Gateway Capital is a Milwaukee-based early-stage venture capital firm founded in 2020 by Dana Guthrie. The firm invests across sectors with a focus on Midwest founders building practical solutions to real problems, with a particular interest in supply chain, logistics, manufacturing AI, healthcare, and climate. Approximately 80% of Gateway's portfolio companies are minority-led, reflecting a deliberate mandate to back underrepresented founders in a region historically underserved by venture capital.
Gateway is industry-agnostic but applies a clear Midwest lens: it backs founders building in industries that define the regional economy and are ripe for disruption, including supply chain, logistics, and manufacturing AI. The firm is equally open to healthcare, climate, consumer, and justice-related startups, and actively seeks out founders who may lack access to coastal venture networks.
Gateway Capital announced the first close of Fund II in April 2026, targeting $25 million. The firm did not disclose the specific first-close amount but confirmed it enables immediate investment operations. Gateway began raising Fund II in mid-2025.
Where Fund I was focused exclusively on Wisconsin, Fund II expands Gateway's mandate to the broader Midwest. The fund targets a portfolio of at least 20 companies with average check sizes of $500,000 to $600,000. Fund I raised $13 million and backed 13 companies across Wisconsin.
Leadership
Dana Guthrie is Founder and Managing Partner. Before launching Gateway, she founded and managed Alchemy Angel Investors, an angel investment network focused on early-stage startups. She holds a BS in Computer Engineering from Milwaukee School of Engineering and a Master's in Energy Engineering from the University of Illinois Chicago.
Investment Strategy
Gateway writes checks averaging $500,000 to $600,000 at the early stage, targeting at least 20 companies from Fund II. The firm is sector-agnostic with a bias toward Midwest industries ripe for disruption: supply chain, logistics, and manufacturing AI. Nearly 80% of its current portfolio is minority-led, reflecting intentional sourcing across underrepresented founders throughout the Midwest. Founders can apply directly at gwaycapital.com/apply/.
Other
Fund II marks Gateway's geographic expansion from Wisconsin to the broader Midwest, and the first close enables immediate deployment. The firm accepts direct applications from founders at gwaycapital.com/apply/.
United States
