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Chicago’s Impact Engine raises $10 million for new fund



ImpactAlpha, May 30 – Impact Engine, the Chicago-based impact investment firm, raised the capital from 32 unnamed investors as part of a new $25 million fund, according to an SEC filing.

Impact Engine started in 2011 as an accelerator for social impact startups. It ran a four-month program that incubated and invested in 23 companies before closing the program in 2016.

“The accelerator required teams to be in Chicago for four months, and had a once-a-year application process” that constrained Impact Engine’s investment options, Impact Engine’s Jessica Droste Yagan told TechCrunch at the time.

Impact Engine simultaneously raised a $10 million fund, backed by 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.

  • Investor first… Impact Engine Ventures II is Impact Engine’s second fund since dropping its accelerator business two years ago, and its fifth fund in total. It expects to close the fund within 12 months.
  • Portfolio companies… Impact Engine has previously invested in a mix of education, health, economic empowerment, and resource efficiency startups, including: Edovo, BookNook, The Graide Network, Measurabl and Full Harvest.
  • Impact tech opportunity series... Impact Engine has shared its analyses on the impact opportunities in edtech, resource efficiency and economic empowerment.

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