The venture firm’s second fund has secured a $20m commitment from the International Finance Corporation, bringing the vehicle to $250m.
The Engine, the venture firm and tough tech incubator formed by Massachusetts Institute of Technology (MIT), added $20m in capital to its Fund II today thanks to the International Finance Corporation, the private sector arm of the World Bank.
The fund secured an initial $230m from limited partners including MIT and Harvard University in October 2020.
Katie Rae, chief executive and managing partner of The Engine, said: “Tough tech is critical to addressing significant global challenges, but…
