Propellant Ventures

The firm concentrates on Pre-Seed and Seed rounds with investment sizes ranging from $100,000 to $500,000. Its primary focus is the Midwest, though it evaluates exceptional companies in other underserved regions and may consider later-stage rounds on a selective basis.

Propellant Ventures invests in tech-enabled B2B industries. The firm's website specifically names healthtech, future of work, supply chain, fintech, industrial IoT, and edtech as areas of interest. It seeks startups serving business customers rather than direct-to-consumer models.

The firm lists a seven-person investment team including Jason Jacobsohn, Derrick Horner, and Mark Reitsma, alongside an eight-member investment committee. The committee includes Hiral Chandrana, Andrew Don, Russell Findlay, Deborah Hill, Gregory Leos, and Dave Smith.

Propellant Ventures operates with a geographic focus on the Midwest, a region it believes is underserved by coastal venture firms. The firm states it works collaboratively with angel networks to fill the post-angel, pre-seed funding gap, though it does not disclose specific sourcing channels or partnerships in detail.

The firm describes its approach as both co-investing and leading rounds. It is structured to fill a capital gap for early-stage founders, and its website indicates flexibility to act as either a lead or a co-investor depending on the opportunity.

Propellant Ventures highlights a demonstrated commitment to diversity. A portfolio company founder quoted on the firm's website says Propellant has 'a strong commitment to diversity which is important personally' — though the firm does not publish specific diversity metrics or investment mandates tied to demographic criteria.

The firm's website lists 20 portfolio companies spanning sectors such as quantum computing, aviation logistics, enterprise software, and digital health. The firm does not disclose the total number of investments, portfolio value, or fund performance data.