Draper Triangle

What Draper Triangle does

Draper Triangle is a Pittsburgh-based early-stage venture capital firm founded in 1999 that invests in Midwest technology entrepreneurs across software, robotics, big data analytics, connected devices, and medical devices. The firm operates through three offices in Pittsburgh, Columbus, and Ann Arbor and is a member of the Draper Venture Network, a global collective of more than 100 investors with over $3 billion deployed across 500+ ventures, which provides deal sourcing, syndication, and strategic support capabilities beyond what a standalone sub-$300M fund manager could otherwise achieve. Over a 20+ year history, Draper Triangle has raised and fully deployed $205 million across three funds and built a portfolio spanning Autobooks (embedded payments), OnShift (healthcare labor management), Aware (enterprise collaboration governance), Locomation (autonomous trucking), RE2 Robotics (later acquired by Sarcos), Alviere (embedded finance), Stimdia Medical, Babel Health, Pixel Velocity, and others, with 13+ documented exits to strategic acquirers including Oracle, Fresenius, Medtronic, and Sarcos. Revenue is generated through conventional VC mechanics of management fees on committed capital and carried interest on exits; the team is lean at five investment professionals (three Managing Directors, a Principal, and a Venture Partner). The firm has rebranded to Magarac Venture Partners (MVP) while committing to continue operating as a first-stop investor for Midwest founders raising capital.

Name

Draper Triangle

Legal name

Draper Triangle

Website

https://drapertriangle.com

Company type

Private

Founded year

1999

Operating status

Operating

Headcount range

1–10 employees

Short description

Draper Triangle is a Pittsburgh-based early-stage venture capital firm founded in 1999 that invests in Midwest technology entrepreneurs across software, robotics, big data, and medical devices, deploying capital as a member of the Draper Venture Network.

Ownership category

akta.pro rank

Product category

Venture Capital

NAICS

All Other Financial Investment Activities (52399)

SIC

Investment Advice (6282)

akta.pro primary industry

Geography-Focused Venture Capital (Regional/Emerging Markets) (FSANAAAE)

akta.pro secondary industry

Sector-Focused Venture Capital (Vertical Specialists) (FSANAAAD)

Keywords

• Early stage venture capital
• Startup equity investment
• Midwest tech investing
• Venture capital funding
• Portfolio company building

Headquarters

HQ city

Pittsburgh

HQ country

United States

HQ region

North America

Offices3 records

Markets served

GTM type

B2B

Offering type

Services

Cost components

Personnel, Operations, Technology or R&D, Marketing or Sales, Others

Revenue model

1. Investment Returns: Returns from successful portfolio company exits including acquisitions and IPOs. Historical exits include TOA Technologies (acquired by Oracle), Renal Solutions (acquired by Fresenius), BodyMedia (acquired by Jawbone), CardioInsight (acquired by Medtronic), Aethon (acquired by ST Engineering), Carnegie Learning (acquired by Apollo Group), BitArmor (acquired by Trustwave), ClubCom (acquired by Precor), Directworks (acquired by Ivalua), Acrobatiq (acquired by VitalSource), Amplifinity (acquired by Impartner), and RE2 (acquired by Sarcos).

Go-to-market motion1 record

Distribution channels1 record

Marketing channels5 records

Core offering

Draper Triangle is an early-stage venture capital firm that invests equity capital from its funds into technology entrepreneurs based in the U.S. Midwest, focused on high gross-margin businesses in software, robotics, big data analytics, connected devices, and medical devices. The firm provides portfolio companies with strategic guidance, board involvement, operational expertise, and follow-on investment support, while sourcing opportunities through the global Draper Venture Network.

Product overview

Draper Triangle is an early-stage venture capital firm that invests in Midwest entrepreneurs across software, robotics, and medical devices. The firm manages a portfolio of companies offering diverse technology products and services. Core portfolio products include: Autobooks (integrated payments and accounting platform for small businesses); OnShift (SaaS labor management and scheduling for healthcare); Aware (AI-driven collaboration governance platform); ContainerShip (hybrid-cloud PaaS for container deployment); Thread (sustainable supply chain fabric platform); Alviere HIVE (embedded finance platform); Babel Health (risk adjustment SaaS for health plans); Pixel Velocity (IoT sensor analytics and edge computing); RE2 Robotics (intelligent mobile manipulation systems); Ikos (property management software); and Amplifinity (referral amplification platform).

