Drive Capital’s second act –  how the Columbus venture firm found success after a split

The venture capital world has always had a hot-and-cold relationship with the Midwest. Investors rush in during boom times, then retreat to the coasts when markets turn sour. For Columbus, Ohio-based Drive Capital, this cycle of attention and disinterest played out against the backdrop of its own internal upheaval several years ago — a co-founder split that could have ended the firm but may have ultimately strengthened it. At a minimum, Drive achieved something newsworthy in today’s venture landscape this past May. The firm returned $500 million to investors in a single week, distributing nearly $140 million worth of Root Insurance shares within days of cashing out of Austin-based Thoughtful Automation and another undisclosed company. It could be seen as a gimmick, sure, but limited partners were presumably pleased. “I’m unaware of any other venture firm having been able to achieve that kind of liquidity recently,” said Chris Olsen, Drive’s co-founder and now sole managing partner,