February 4, 2016

St. Louis-based venture capital firm, Lewis & Clark Ventures, announced it has closed on its first fund at $104 million. Founded by Tom Hillman, who together with managing director, Brian Hopcraft has led businesses including Answers, Sendouts, Bullhorn, and Gateway Media, the fund will focus on Series A and B venture capital investments of between $3 million and $7 million in high growth businesses involved in the financial, agriculture, healthcare, enterprise, and human sciences fields across the U.S. Midwest.

“We see tremendous innovation developing in the Midwest,” Hopcraft said in a company statement. “The region between the mountain ranges is often overlooked by coastal venture firms, and yet has an increasing amount of companies with great ideas. The Midwest offers fertile grounds to invest our capital, resources and expertise.”

This fund will exist separately from Lewis & Clark’s $25 million fund that is being backed by Express Scripts, according to the St. Louis Business Journal. In December 2015, Express Scripts committed the funds to create a fund that would target investments in companies and technologies that would give it early access to cutting edge developments in healthcare.

 “We are interested in companies with customers and revenue that leverage technology to solve problems…,” said Managing Director, Brian Hopcroft.