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Comeback Capital Adds New General Partners, Launches New Rolling Fund to Provide Early Stage Funding to Startups in the Heartland
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Veteran Investors and Operators Patrick McKenna and Phil Hagerman Join as General Partners to Empower Entrepreneurs and Businesses in Emerging Tech Hubs
Comeback Capital Raises $10M Fund, Collaboration with One America Works, Adds New General Partners CLEVELAND (PRWEB) June 09, 2021
Comeback Capital, the venture capital firm that focuses on providing early stage funding to startups in the Heartland, today announced the appointment of two new general partners, Patrick McKenna, co-founder/executive chairman of Facet Wealth and Phil Hagerman, CEO of Forum Health, who will help the firm capitalize on the bounty of talent and entrepreneurship in emerging tech hubs beyond the Midwest. To fund this expansion, Comeback is launching a new $10M rolling fund via AngelList, to invest
Scott Shane, managing partner of Comeback Capital.
Comeback Capital, a venture capital firm operating out of Cleveland, is launching a $10 million rolling fund via AngelList positioned to invest in technology-based startups across the country.
The rolling fund opens to investors July 1. Its purpose is to fund early stage companies beyond the Midwest, Comeback Capital s flagship and primary region of focus.
Comeback itself launched with a $2.3 million fund that was unveiled during a press event at the Youngstown Business Incubator in October 2018.
The firm says it has invested in 25 companies since inception, including entities such as Path Robotics (Columbus), FloatMe (Texas), Paxafe (Wisconsin) and Civic Eagle (Minnesota). Its investments target pre-seed stage companies whose customer base not necessarily headquarters is in the Midwest.
In the welding field, however, some argue that a robot takeover might be beneficial, and even necessary.
Columbus startup Path Robotics believes AI is one solution to the shortage of skilled labor that plagues welding. Path boasts the “world’s first truly autonomous robotic welding system.” Conceived after 18 months in the basement of a foundry, its system identifies what needs to be welded, welds it and learns along the way.
Path Robotics CEO Andy Lonsberry said he and his brother, Alex Lonsberry, chief technology officer at Path Robotics, always wanted to start a business.
“We had a pretty entrepreneurial upbringing,” Lonsberry said in an interview as he talked about his family s custom motorcycle business, which was his start in manufacturing.