M25 Group, a partner of Purdue Foundry, announces its $10m second fund that will enable the firm to invest in 20 companies per year for the coming three years.
M25 Group, a US-based venture capital firm co-founded by a board member of Chicago University’s first student-run venture fund, has announced a $10m second fund.
The commitments for the new fund come from approximately 30 limited partners, all of which remain undisclosed.
M25 Group plans to make 20 investments per year for the next three years.
The firm invests in startups that are based in the American Midwest. It has no specific focus on sectors as it is looking to build an index fund style portfolio.
M25 co-invests in larger rounds alongside bigger firms and has also worked on developing relationships with universities. In May 2016, the firm partnered Purdue Foundry, the commercialisation and entrepreneurship arm of Purdue University.
Jennifer Brandel, co-founder and chief executive of M25 Group portfolio company Hearken, said: “M25 Group has been an incredibly supportive partner, we feel lucky to have such a grounded group of investors on a mission to support the good work and innovation born from the mid-west.”
Hearken develops a software-as-a-service platform for journalists.
