Small logo Subscribe to leading news on impact investing. Learn More
The Brief Originals Dealflow Signals The Impact Alpha Impact Voices Podcasts Agents of Impact Open
What's Next Capital on the Frontier Measure Better Investing in Racial Equity Beyond Trade-offs Impact en las Americas New Revivalists
Local and Inclusive Climate Finance Catalytic Capital Frontier Finance Best Practices Geographies
Slack Agent of Impact Calls Events Contribute
The Archive ImpactSpace The Accelerator Selection Tool Network Map
About Us FAQ Calendar Pricing and Payment Policy Privacy Policy Terms of Service Agreement Contact Us
Locavesting Entrepreneurship Gender Smart Return on Inclusion Good Jobs Creative economy Opportunity Zones Investing in place Housing New Schooled Well Being People on the Move Faith and investing Inclusive Fintech
Clean Energy Farmer Finance Soil Wealth Conservation Finance Financing Fish
Innovative Finance
Personal Finance Impact Management
Africa Asia Europe Latin America Middle East Oceania/Australia China Canada India United Kingdom United States
Subscribe Log In

Impact Engine focuses on the future of work with $25 million second fund

ImpactAlpha, November 18 – Chicago-based Impact Engine has raised a second impact fund to back entrepreneurs preparing and upskilling the U.S. workforce.

The accelerator-turned-fund-manager is armed with $25 million in fresh capital to cut checks of up to $400,000 in software companies like Fixer, an on-demand home maintenance service that employs and trains people from disadvantaged backgrounds; KickUp, a platform listing professional development opportunities for teachers; and Glimpse K12, which helps school districts deploy early education resources more effectively.

Impact Engine is investing in other sectors too, like health (CancerIQ), financial services (Climb Credit) and housing (PadSplit), but sees the most opportunity in tech companies “straddling economic empowerment and education,” partner Tasha Seitz told ImpactAlpha. “I think the conversation about the future of work is driving a lot of that.”

It’s a shift from Impact Engine’s $10 million first fund, which primarily invested in health and edtech startups.

The landscape of tech solutions creating economic opportunity

Impact Engine hit a $10 million first close for the fund last May. It has now reached a final close of $25 million with backing from Trillium Asset Management, the Illinois Growth and Innovation Fund, ImpactAssets, family offices and foundations.

The fund will invest in about 25 companies, with reserves for follow-on rounds.

You might also like...