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June 29, 2016

Impact Engine closes its accelerator and a $10 million impact fund

A blurred CTA Brown Line rapid transit train passes across Chicago's Wells Street Bridge and in front of the massive Merchandise Mart illuminated at night on its way to the Merchandise Mart elevated station. Built in 1930, the Mart is located on the north shore of the Chicago River. When built it became the largest building in the world with 4 million square feet of floor space. The art deco-styled landmark continues as a leading retailing and wholesale destination and is so large that it has its own CTA rapid transit station and also had its own ZIP code until 2008. An accelerator that backed for-profit, for-good ventures, Impact Engine, is abandoning the bootcamp approach and shifting its focus to investing in these startups as a seed fund, according to CEO and Partner Jessica Droste Yagan. Based in Chicago’s 1871 startup hub, Impact Engine also closed a $10 million fund to support this pivot. The fund is its fourth, but now Impact Engine will… Read More

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