heartland Ventures firmographics
Firmographics- Name
- Heartland Ventures
- Legal name
- Heartland Ventures
- Website
- https://heartlandvc.com
- Company type
- Private
- Founded year
- 2016
- Operating status
- Operating
- Headcount range
- 11–50 employees
- Short description
- Heartland Ventures is a Columbus, Ohio-based venture capital and private equity firm founded in 2016 that connects early-stage industrial technology startups with a proprietary network of 800+ Midwest industrial operators, providing both capital ($500K-$30M) and built-in early-adopter customers.
- Ownership category
- akta.pro rank
Heartland Ventures industry classification
Industry- Product category
- Venture Capital and Private Equity Investment
- NAICS
- Portfolio Management and Investment Advice (52394)
- SIC
- Investment Advice (6282)
- akta.pro primary industry
- Sector-Focused Venture Capital (Vertical Specialists) (FSANAAAD)
- akta.pro secondary industry
- Geography-Specialist Buyout (Regional/Country-Focused) (FSANABAF)
Keywords
Where Heartland Ventures is headquartered
LocationHeadquarters
- HQ city
- Columbus
- HQ country
- United States
- HQ region
- North America
Offices6 records
Markets served
Heartland Ventures business model
Business model- GTM type
- B2B
- Offering type
- Services
- Cost components
- Personnel, Operations, Marketing or Sales, Technology or R&D
Revenue model
- Venture Capital Management: Heartland Ventures generates revenue through management fees and carried interest from its venture capital funds (Fund I, Fund II, Fund III). The firm invests in early-stage startups in manufacturing, logistics, real estate, and construction, connecting them with industrial customers for validation and revenue acceleration.
- Private Equity (Heartland Growth Partners): Heartland Growth Partners invests in family-owned businesses across the lower middle market ($5–30M equity investment, $10M+ revenue, <$100M enterprise value), generating returns through operational improvements and strategic support leveraging the Heartland network.
Pricing tiers
| Model | Billing | Price |
|---|---|---|
| Other | Multi-year contract | Venture Capital: Pre-Seed, Seed, and Series A rounds |
| Other | Multi-year contract | Private Equity: Lower middle market family-owned businesses |
Go-to-market motion1 record
Distribution channels1 record
Marketing channels1 record
Heartland Ventures product offering
Product offeringCore offering
Heartland Ventures is a private venture capital and private equity firm that invests capital in early-stage technology startups and family-owned lower middle market businesses across the U.S. Midwest. Its Venture Capital arm deploys $500K–$3M into Pre-Seed through Series A startups in manufacturing, logistics, real estate, and construction, while its Private Equity arm (Heartland Growth Partners) deploys $5–$30M equity into family-owned businesses with $10M+ revenue and under $100M enterprise value. The firm's distinctive value lies in connecting its portfolio companies to a proprietary network of 800+ Midwest industrial operators who serve as built-in early-adopter customers.
Product overview
Heartland Ventures operates as a dual-platform investment firm consisting of two distinct products: (1) Heartland Ventures Venture Capital - which connects early-stage technology startups with a network of 800+ industrial operators across manufacturing, logistics, construction, and real estate for customer validation and revenue acceleration; and (2) Heartland Growth Partners - a private equity arm targeting family-owned businesses in the lower middle market with investments of $5-30M. Together, these platforms leverage a unique 'owner-operator' model backed by nearly 1,000 Midwestern industrial investors to bridge coastal technology innovation with Heartland industrial buyers. The firm has raised over $140M in total capital across three funds.
Differentiator
Problem solved
Functional benefit
Products and services
- Heartland Ventures Venture Capital Venture capital arm that connects early-stage startups (Pre-Seed through Series A) with industrial operators across manufacturing, logistics, real estate, and construction. Invests $500K-$3M per round, focusing on technology solutions addressing legacy industry challenges, and provides customer introductions through Heartland's network of 800+ industrial operators.
- Heartland Growth Partners (Private Equity) Private equity arm investing in family-owned businesses across the lower middle market with enterprise values under $100M. Provides equity investments of $5-30M to companies with $10M+ revenue, focusing on Midwest-based businesses in industrial services, niche manufacturing, and distribution sectors. Leverages the Heartland network of Midwest-based business owners for industry expertise and strategic support.
- Industrial Operator Network A network of 800+ Midwest industrial operators and business owners that serves as built-in customers for portfolio companies. The network represents over $100B in potential revenue pipeline and $750M in enterprise value, enabling portfolio companies to validate products and accelerate revenue through early-adopter relationships with industrial buyers.
Quantifiable outcome
- Portfolio companies introduced to all initial customers, enabling growth from zero to $1M ARR
- +1 more outcomes
Companies that use Heartland Ventures
Customer profileNamed customers2 records
Segments3 records
Ideal customer profiles3 records
Heartland Ventures technology and API
TechnologyTechnology focussed No
API detail
- Has API
- No
- API docs
- API detail
Core technology
AI maturity
App detail
Heartland Ventures partnerships and signals
Strategic signalScale indicators6 records
Recent moves7 records
Expansion highlights6 records
Heartland Ventures competitors and assessment
Company assessmentDirect peers
- Dynamo Ventures: Early-stage VC firm specializing in supply chain, logistics, and mobility startups; directly comparable to Heartland's logistics and industrial-tech investing vertical and overlapping portfolio category.
