Vessel launches new Studio Fund to build the Midwest’s next great startups
Will Zell, Managing Partner of Vessel
Vessel, a Midwest-based venture investment firm founded by operators, announced the first close of its Flagship Studio Fund — an institutional capital vehicle designed to build, not just back, the next generation of high-growth startups in Ohio and the broader Midwest.
Driving the news
The new fund is anchored by a lead investment from The O.H.I.O. Fund, a private investment firm focused on scaling Ohio-based innovation. Over the next three years, the Studio Fund will launch six companies from scratch, each powered by dedicated founding teams and supported by Vessel’s internal operating infrastructure across product, sales, finance, and talent.
Why it matters
The venture studio model — which develops startups in-house before spinning them out — is gaining traction nationally but remains rare in the Midwest. Vessel is positioning itself as a first mover in the region by blending institutional investment discipline with full-time operator support.
“This fund isn’t just about investing in innovation, it’s about constructing it,” said Will Zell, Managing Partner of Vessel. “Our studio platform is purpose-built to move from idea to product/market fit with speed, structure, and scale.”
Backed by Ohio’s top investors
Mark Kvamme, CEO of The O.H.I.O. Fund, said the firm was drawn to Vessel’s operator-led approach.
“Vessel’s studio model is exactly what the Midwest needs, and Ohio is the right place to build it,” Kvamme said. “Their team and playbook are world-class.”
Meet Heylo
The fund’s first startup is Heylo, a Cincinnati-based remote support platform for individuals with intellectual and developmental disabilities (I/DD). Built inside the Vessel studio, Heylo enables 24/7 virtual assistance for I/DD service providers and caregivers through a combination of intuitive software, reliable hardware, and high-touch service. Top line details include:
The company has already secured early customers in Kansas and New York.
Its launch is supported by state innovation grants.
A public debut is planned for August.
The big picture
Vessel’s broader platform includes Carto Advisory, a consulting arm for founders and executives, and the United States Angel Collective, a multi-state angel syndicate. The firm’s thesis is clear: accelerate the early-stage pipeline in overlooked markets by pairing operational support with smart capital.
What’s next
With more startups on deck and institutional capital in hand, Vessel is positioning Ohio as a proving ground for a new kind of venture building — one rooted in regional talent, practical innovation, and national ambition.
Learn more at buildvessel.com, heylo.tech, and theohiofund.com.