Differentiator

Problem solved

Functional benefit

Products and services

• Draper Triangle Ventures Fund
• Portfolio Company Advisory and Board Support

Quantifiable outcome

• Successfully exited 13+ portfolio companies including major acquisitions by Oracle, Fresenius, Medtronic, and others

Named customers5 records

Segments1 record

Ideal customer profiles1 record

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

AI capability17 records

Partnerships

Two partnerships are on record, tiered core and major.

• Draper Venture NetworkcoreStrategic or Co-development PartnerDraper Triangle is a proud member of the Draper Venture Network, a robust venture collective bringing together experienced investors and innovative entrepreneurs from around the globe. Through the network, members can leverage the collective intelligence of 100+ investors with more than $3B invested in 500+ ventures.
• CumminsmajorStrategic or Co-development PartnerLocomation announced comprehensive collaboration with Cummins for joint testing and integration of Cummins Powertrain Systems in trucks equipped with Locomation's autonomous driving technology. Locomation's proprietary autonomy software integrated with Cummins ADS Powertrain System for optimized powertrain control.

Scale indicators3 records

Recent moves7 records

Expansion highlights4 records

Others

• InvestMidwest: Regional capital formation network connecting Midwest VCs and growth equity investors. Draper Triangle is a participating member, making this a peer ecosystem partner rather than direct competitor.

Regional players

• Innovation Works: Pittsburgh, PA-based early-stage venture firm and the most active seed-stage investor in the Southwest Pennsylvania region. Direct peer with significant overlap in robotics, AI, and CMU-anchored deal flow, where Mike Stubler served as Immediate Past Chair of the Board.
• Allos Ventures: Indianapolis, IN-based venture capital firm investing in early-stage B2B software companies in the Midwest. Comparable thesis and stage, with documented co-investment relationship with Draper Triangle on the Aware Series C.
• Chicago Ventures: Chicago, IL-based early-stage venture capital firm backing Midwest entrepreneurs at seed and Series A stages. Comparable thesis on investing in regionally-rooted founders building transformational companies.
• JumpStart Ventures: Cleveland, OH-based early-stage venture capital firm focused on high-growth technology companies in Northeast Ohio. Directly comparable as a Midwest-focused early-stage VC and co-investor with Draper Triangle on the Aware Series C round.
• Rev1 Ventures: Columbus, OH-based early-stage venture firm and startup accelerator that invests in Midwest technology companies. Directly comparable to Draper Triangle as a regional Midwest VC with sector overlap in software, healthcare, and connected devices, and a co-investor on the Aware Series C.
• Hyde Park Venture Partners: Chicago, IL-based early-stage venture capital firm investing in B2B software and tech-enabled services across the Midwest. Comparable as a Midwest early-stage VC with similar stage, sector focus, and institutional LP base.

Broad incumbents

• Baird Capital: Midwest-based private equity and venture capital arm of Robert W. Baird, with venture stage participation. Comparable as a co-investor in the Autobooks Series C, with broader portfolio breadth than Draper Triangle but overlapping early-stage tech focus.
• Plug and Play Ventures: Global early-stage investor and accelerator with Midwest presence. Comparable as an early-stage tech investor in adjacent categories (fintech, insurtech, healthtech) where Draper Triangle portfolio companies (Autobooks, Alviere) operate.

Direct peers

• Draper Associates: Tim Draper-led Silicon Valley venture firm that anchors the broader Draper Venture Network. Sister/parent fund to Draper Triangle within the Draper Venture Network, with shared deal sourcing and a comparable early-stage technology investment thesis.

Market position

Strengths4 records

Weaknesses4 records

Competitive moat4 records

Key risks5 records

Key highlights6 records

Customer concentration

• Xx.com/DraperTriangle
• Facebookfacebook.com/drapertriangle
• LinkedInlinkedin.com/company/draper-triangle-ventures

Revenue estimate

Valuation estimate

Number of profiles

Profiles5 records

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments73 records

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Draper Triangle