Drive Capital, a venture capital firm backed with $50m from Ohio State University, hits its $250m fund goal in a year.

Drive Capital has closed its first $250m fund with help from Ohio State University.

Launched by former business data firm JobsOhio executive and venture capitalist Mark Kvamme (pictured) last year, Drive has raised the fund from a number of private sources, although Ohio State University made its $50m investment in the fund public last year.

The fund will focus on technology, healthcare, and consumer start-ups on US Midwestern companies, and seeks to fill the gap in available venture capital for…

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