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M25

North America, Illinois, United States, Chicago

Description

M25 is a prominent early-stage venture capital firm based in Chicago, Illinois, distinguished by its dedicated focus on startups headquartered across the Midwest region of the United States. Recognized as one of the most active early-stage VCs in this geographic area, M25 plays a crucial role in fostering the burgeoning tech ecosystem outside traditional coastal hubs. The firm's investment thesis centers on identifying and supporting promising companies across a diverse range of industries within the 14 states that comprise its target market.

The firm primarily targets pre-seed and seed-stage companies, often serving as the inaugural institutional investor for its portfolio companies. M25's typical initial investment ranges from $250,000 to $1,000,000, providing essential early capital to help startups achieve critical milestones and attract subsequent funding rounds. This strategic approach allows M25 to build strong relationships with founders from the earliest stages, offering not just capital but also strategic guidance and network access.

M25 boasts an extensive and diverse portfolio, having invested in over 100 companies since its inception. These companies span various sectors, reflecting the firm's broad industry agnostic approach within its regional focus. A testament to the success of its investment strategy, M25's portfolio companies have collectively gone on to raise more than $1.5 billion in follow-on funding from a wide array of investors. This significant capital infusion underscores the quality of the startups M25 backs and its effectiveness in catalyzing their growth within the Midwest's vibrant entrepreneurial landscape.

Investor Profile

M25 has backed more than 153 startups, with 7 new investments in the last 12 months alone. The firm has led 23 rounds, about 15% of its total and boasts 22 exits across its portfolio.

Investment Focus Highlights

  • Concentrates on Seed, Series A, Pre Seed rounds (top funding stages).
  • Majority of deals are located in United States.
  • Strong thematic focus on Software, Health Care, SaaS.
  • Led 3 rounds in the past year.
  • Typical check size: $250K – $1M.

Stage Focus

  • Seed (61%)
  • Series A (21%)
  • Pre Seed (8%)
  • Series B (3%)
  • Series Unknown (3%)
  • Debt Financing (1%)
  • Convertible Note (1%)

Country Focus

  • United States (99%)

Industry Focus

  • Software
  • Health Care
  • Saas
  • Information Technology
  • Enterprise Software
  • E-commerce
  • Analytics
  • Insurance
  • Mobile
  • B2b
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FAQ

Frequently Asked Questions

Learn who this investor regularly partners with—both firms and angels—and explore their latest activity.

Who does M25 frequently co-invest with?

Service Provider Capital
North America, Colorado, United States, Golden
Co-Investments: 11
Dundee Venture Capital
North America, Nebraska, United States, Omaha
Co-Investments: 14
HPA (Hyde Park Angels)
North America, Illinois, United States, Chicago
Co-Investments: 9
Cultivation Capital
North America, Missouri, United States, St Louis
Co-Investments: 8
Fulcrum Investing
North America, Illinois, United States, Chicago
Co-Investments: 9
SC
North America, Illinois, United States, Chicago
Co-Investments: 8
Bread and Butter Ventures
North America, Minnesota, United States, Minneapolis
Co-Investments: 9
MATH Venture Partners
North America, Illinois, United States, Chicago
Co-Investments: 12
IN
North America, Nebraska, United States, Lincoln
Co-Investments: 8
Allos Ventures
North America, Indiana, United States, Carmel
Co-Investments: 8

Which angels does M25 often collaborate with?

BG
North America, California, United States, San Francisco
Shared Deals: 1
AK
North America, Maryland, United States, Bethesda
Shared Deals: 1
MB
North America, United States
Shared Deals: 3
Daren Cotter
North America, Minnesota, United States, Saint Paul
Shared Deals: 8
BM
North America, California, United States
Shared Deals: 1
CB
North America, Indiana, United States, Indianapolis
Shared Deals: 1
IG
North America, Indiana, United States, Indianapolis
Shared Deals: 1
AI
North America, California, United States, San Francisco
Shared Deals: 1
AY
North America, California, United States, Orange
Shared Deals: 1
Dan Teran
North America, New York, United States, New York
Shared Deals: 1

What are some of recent deals done by M25?

Chipp

Fargo, North Dakota, United States

No-code AI agent builder

SeedJul 23, 2025
Amount Raised: $2,000,000

MOONNOX, Inc. is a Technology company that resolves and simplifies the process of inquiries from your customers, partners, or employees.

SeedJun 24, 2025
Amount Raised: $2,000,000
Prediction Guard

Lafayette, Indiana, United States

Prediction Guard offers a secure GenAI platform that protects sensitive data and integrates easily into software applications.

Artificial Intelligence (AI)SoftwareSoftware Engineering
SeedMay 13, 2025
Amount Raised: $3,700,000
Benji

New York, New York, United States

Benji helps businesses enhance conversion rates and profitability by providing clients with a new way to pay using rewards points.

AnalyticsDeveloper APIsLoyalty Programs
SeedFeb 27, 2025
Vigil

Columbus, Ohio, United States

Vigil is a SaaS data platform for annuity carriers and distributors.

CollaborationInformation TechnologySaaSSoftware
Pre SeedFeb 10, 2025
Amount Raised: $1,300,000
Hummingbirds

Des Moines, Iowa, United States

We're a SaaS-enabled marketplace that helps brands find & work with local content creators and influencers.

SaaS
SeedOct 30, 2024
Amount Raised: $5,400,000
Top Tier Lessons

Champaign, Illinois, United States

3-Sided Sports Marketplace, Sports Lessons from College Athletes

EdTechMarketplaceSports
Pre SeedSep 10, 2024
Amount Raised: $520,000
Continuum

Chicago, Illinois, United States

Continuum is a technology firm specializing in digital networks for B2B distributors and manufacturers.

B2BManufacturingRetailSoftwareWholesale
SeedAug 26, 2024
Amount Raised: $4,100,000
Pear Commerce

Minneapolis, Minnesota, United States

Pear simplifies retail marketing by connecting CPG advertisements directly with retailers.

Marketing
Series AJun 27, 2024
Amount Raised: $10,000,000
Continuum

Chicago, Illinois, United States

Continuum is a technology firm specializing in digital networks for B2B distributors and manufacturers.

B2BManufacturingRetailSoftwareWholesale
Pre SeedApr 23, 2024
Amount Raised: $1,700,000