Chicago, IL-based Impact Engine has launched a $10m impact investment fund.
Limited partners include over 80 professionals comprising venture capitalists Matt McCall (Pritzker Group) and Kevin Willer (Chicago Ventures), entrepreneurs Mike Evans (GrubHub) and Christian Rudder (OkCupid), and impact investors Irene Pritzker (IDP Foundation) and Shradha Agarwal (Jumpstart Ventures), Crate & Barrel co-founder Gordon Segal, OkCupid co-founder Sam Yagan, TrunkClub co-founder Brian Spaly, Protein Bar founder Matt Matros, and Chicago food executive Larry Levy.
Managed by partners Jessica Droste Yagan, CEO, and Tasha Seitz, Chief Investment Officer, Impact Engine will work to support and scale early-stage technology companies dedicated to improving education, health, economic empowerment and resource efficiency in Chicago and around the world.
The fund will invest between $25k and $250k in approximately 25 early-stage technology companies.
Initial investments from this fund will be made through 2018 and overseen by Droste Yagan, Seitz and an investment committee comprised additionally of Impact Engine chairman Chuck Templeton, co-founders Linda Darragh and Jamie Jones, Greg Lernihan, Steve Miller and Dan Ratner.
To date, the fund has invested in:
– Classroom IQ, an online assessment and grading platform,
– DevelopLink, a market research platform for healthcare professionals in emerging markets,
– Fletch, a college retention solution,
– Luna Lights, a fall-prevention solution for seniors,
– Regroup Therapy, a virtual mental and behavioral health provider, and
– Skill Scout, an HR services company.
Prior to this fund, Impact Engine invested nearly $700k in 23 for-profit impact companies through its accelerator programs. To date, its portfolio companies have attracted $32.4m in investment and $2.6 million in philanthropic funding.
FinSMEs
29/06/2016