The Midwest pre-seed map: Illinois, Michigan, Ohio, Minnesota, Missouri

• 2,036 startup investor records across the 12 Midwest states; 520 list pre-seed in the eight states with 10 or more.
• Illinois: 1,033 records, 280 list pre-seed; the Chicago metro alone has 254.
• Michigan has the highest pre-seed share in the region: 69 of 147 records with a stage (46.9%).
• Ohio has 10 micro-VC records, one of three states with at least 10.
• Start in your state, add Chicago, then raise across state lines.

The Midwest gets written off in startup media as flyover country for capital. Our data tells a more useful story. Across the 12 Midwest states, the Zalarma database holds 2,036 US startup investor records, and 520 of them list pre-seed in the eight states where that count reaches our reporting threshold (Zalarma investor database, as of 2026-11-01).

That is not a Bay Area-sized pool. It does not need to be. A pre-seed round needs a handful of the right investors, and the Midwest has them in every major metro. Here is where they are.

The Midwest pre-seed map

Nebraska adds 10 pre-seed records, with Omaha its main city. Iowa, Kansas, North Dakota and South Dakota each have fewer than 10 pre-seed records in our data, so founders there should plan to raise across state lines from the start.

Illinois: the region's anchor

Illinois holds half of the Midwest's startup investor records: 1,033, of which 280 list pre-seed (43.3% of those with a known stage, above the US share of 39.6%). The Chicago metro alone has 1,132 records, including 254 that list pre-seed and 169 angels. Family offices are a big part of the picture too: 500 of the Chicago metro's records.

Firms that list pre-seed and appear in our Chicago data include Corazon Capital, Lightbank and Manifold. For founders anywhere in the region, Chicago is the natural second ring after your own state.

Michigan: small count, early focus

Michigan has 193 records, fewer than Ohio, but more of them list pre-seed: 69, or 46.9% of those with a known stage. That is the highest pre-seed share of any Midwest state in the table. Detroit (64 records), Ann Arbor (37) and Grand Rapids (17) are the main cities, and Arboretum Ventures and Grand Ventures are among the firms with the most investors listed.

Michigan investors also write bigger checks than you might expect: 42 records list checks of $1M or more, against 63 that list $50K to $250K.

Ohio: three cities and a micro-VC cluster

Ohio has 278 startup investor records split across three cities of similar size: Cleveland (84), Columbus (67) and Cincinnati (59). 67 list pre-seed.

Ohio stands out in one more way. It has 10 micro-VC records, which puts it alongside California (74) and New York (35) as one of three states with at least 10 micro-VC records in our database. Small funds are often the most realistic pre-seed leads. Drive Capital, CincyTech USA, Rev1 Ventures, Refinery Ventures and North Coast Ventures are among the firms with the most Ohio investors listed.

Check sizes in Ohio are angel-friendly: 91 of 186 records with a known check size (48.9%) list $50K to $250K. Consumer (93), B2B SaaS (90) and healthcare (82) are the top sector focuses. See the full Ohio investors page.

Minnesota: healthcare country

Minnesota has 134 records, 74 of them in Minneapolis and 12 in Wayzata. 32 list pre-seed. Healthcare is the second most common sector focus (46 records), close behind B2B SaaS (51). Bread and Butter Ventures, Atland Ventures and Arthur Ventures are among the firms with the most investors listed. More on the Minnesota investors page.

Missouri, Indiana and Wisconsin

• Missouri has 152 records, centered on St. Louis (79) and Kansas City (23). Only 23.0% of those with a stage list pre-seed; Missouri leans later, with 54 records listing Series B or later. Thompson Street Capital Partners (18) and Cultivation Capital (11) have the most investors listed.
• Indiana has 72 records, 40 of them in Indianapolis, and 25 list pre-seed. HG Ventures, Elevate Ventures and High Alpha are among the firms with the most investors listed.
• Wisconsin has 64 records split between Madison (14) and Milwaukee (10), with 11 listing pre-seed. TitletownTech and American Family Ventures are among the top names.

A Midwest pre-seed playbook

1. Start in your state, then go to Chicago. Pull every local investor who lists pre-seed and your sector. Then add Chicago: the metro alone lists 254 pre-seed records, more than any other Midwest state.
2. Look for the small funds. Regional micro-VCs and state-backed programs are often the most realistic first leads. Ask them early how they like to see a deal.
3. Use the angel groups. Many angels invest through organized groups that review deals on a schedule. One good application can reach dozens of members.
4. Raise across state lines. An Indianapolis founder can lead with a Chicago fund and fill with Ohio angels. Regional investors often co-invest.
5. Earn warm intros locally. Midwest investor communities are small and connected. One founder they backed is worth ten cold emails. See the warm intro playbook and raising pre-seed without a network.

How we counted

Counts are records in the Zalarma investor database tagged as startup investors with a US location, as of 2026-11-01. Midwest means the 12 states in the US Census Bureau's Midwest region. A record is a person or a firm and can list several stages; pre-seed shares use only records with a known stage. Firm counts are the number of investors we list at that firm and are shown only when 10 or more. We do not publish any figure under 10.