Chicago Ventures Closes $66M Fund II to Continue Investing in Seed Stage Tech Startups
Chicago Ventures, a seed stage venture capital firm that invests in tech-enabled startups, today announced the close of its $66M Chicago Ventures Fund II. With over $100M under management, the firm leads or participates in the first institutional rounds of capital raised by early-stage companies in Chicago and the central part of the country, and continues to be supported by successful local entrepreneurs. To date, Chicago Ventures Fund II has invested in 27 companies, almost half of them located in Chicago.
The team has also added to its roster of Entrepreneur Partners / Advisors, which includes Signal’s Eric Lunt, OkCupid’s Sam Yagan, Trunk Club’s Brian Spaly, and SteelBrick’s Godard Abel.
Chicago Ventures works closely with its portfolio companies through operational assistance; strategic introductions to late-stage investors, customers, and talent; and investments in follow-on rounds (the firm has the highest follow-on rate for all micro-VCs outside of the coasts, according to CB Insights).
Chicago Ventures announced its first $40M Fund in 2013, funding companies including SpotHero and Shiftgig, which have gone on to raise $27.5M and $36M, respectively.