Vora joins Advisory Board of Midwest-focused venture fund along with investors from Boston, Chicago, Houston, and Silicon Valley
Vora Ventures, a Cincinnati based, privately held, equity group that specializes in building innovative IT companies worldwide, today announced an investment in the recently closed Vine Street Ventures Fund II. In addition to its role as investor, Vora Ventures will also serve on the Advisory Board of the seed-stage fund, which focuses on investing in promising internet and mobile businesses.
“There is tremendous energy in the technology ecosystem of Cincinnati, and Vora Ventures is thrilled to contribute to its success. The Vora investment and participation in the VSV Fund II further fuels our commitment to building Cincinnati’s technology leadership, and strengthens our partnership with tremendous local resources like Vine Street Ventures, The Brandery, CincyTech, and Cintrifuse,” said Mahendra Vora, Founder and Chairman of Vora Ventures. “With the support of organizations like Vine Street Ventures, Vora, and others, I have no doubt that Cincinnati will produce some of the world’s leading technology companies in the years to come.”
Vine Street Ventures Fund II is the second fund for this group. Vine Street Ventures raised its first fund in 2012, which included investments in Cincinnati and Brandery success stories, including Ahalogy, Roadtrippers, ChoreMonster, and FlightCar. FlightCar recently announced their $22 million Series B financing with participation from Vine Street Ventures and leading venture capital firms GCV Capital, Softbank Capital, and First Round Capital.
With Vine Street Ventures Fund II, Marina Dedes Gallagher is joining the team as a Director. Gallagher was previously a Vice President at Lightbank, a Chicago-based VC fund started by the co-founders of Groupon. She was a key member of the investment team and worked in an operational capacity with several of Lightbank’s portfolio companies in ecommerce and marketplace technology.
“Mahendra Vora and his portfolio of innovative tech companies serve as real-world examples of successful entrepreneurship in Cincinnati, and provides access to a valuable global network of resources,” said Rob McDonald, Co-Founder of The Brandery and Vine Street Ventures. “Vora Ventures is an excellent addition to our world-class investor group. We look forward to Vora Ventures’ contributions to our portfolio and to the overall growth of #StartupCincy.”