OCA Ventures

OCA Ventures Research Investment Thesis OCA Ventures is an early-stage venture capital firm founded in 1999 and deeply embedded in the University of Chicago ecosystem, particularly through connections to the Booth School of Business. The firm specializes in fintech, insurtech, digital health, enterprise software, and data analytics. They believe in partnering with bold, creative, and humble founders to help them build great companies, providing not just capital but hands-on operational support and valuable connections. The firm operates with a philosophy of being "hands-on, collaborative, and entrepreneur friendly," rolling up their sleeves to help portfolio companies succeed. Their long track record (125+ companies funded, 2000+ jobs created, $1B+ in follow-on capital raised) demonstrates deep expertise and strong founder relationships. Stage Focus OCA Ventures primarily focuses on early-stage investments: Seed stage : Primary focus with $1M-$3M check sizes Series A : Active participation in Series A rounds Pre-Seed : Selected investments in companies with MVP and measurable customer adoption Series B : Selective participation in follow-on rounds for existing portfolio companies The firm prefers companies that have launched an MVP and demonstrated early, measurable customer adoption before investment. Check Size & Capital Deployment Typical check size : $1M-$3M Follow-on capacity : Yes, reserves follow-on capital for promising portfolio companies Investment approach : Lead and co-lead rounds, comfortable syndicating with other investors Lead Tendency OCA Ventures has a balanced lead/follow approach : Comfortable leading rounds when they have conviction Actively follows in rounds and values syndicating with other quality investors Portfolio evidence shows both lead positions (Balto, Alembic, Gray Matter Robotics) and participation rounds (Iris Automation, Snapsheet follow-ons) Sector Focus Primary sectors include: Fintech & Payments : BUDDY, dv01, Falcon Insurance, Health iPass (acquired), TradeKing (acquired), Solovis (acquired), Sumridge (acquired), Trim (acquired), Kraken Ventures, The Fintech Fund Digital Health & Healthcare Technology : Array, Astarte Medical, Atalan, BioRosa, Biotia, Clearstep, HealtheMed, Health Finch (acquired), Hubly Surgical, iPill, mPulse, Movn Health, OpenMarkets, ORISDX, Pair Team, Progentec, PursueCare, Rhythm Science, Sentry Health, Verisim Life, VyncaCare Enterprise Software & B2B SaaS : Alembic, Archer Education, Automated Insights (acquired), Balto, Curate, Genvid, Gray Matter Robotics, Hubly, LogicGate, Mission Control AI, Ocient, Placer.ai, Preflight, Recruitbot, Roq.ad, Spider Oak, UBIQ, Zammo, Markee Insurance Technology : BUDDY Insurance Consumer Software & Media : Betty, Food ID, Snapsheet, Spot Hero, Tenor (acquired by Google) Data Analytics & Infrastructure : Cleversafe (acquired by IBM), Ocient, Roq.ad MarTech & Advertising : Roq.ad Education : Archer Education Robotics & Automation : Gray Matter Robotics, Hubly Surgical, Iris Automation, Impossible Objects, WhiteFox Other categories : AMOpportunities, Amplified Sciences, Crafty, Deciens (fund), Genvid, Prosthetics & Life Sciences Geographic Focus Primary focus on US & Canada based companies , with concentration in: Chicago, IL (substantial presence - The Mom Project, LogicGate, Spotshero, Snapsheet, Spider Oak, and others) San Francisco, CA (strong presence - Tenor, Verisim, Osso VR, Pair Team, Recruit Bot, Zammo) New York, NY (Actuate, Betty, Biotia, Genvid, The Fintech Fund) Additional notable locations: Los Angeles, Boston, Seattle, Toronto/Vancouver Recent Activity & Portfolio Momentum As of January 2026, OCA is actively deploying capital: Recent Portfolio Company Exits & Acquisitions (2024-2025): Hubly Surgical: FDA 510(k) clearance for spinal decompression surgery (Nov 2025) mPulse: Acquired Clarity Software Solutions (Aug 2025) Roq.ad: Acquired Zeotap's third-party data arm (Sep 2025) eBlu Solutions: Acquired by Knipper Health/Frazier Healthcare (Jul 2025) Biotia: Received AMA PLA Code for BIOTIA-ID Urine NGS Assay (Jul 2025) Ocient: Appointed new CEO John Morris (Jun 2025) Recent Notable Activity: Hubly Surgical received FDA clearance, indicating strong healthcare/medtech focus Portfolio companies raising follow-on rounds and achieving clinical/regulatory milestones Active M&A activity in portfolio (mPulse acquisition of Clarity) Fund Status : Actively deploying capital with recent investments and portfolio company achievements across healthcare, fintech, and enterprise software. Team & Leadership Partners & General Partners: Jim Dugan, Founding Managing Partner : 30+ years in corporate finance, capital markets, and VC. Former trader at CBOT/CBOE. Focused on Fintech, InsurTech, EduTech, marketplaces, and data analytics. Guest lecturer at Kellogg School of Management on VC/PE structuring. Nick Schoewe, Vice Chairman & General Partner : Specializes in Fintech. Co-founder of CSS, LLC and O'Connor Partners Investment Office. 