Gateway Capital Partners, the venture firm founded by Dana Guthrie, has announced the first close for its $25 million target Fund II. The Milwaukee-based firm told TechCrunch that while it declined to share the exact amount of the first close, this milestone signals the beginning of investment operations.

Guthrie initiated fundraising efforts for Fund II in the middle of last year with an aim to back at least 20 companies, each receiving between $500,000 and $600,000. The fund will focus on industries ripe for disruption, particularly supply chain, logistics, and manufacturing AI.

Gateway Capital was launched in 2020 and previously raised a $13 million Fund I. Guthrie's strategy hints at an investment landscape favoring tech-driven changes over traditional industrial growth. Meanwhile, the firm is set to invest in companies across various sectors with potential for technological innovation within the Midwest.

As technology reshapes industries globally, Gateway Capital's focus on disrupting the status quo could lead to significant changes within its target regions and beyond. The venture capital world watches with interest as this fund seeks to drive innovation through strategic investments.