VentureBeat: Midwest startup exits surged in 2017

A year ago, the Midwest saw one of its largest tech exits to-date: the January 2017 $1.1 billion sale of CoverMyMeds to San Francisco-based McKesson Corp. The CoverMyMeds exit was the biggest in Ohio history, and it signaled an upward growth trajectory in exit activity from 2016.


When it comes to Midwest exits, 2017 was an extremely strong year. Through an analysis conducted with data from Pitchbook, Mattermark, and our own proprietary research, Hyde Park Angels looked at the biggest disclosed exits of 2016 and 2017 in what we consider the Midwest: Illinois, Indiana, Michigan, Minnesota, Ohio, and Wisconsin.



In 2016, 51 companies exited for a collective value of $1.6 billion. In 2017, 37 companies exited for a total value of $5.1 billion. This trend demonstrates a move to more dollars flowing into fewer deals. Interestingly, these exits included a combination of venture capital-backed, private equity-backed, and bootstrapped companies, demonstrating a diversity of capital to fund companies to growth.


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