Drive Capital, a Columbus-based venture capital firm, has successfully navigated significant internal strife, including a split between co-founders Chris Olsen and Mark Kvamme three years ago, which ultimately strengthened the firm's resilience.

Now the sole managing partner, Chris Olsen attributes Drive's success to a contrarian investment strategy that prioritizes steady returns over chasing high-value 'unicorn' companies.

In May 2025, Drive Capital made headlines by returning $500 million to investors in a single week, distributing nearly $140 million in shares from Root Insurance and cashing out from Thoughtful Automation.

The firm's portfolio includes successful investments in companies like Duolingo and Vast Data, valued at approximately $18 billion and $9 billion respectively, although it has also faced challenges, such as the decline of Olive AI.

Drive Capital focuses on applying technology to traditional industries, such as autonomous welding and dental insurance, which are often overlooked by coastal venture capitalists.

Differentiating itself from Silicon Valley firms, Drive Capital invests in companies outside the traditional tech hubs, suggesting that early-stage companies in other regions must meet a higher standard to attract venture investment.

Operating across six cities, including Columbus, Austin, and Chicago, Drive Capital supports entrepreneurs who might otherwise struggle to balance investor proximity with customer access.

Currently managing around $2.2 billion in total assets, Drive Capital has 30% remaining to invest from its latest $1 billion fund, which was established while Kvamme was still involved.

The recent establishment of Erebor, a cryptocurrency-focused bank in Columbus by tech billionaires including Palmer Luckey and Peter Thiel, further validates Columbus as a growing tech hub.

Drive Capital's strategy has led to substantial returns from investments, such as a significant stake in Thoughtful Automation, despite the firm not chasing billion-dollar valuations.

Notably, Drive Capital holds a higher ownership stake in its portfolio companies, averaging around 30%, compared to the typical 10% stake held by Silicon Valley firms.

Olsen believes that a successful venture strategy requires consistent returns even during economic downturns, aiming to find opportunities outside the competitive Silicon Valley market.