One of the best features of the Chicago tech ecosystem is its commitment to investing in itself, and one of the city’s most influential investors is gearing up to do a whole lot more of that.
According to an SEC filing made last week, Chicago Ventures is raising a third fund to the tune of $75 million. The SEC filing does not list any investments at the time of the filing, but according to Crain’s, the Illinois Growth and Innovation fund is making a $7.5 million investment.
When contacted by Built In, Chicago Ventures declined to comment on the filing.
When the fund closes, Chicago Ventures will have raised $181 million to date. The company has previously raised a $66 million fund in 2016, and a $40 million fund in 2013.
The firm, founded in the summer of 2012, has made more than 122 investments in its lifetime, including contributions to Chicago startups like Cameo, SpotHero, Kin and HealthJoy
Additionally, Chicago Ventures has overseen 21 successful exits of companies including Pluto TV, Curbside and Rocketmiles.
The firm is currently led by co-founder and Partner Stuart Larkins and Partner Kevin Willer. The team has consistently invested in promising, early-stage startups located in Chicago and the Midwest. The firm’s investments are spread across enterprise and consumer-focused startups, which span verticals including e-commerce, payments and software-as-a-service.
As Crain’s points out, it’s been a busy spring for Chicago VC firms: MATH Venture Partners is fresh off of a $46 million second fund, while Hyde Park Venture Partners is close to finalizing its $85 million third fund.
