New York and Silicon Valley might still hog the headlines, but another AI-fueled wave of innovation is being authored elsewhere as well. Salt Lake City to Denver to Atlanta are brewing new ecosystems generating companies at least as ambitious—and frequently less capital-intensive—than those along the coast. Run Ventures Series A fund is a brand-new $290 million vehicle staking its hope for tomorrow's big technology narratives to take place outside mainstream hotbeds.

Headed by veteran investors Ben Dahl and Brandon Tidwell, Run Ventures looks to close a vital funding gap and support AI-powered businesses growing in non-coastal regions. The firm has decades of venture experience among its partners, with previous successes like Cloudflare, Bark, Integral Ad Sciences, and Filevine. The message is straightforward: doubling down on the underrated opportunity wherever innovation is booming beyond coast lines.

Why Run Ventures was Founded

Tidwell and Dahl broke out of Signal Peak Ventures to create Run Ventures with a founder-centric mentality. They have a straightforward thesis: Even with wider access to seed funds, there are still plenty of startups running short on finding $5–10 million Series A funding. Mega-funds from the coasts skip those rounds to chase those late-stage billion-dollar checks.

Run Ventures considers this its sweet spot. By leading Series A rounds out of high-growth regions, the firm can assist ambitious founders to scale while remaining out of San Francisco and New York City.

"Nowadays, when founders opt to live and build out of cheaper amenity-rich cities, capital hasn't yet caught up," said Tidwell. "Our job is to close that Series A gap so founders don't have to move outright simply to bring in capital."

The name "Run Ventures" captures this ideology and urgency: move quickly, back big ideas, and get startups on track to breakout scale.

The AI Factor

One of the key driving forces behind Run Ventures Series A is the AI revolution. The startup environment is being revolutionized by artificial intelligence to create and scale from anywhere in the world at a faster and more streamlined rate. Nearly a quarter of new founders document having more than 95% of their code now being AI-authored, according to Y Combinator.

This change has eliminated the need for large coastline engineering teams to compete. Startups can now create quicker, leaner, and wiser operations based out of Salt Lake City or Indianapolis. AI-powered businesses are achieving ARR at the $100 million mark sooner than ever before, with Series A being a particularly attractive investment door to enter through.

Evidence in the Portfolio

Run Ventures already has proof points inside many industries and geographies.

·         Filevine: Salt Lake City-based AI-driven legal operating system is employed by global law firms. Having ARR of hundreds of millions, Filevine has only recently engaged with large-scale growth investors such as StepStone Group and Meritech.

·         Authenticx: Indianapolis-based Authenticx interprets voice data with AI and provides actionable intelligence to large healthcare companies.

·         Bark: Based in Atlanta, Bark protects children in cyberspace with state-of-the art AI-driven monitoring programs.

·         Hubpay: Fintech born out of Dubai and London and financed by Run Ventures to scale globally.

·         Alianza: A telecom software leader that acquired Microsoft’s Metaswitch business, cementing its European footprint.

All of these show Run's maxim: large-scale innovation is possible beyond Silicon Valley if startup founders are properly nurtured during Series A rounds.

Macro Forces Behind the Shift

The Run Ventures Series A fund timing is consistent with wider shifts in venture capital. In 2024, only nine firms raised close to half of all U.S. venture capital raised. These mega-funds are writing mostly late-stage deals and short-changing Series A firms.

Data by PitchBook shows smaller funds consistently outperform mega-funds by returns. By leaving Run's fund at $290 million, Tidwell and Dahl can stay disciplined, lead large rounds, and stay hands-on with founders.

"Capital concentration is a true phenomenon, but it has also introduced a gap," stated Dahl. "A combination of a properly sized fund, and founder-centric approach with a specialization in underrepresented geographies will provide us with a differentiation."

Founder-First and Geography-A

Run Ventures' approach is non-industry-specific but only related to founder quality. The firm aligns itself with endurance-motivated entrepreneurs who have something unique to bring and access to funds, but with board-level involvement, recruitment assistance, and fundraising expertise.

Whereas everyone else is competing AI deals solely out of the Bay Area, Run is going to ecosystems like Salt Lake, Denver, Atlanta, and Indianapolis. This geo-fluid strategy enables the fund to find and back underrated founders who are being overlooked by larger players.

Why Tidwell and Dahl Make a Good Team

Tidwell, who began life working out of Silicon Valley, is familiar with coast venture dynamics but has a reputation for finding underrated possibilities inside the interior United States. Dahl brings a combination of operator and investing experience, with founders frequently referencing steady encouragement during difficult times. They consistently have a history of remaining intensely involved throughout the startup process.

The Next Tech Boom Is Ubiquitous

The release of the Run Ventures Series A fund signals a seismic shift: neither Silicon Valley nor New York will contain the next AI-powered technology boom. Talent is going global, facilities are cheaper elsewhere, and AI is allowing businesses to create globally competitive enterprises from any corner of the world.

With a $290 million investment in this underserved space, Tidwell and Dahl are positioning Run Ventures as the go-to Series A partner to entrepreneurial founders across the U.S. and internationally. Innovation is no longer bound by a zip code either. Run Ventures' efforts have enabled tomorrow's category-defining companies to come out of Salt Lake City or Atlanta as out of San Francisco.