Launching Magarac Venture Partners

MVP is focused on being the “Most Valuable Partner” to Extraordinary Entrepreneurs Across the Midwest

At MVP, we are committed to partnering with passionate entrepreneurs as they build world class businesses. We believe that while genius may be evenly distributed, opportunity is not. This belief has inspired us to launch MVP to support bold, visionary founders building their dreams from cities often overlooked by coastal venture capital firms. We wake up everyday inspired to support founders on their journey to change the world.

Focus
Our initial check size will be between $500k-$5M across a variety of verticals including Enterprise SaaS, AI/ ML, Robotics, Digital Health, Medical Devices, Autonomy, and Blockchain. We believe these sectors will drive innovation over the coming decade and the Midwest is uniquely positioned to build marketing defining companies leveraging the expertise based in this region.

Why the Midwest?
There is no better place to launch an early stage business than the Midwest of the United States. This is driven largely by the presence of world class talent emanating from the regions’ leading research institutions including Carnegie Mellon University, The University of Pittsburgh, The University of Michigan, The Ohio State University, The University of Illinois and others. When you combine the top technical minds in the fields of Computer Science, Artificial Intelligence, Robotics and Healthcare with a high quality of life, favorable business climate, and seemingly endless pool of technical talent you get a innovation community poised to build globally impactful businesses. Our goal is to become the “first stop” for founders in this region and support them as they grow.

Team + History
Our team is comprised of four seasoned early stage investors: Mike Stubler, Jay Katarincic, Will Allen, and Zach Malone. Mssrs. Stubler, Katarincic, and Malone have a combined 50 years of experience working together at the predecessor to MVP, Draper Triangle Ventures. As one of the first venture firms to focus on the Midwest, Draper Triangle led the first round of investment for many of the Midwests’ most successful venture backed companies including Alviere, Aware, Autobooks, Locomation, Re2 Robotics (acquired by Sarcos), TOA Technologies (acquired by Oracle), CardioInsight (acquired by Medtronic), OnShift, BodyMedia (acquired by Jawbone), Carnegie Learning (acquired by Apollo Group), and Renal Solutions (acquired by Fresenius Medical Care).

Rounding out the founding team at MVP is Will Allen. A seasoned Angel Investor, Philanthropist, Real Estate Developer and 12 year NFL Veteran with the Pittsburgh Steelers and Tampa Bay Buccaneers. He brings a successful track record of early stage investment experience to the partnership. His portfolio includes dozens of successful companies including Metafy, Gigwage, Portex, iraLogix, eFuse, and PlayersTV.

In creating a culture of inclusivity and community, the partners share these common beliefs:

  • We are Accountable: We make timely decisions based on rigorous analysis and are conscientious stewards of the resources entrusted to us. We actively measure our progress and take responsibility for our actions and honor our commitments.
  • We are Bold: We are optimists who find, fund and support passionate innovators and entrepreneurs who have powerful ideas. We take risks on early stage teams with plans that possess the greatest promise for significant impact. Our efforts help create a better future for all.
  • We are Enthusiastic: We bring passion and humility to our work, along with an unwavering commitment to deliver on our mission. We love what we do and are eager to bring our best selves to work every day.
  • We are Partners: We build trusting, collaborative and honest relationships with our partners and one another to accomplish more together. By forging deep connections with our companies and other leaders, along with the markets and communities they serve, we can deliver on our common goals.
  • We are Inclusive: We proactively pursue diverse entrepreneurs and teams so that powerful ideas have a chance to flourish. We nurture a respectful culture that leverages the strength of our varied talents, experiences and perspectives.

Building the Future
We are incredibly humbled for the opportunity to work with some of the most talented founders in the world. As we build our portfolio, the MVP team has committed to using our platform help fund promising founders often overlooked by coastal venture firms.

We have set a goal of deploying 33% of our new fund into companies led by diverse founders. In addition we are implementing a new initiative dubbed the “Rooney Rule” designed to help diversify our regions’ talent pool. As part of this program our firm will ask all portfolio companies to interview at least one African American, a person of color, female, first generation immigrant, and/ or LGBTQ candidate for all senior hires. We will make commercial best efforts, make every attempt and support portfolio companies to target hiring diverse talent of 30% on their teams.

The early stage tech ecosystem in cities like Pittsburgh, Columbus, Cleveland, Cincinnati, Ann Arbor, Detroit, Indianapolis and Chicago are going to move from “hidden gems” to the main stage in the coming decade. Our firm is excited to help lead this transition and will work tirelessly to help support our portfolio companies as they build the future.

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MVP is an early stage venture capital firm based in Pittsburgh, PA

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Magarac Venture Partners

Magarac Venture Partners

MVP is an early stage venture capital firm based in Pittsburgh, PA

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