Startup investors in Chicago
The angel groups, venture firms and programs that take applications from Chicago and Midwest founders, what each publishes about itself, and how to reach it.
All amounts are in US dollars.
Who invests in startups in Chicago?
Chicago founders can apply to alumni-run angel groups such as the Chicago Booth Angels Network and Harvard Business School Angels of Chicago, both of which take applications through Gust. Chicago Ventures leads early rounds, Techstars runs a Chicago accelerator, and mHUB supports hardware and physical product startups. Hyde Park Angels is a Chicago early-stage investor focused on the Midwest; its site doesn't publish a founder application.
Angel networks in Chicago
| Network | How it works | Who it looks for | Fees | How to apply |
|---|---|---|---|---|
| Chicago Booth Angels Network | Alumni-run group tied to the University of Chicago Booth School of Business; 60 members on its Gust page | US-based early-stage companies with a product, paying customers and recurring revenue, at a post-money valuation up to $15 million | Not published | Apply for Funding on its Gust page |
| Harvard Business School Angels of Chicago | Quarterly screening of applications | Early-stage companies in any sector, founded by Harvard or non-Harvard alumni | $50 application fee | Apply for Funding on its Gust page |
Funds that invest in Chicago startups
| Fund | Stage | Published first cheque | Focus and eligibility | How to pitch |
|---|---|---|---|---|
| Chicago Ventures | Early rounds; leads and takes board seats | Not published | Sectors including supply chain, healthcare, fintech, enterprise tools, proptech and mobility | No pitch route published |
| Hyde Park Angels | Early stage | Not published | Midwest | No founder application published |
Programs that put founders in front of investors
- Techstars Chicago. Open to founders in any industry. Final deadline November 18, 2026; the program starts March 8, 2027, with demo day June 3, 2027. Includes downtown Chicago office space for up to a year. Techstars invests $220,000 at acceptance.
- mHUB. A nonprofit hardtech centre with prototyping labs and accelerator tracks in energy tech, medtech and sustainable manufacturing. Its HardTech Venture Capital arm invests in seed and early-stage physical product startups; terms aren't published on its homepage.
Which route fits your company?
| If your situation is… | Look at | Why |
|---|---|---|
| US company with recurring revenue, valued up to $15 million post-money | Chicago Booth Angels Network | Its published criteria |
| Early-stage, any sector | HBS Angels of Chicago | Its stated focus |
| Any industry, want a three-month program with investment | Techstars Chicago | Its published program |
| Hardware or physical product | mHUB | Its stated focus |
Meeting an organization's criteria means you can apply, not that it will invest.
Check the valuation cap first.
Chicago Booth Angels states a post-money ceiling of $15 million. If your round prices above it, save the application.
What should you have ready before you apply?
- A Gust profile, used by both alumni angel groups.
- Revenue figures showing recurring revenue, for Chicago Booth Angels.
- Your Techstars application before November 18, 2026, if you're applying for the 2027 program.
For how to run the raise itself, see how to raise a seed round.
Frequently asked questions
Do I need to be a Harvard alum to apply to HBS Angels of Chicago?
No. It invests in companies founded by Harvard and non-Harvard alumni.
Is Techstars Chicago focused on one industry?
No. It says it isn't industry or vertical focused and welcomes all founders.
When does Techstars Chicago start?
The 2027 program starts March 8, 2027. The final application deadline is November 18, 2026.