- Builders VC: Early-stage VC firm investing in construction, real estate, and industrial tech startups; overlaps with Heartland's construction-tech and real-estate-tech investment verticals and target founder profile.
- Drive Capital: Columbus, Ohio-based venture capital firm focused on startups headquartered outside Silicon Valley, with a similar Midwest-rooted thesis; one of Heartland's closest direct geographic and sector competitors for industrial tech deals.
- Rise of the Rest (Revolution): Steve Case's geographic-focused seed VC investing in startups outside of coastal hubs; operates with a similar thesis of connecting startups to non-coastal customer networks and is the most directly comparable venture firm to Heartland's regional-industrial model.
- Operator Ventures: Industrial-tech-focused seed and Series A VC investing in factory automation, manufacturing software, and supply chain; competes with Heartland for industrial-tech founders and overlapping Midwest/coastal LP relationships.
- Work-Bench: Enterprise-focused seed-stage VC with a strong enterprise-customer network and community-led model; comparable in gtm_motion (community-led, customer introductions) and stage (seed/Series A), though concentrated on enterprise SaaS rather than industrial verticals.
- 1517 Fund: Seed-stage VC backing young founders outside traditional tech hubs; directly comparable to Heartland's geographic-skeptic thesis and pre-seed/seed stage focus on non-coastal founders.
- Prelude Ventures: Early-stage industrial-tech and climate-tech VC investing across manufacturing, energy, and supply chain; closely comparable in sector mandate (industrial verticals) and stage (pre-seed through Series A) to Heartland's venture arm.
- Tandem Capital: Lower-middle-market private equity firm investing in family-owned and founder-led businesses across the Midwest; directly comparable to Heartland Growth Partners on check size, geography, and target-deal profile.
Broad incumbents
- Revolution: Steve Case's broader investment platform (Rise of the Rest seed, Revolution Growth, and others); broader incumbent with overlapping geographic mandate and larger fund sizes that compete for the same Midwest industrial-tech deal flow.
Market position
Strengths5 records
Weaknesses5 records
Competitive moat4 records
Key risks6 records
Key highlights6 records
Customer concentration
Heartland Ventures social profiles
Digital presenceHeartland Ventures financial estimates
Financial estimateRevenue estimate
Valuation estimate
Heartland Ventures leadership team
Management profileNumber of profiles
Profiles14 records
Heartland Ventures funding detail
Funding detailFunding overview
Funding rounds
Investors
Funding detail is available on the Subscription and Enterprise plan.Contact sales →
Heartland Ventures M&A and investment
M&A and investmentM&A
Investments31 records
M&A and investment is available on the Subscription and Enterprise plan.Contact sales →
Frequently asked questions about Heartland Ventures
What does Heartland Ventures do?
Heartland Ventures is a private venture capital and private equity firm that invests capital in early-stage technology startups and family-owned lower middle market businesses across the U.S. Midwest. Its Venture Capital arm deploys $500K–$3M into Pre-Seed through Series A startups in manufacturing, logistics, real estate, and construction, while its Private Equity arm (Heartland Growth Partners) deploys $5–$30M equity into family-owned businesses with $10M+ revenue and under $100M enterprise value. The firm's distinctive value lies in connecting its portfolio companies to a proprietary network of 800+ Midwest industrial operators who serve as built-in early-adopter customers.
Is Heartland Ventures a public or private company?
Heartland Ventures is a private company. It is classified as venture growth investor backed and is currently operating.
When was Heartland Ventures founded?
Heartland Ventures was founded in 2016. It employs 11 to 50 people.
Where is Heartland Ventures based?
Heartland Ventures is headquartered in Columbus, United States, in the North America region.
How does Heartland Ventures make money?
Two revenue lines are on record. Venture Capital Management is the primary driver. The others are private Equity (Heartland Growth Partners).
Who are Heartland Ventures's main competitors?
Direct peers on record are Dynamo Ventures, Builders VC, Drive Capital, Rise of the Rest (Revolution), Operator Ventures, Work-Bench, 1517 Fund, Prelude Ventures and Tandem Capital. Revolution is listed as a broad incumbent.
Does Heartland Ventures have an API?
No public API is recorded for Heartland Ventures.
What industry is Heartland Ventures in?
Heartland Ventures's product category is Venture Capital and Private Equity Investment. Its primary akta.pro industry code is FSANAAAD, Sector-Focused Venture Capital (Vertical Specialists), with a secondary code of FSANABAF, Geography-Specialist Buyout (Regional/Country-Focused). Its NAICS code is 52394 and its SIC code is 6282.