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KONVOY
KONVOY is a Chicago-based venture capital firm co-founded by Joshua B. Siegel in 2008, backing early-stage enterprise and consumer technology companies.
KONVOY
KONVOY was co-founded in 2008 by Joshua B. Siegel, who previously worked at Chicago-based venture firm OCA Ventures. The firm was built around a sector-agnostic but thesis-driven strategy, targeting early-stage technology companies with potential for network-effects scaling. KONVOY's strategy spans enterprise software, financial technology, artificial intelligence and machine learning, digital health, and climate technology. The firm has made over 100 portfolio investments including notable companies such as *Project44*, *Vivid Seats*, and *The Mom Project* (per public company disclosures). Geographically, KONVOY primarily invests in North America, with a particular concentration in the Midwest tech ecosystem, though it also backs companies on both coasts. The firm operates with a lean team of partners and principals, having disclosed additional offices in San Francisco and New York. In 2022, KONVOY raised a $150 million fund, according to a regulatory filing. KONVOY also operates a philanthropic arm, the KONVOY Foundation, which supports educational and economic development initiatives in Chicago. KONVOY structurally differentiates by maintaining a permanent capital base — the firm does not operate on a traditional fund cycle, allowing it to hold investments for longer periods and be more opportunistic. This structure aligns the firm's incentives more closely with long-term value creation rather than quarterly metrics.
General information
Firm type
Venture Capital
Year founded
2008
AUM
Undisclosed
Location
Region
North America
Country
United States
City
Chicago
Corporate office
Chicago, IL, United States
Principals
Joshua B. Siegel
Co-Founder and Managing Partner
Lance E. Pressl
Partner
Sector focus
Frequently asked questions
Who leads investment decisions at KONVOY?
KONVOY is led by co-founder and Managing Partner Joshua B. Siegel, who oversees all investment decisions alongside a partnership team that includes Partner Lance E. Pressl. The team has deep roots in the Chicago startup ecosystem (per public sources).
How does KONVOY source proprietary deal flow?
KONVOY's deal flow comes from its deep network within the Midwest technology community, relationships with other venture firms, and its thesis-driven focus on sectors like enterprise software and climate tech. The firm is known for taking a hands-on approach with portfolio companies, often sourcing deals through referrals from founders and co-investors.
What investment stages does KONVOY typically target?
KONVOY primarily invests in early-stage companies, from seed to Series B rounds. The firm writes initial checks ranging from $2 million to $10 million, with the ability to participate in follow-on rounds. Its permanent capital structure allows it to hold positions through later stages.
Is KONVOY structured as a traditional venture capital firm or something different?
KONVOY is structured as a venture capital firm but with a permanent capital base — it does not operate on a traditional 10-year fund cycle. This allows the firm to invest with a longer time horizon and be more patient with portfolio companies, akin to a family office or endowment model, though it does raise funds from LPs.
Which sectors does KONVOY explicitly avoid?
KONVOY has not publicly disclosed sectors it avoids, but its focus areas — enterprise software, FinTech, AI/ML, digital health, and climate tech — suggest it generally avoids biotech, real estate, and hard physical infrastructure. The firm's portfolio is concentrated in technology-enabled services.
What is KONVOY's known posture on co-investments?
KONVOY is open to co-investing alongside other venture firms, particularly in its core sectors. The firm has syndicated deals with major venture capital firms including Insight Partners and Greycroft. Its Midwest roots have made it a frequent co-investor with other Chicago-based funds like Pritzker Group and OCA Ventures.
Does KONVOY maintain philanthropic structures, and how are they separated?
KONVOY operates a separate philanthropic arm, the KONVOY Foundation, which is funded by the firm's partners. The foundation focuses on education and economic development initiatives in Chicago. The foundation is structurally distinct from the firm's investment activities and is managed independently.
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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