20+ years in global equities and derivatives trading at Swiss Bank Corporation, with roles in Tokyo, Hong Kong, and London. MBA from Booth, BS in Electrical Engineering from MIT. Bob Saunders, General Partner : Executive profile available on website Kevin McQuillan, General Partner : Executive profile available on website Peter Ianello, Chairman & Co-Founder : Co-founder leadership role John Dugan, Chairman Emeritus & Co-Founder : Co-founder leadership role Investment Team: Steve Shein, Principal : Deal sourcing and evaluation Manu Sharma, Vice President of Investments : Investment team lead Michelle Cao, Vice President of Investments : Investments team Dave Zyer, Venture Partner : Partner network Ian Drury, Venture Partner : Partner network Operations & Support: Waverly Deutsch, Operating Partner : Portfolio company operational support Fahad Qureshi, Vice President of Accounting & Finance : Financial management Kelley Quinn, Finance & Operations Manager : Operations Sarah Manasevit, Senior Associate : Deal support Leticia Martinez, Senior Executive Assistant : Executive support University Affiliations: Strong connection to University of Chicago Booth School of Business through co-founders and GP team Access to Booth MBA interns via VC Lab, providing technical and operational resources to portfolio companies Decision Process Approach : Partnership-oriented, hands-on investment style Structure : Led by a team of experienced partners with specialized expertise (fintech, healthcare, enterprise software) Committee : Evidence of partnership decision-making with multiple GPs involved in investment decisions Process Speed : Early-stage investments typically move faster than later-stage; clear criteria allow efficient evaluation Key differentiator : Deep Chicago ecosystem connections and Booth School affiliation Founder Preferences & Investment Philosophy OCA looks for: Founding team : Founders who are "bold, creative, and humble" Market traction : Companies must have launched MVP with "early, measurable degree of customer adoption" Domain expertise : Particularly values experienced founders in their sectors (healthcare, fintech, enterprise software) Hands-on engagement : Founders who value operational partnership and strategic guidance Alignment : Companies seeking genuine partners, not just capital The firm emphasizes hands-on support, providing: Strategic guidance and market insights Board support from experienced partners Introductions to customers, partners, and follow-on investors Operational expertise from partners with domain backgrounds Connection to Booth MBA interns for additional technical resources Geographic & Market Preferences Primary geography : US and Canada Urban focus : Particularly Chicago (strong hometown advantage), SF Bay Area, NYC, Los Angeles, Boston Market characteristics : Prefers markets with strong ecosystems, customer density, and talent availability Historical Context & Track Record Founded in 1999 by Jim Dugan and Peter Ianello, OCA Ventures has: 125+ portfolio companies funded across 25+ year history 2,000+ jobs created by portfolio companies $1B+ in follow-on capital raised by portfolio companies (indicating strong exits and follow-on investor confidence) Multiple successful exits : Google acquisition of Tenor, IBM acquisition of Cleversafe, Ally Financial acquisition of TradeKing, Nasdaq acquisition of Solovis, and many others Deep relationships with entrepreneurs, investors, and corporate partners in fintech, healthcare, and enterprise software The firm's longevity and successful exits demonstrate deep expertise in early-stage investment, founder support, and market selection. Typical Involvement & Support OCA partners typically: Serve on portfolio company boards or advisory roles Provide regular strategic input and guidance Make introductions to customers, partners, and future investors Offer operational expertise from their own backgrounds in trading, finance, technology, and healthcare Connect portfolio companies to university resources (Booth MBA interns) Support multiple rounds of funding through reserve capacity Evidence from founder testimonials (Allison Robinson, Jo Varshney, Jacob Navok, Marc Bernstein, Brad Weisberg) shows partners are actively engaged, providing "strategic advice and introductions," "thought partnership," and help "putting together compelling stories" for fundraising. Notable Portfolio Companies Public Company Exits: Tenor (Acquired by Google, 2018) - GIF search engine TradeKing (Acquired by Ally Financial, 2016) - Online trading platform Recent Acquisitions: Alert Logic (Acquired by Help/Systems, 2022) - Cloud security Cleversafe (Acquired by IBM, 2015) - Cloud object storage Solovis (Acquired by Nasdaq, 2020) - Institutional investment management Sumridge (Acquired by Raymond James, 2022) - Fixed income trading Trim (Acquired by OneMain Financial, 2021) - AI financial behavior Swipe Sense (Acquired by SC Johnson, 2020) - Healthcare error reduction Cartavi (Acquired by Docusign, 2013) - Document sharing Automated Insights (Acquired by Vista Equity Partners, 2015) - Data to news Health iPass (Acquired by Sphere, 2020) - Patient payments Health Finch (Acquired by Health Catalyst, 2020) - Clinical workflow automation Active Portfolio Highlights: Ocient - Hyperscale database and analytics Verisim Life - AI-enabled drug development Genvid - Interactive live events platform mPulse - Conversational AI in healthcare Placer.ai - Location data and analytics LogicGate - Risk and compliance management Balto - AI for sales success Snapsheet - Cloud claims management Competitive Position OCA Ventures positions itself as: Partner of choice for early-stage founders seeking hands-on support Fintech & healthcare specialist with deep sector expertise Chicago ecosystem leader with strong local connections and university affiliation Founder-friendly alternative to more transactional VC approaches Follow-on investor with capacity to support companies through multiple rounds Value-add oriented emphasizing strategic guidance beyond capital Summary OCA Ventures is a sophisticated, early-stage venture capital firm with 25+ years of successful investing in fintech, digital health, and enterprise software. Founded in 1999, the firm combines operational expertise, sector specialization, and deep ecosystem connections (particularly through University of Chicago Booth) to support founder teams. With a track record of 125+ successful portfolio companies, multiple billion-dollar exits, and founder testimonials praising their hands-on partnership approach, OCA represents a quality early-stage investor focused on the Midwest and California markets.