Open Prairie Ventures is an early-stage venture capital firm investing in promising IT, wireless communication and life science technology companies. Open Prairie applies both its capital and team's expertise to focus on companies with efficient capital usage and disruptive technologies. With offices in Illinois and Kansas City, Open Prairie's national reach and unique access to investment opportunities throughout the Midwest region allows the firm to build a diverse portfolio of growth technology companies.
Founded in 1999, Open Prairie Ventures I, L.P. was licensed by the Small Business Administration as a Small Business Investment Company (SBIC). In 2006, Jim Schultz, Michael Peck, and Dennis Beard approached the SBA with a proposal to purchase the SBA limited partner interest in Fund I and cease operating under the SBIC license. To complete the SBA buyout, Open Prairie Ventures was successful in obtaining a commitment from HarbourVest Partners to fully replace the SBA position. The transaction closed on June 30, 2006 and consummated HarbourVest Partners as a limited partner in Fund I. The transaction allows the managers to operate the fund to full conclusion without the SBA-SBIC constraints.
