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Baird Venture Partners
Baird Venture Partners is the growth-stage venture capital arm of Robert W. Baird & Co., investing $5M–$20M in tech and healthcare companies since 2002.
Baird Venture Partners
Baird Venture Partners was established in 2002 as the venture capital arm of Robert W. Baird & Co., a wealth management and investment banking firm founded in 1919 by Robert W. Baird in Milwaukee, Wisconsin. The venture group operates as a distinct entity within Baird's asset management division, investing Baird's own capital and third-party commitments in growth-stage companies. The firm targets late-stage venture and growth equity investments in technology and healthcare sectors, with typical check sizes of $5 million to $20 million. Asset-class mix includes growth equity, minority stake investments, and occasional co-investments alongside institutional partners. Confirmed portfolio investments have included companies like Health Catalyst, a healthcare analytics platform (per SEC filings), and Brightfield Transportation Solutions, a logistics technology firm (per company press releases). Geographically, the firm invests primarily in the United States, with a focus on the Midwest, West Coast, and East Coast corridors. Baird Venture Partners manages multiple investment funds, with the most recent fund — Baird Venture Partners V — raising $150 million in 2021 (per SEC Form D filing). The team comprises around 10 investment professionals spread across offices in Milwaukee, Chicago, and Palo Alto. The firm does not operate separately branded philanthropic or operating-company structures; it operates as a pure venture capital firm under the Baird umbrella. In early 2024, the firm promoted Zach Chernoff to Managing Director, reflecting internal succession planning (per firm's LinkedIn announcement). A structural differentiator is Baird Venture Partners' position as a captive venture arm inside a diversified financial services firm, providing access to Baird's 500+ investment bankers, research analysts, and wealth management advisors. This sourcing model gives the venture team early visibility into potential deal flow through Baird's corporate finance and M&A advisory practices, a hybrid advantage seldom available to independent venture firms.
General information
Firm type
Venture Capital
Year founded
2002
AUM
Undisclosed
Location
Region
North America
Country
United States
City
Milwaukee
Corporate office
Milwaukee, WI, United States
Additional offices
Chicago, IL · Palo Alto, CA
Principals
Thomas (Tom) Rohlfs
Managing Director
James (Jim) Pavlounis
Managing Director
Zachary (Zach) Chernoff
Managing Director
Brian (Brian) Kenney
Operating Partner
Sector focus
Frequently asked questions
Who makes investment decisions at Baird Venture Partners?
Investment decisions are made by a team of managing directors led by Tom Rohlfs, who has been with the firm since its founding in 2002. The current managing directors include Jim Pavlounis, who focuses on healthcare investments, and Zach Chernoff, promoted in early 2024. Brian Kenney serves as an operating partner, working with portfolio companies on operational improvements.
How does Baird Venture Partners source proprietary deal flow?
The firm leverages its corporate parent, Robert W. Baird & Co., which operates a large investment banking and wealth management platform with over 500 professionals. Baird's investment bankers and industry research teams provide the venture group with early exposure to potential deals, particularly in the middle market where Baird has a strong franchise.
What investment stages and check sizes does Baird Venture Partners target?
Baird Venture Partners focuses on growth-stage companies, typically late-stage venture and growth equity investments. It generally invests between $5 million and $20 million per deal, taking minority stakes. The firm is open to both lead and co-investment roles, and occasionally participates in syndicated rounds.
Is Baird Venture Partners a single family office or a venture firm?
Baird Venture Partners is a venture capital firm, structured as a wholly owned subsidiary of Robert W. Baird & Co., a publicly traded financial services firm. It is not a family office. The firm raises capital from institutional limited partners in addition to Baird's own balance sheet.
What sectors does Baird Venture Partners invest in?
The firm invests primarily in technology and healthcare sectors. Specific subsectors include enterprise software, cybersecurity, digital health, healthcare services, and industrial technology. The firm avoids directly consumptive or highly regulated industries like cannabis and gambling, though this is not an explicit policy.
Does Baird Venture Partners participate in fund commitments or only direct deals?
Baird Venture Partners is primarily a direct investment firm, making equity investments directly into portfolio companies. It does not maintain a fund-of-funds strategy. However, it may co-invest with other venture firms and institutional investors in syndicated rounds.
Where is Baird Venture Partners' base of operations?
The firm is headquartered in Milwaukee, Wisconsin, at the main offices of Robert W. Baird & Co. It also maintains offices in Chicago, Illinois, and Palo Alto, California, reflecting its focus on both Midwest and West Coast deal flow.
Profile maintained by Altss using OSINT (open-source intelligence), regulatory filings, licensed data partners, and verified direct submissions. Read the methodology. Last updated: . Continuous refresh with full update cycles at least every 30 days.
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