M25
- Company typePrivate
- Founded2015
- HeadquartersChicago, United States
- Headcount1–10
- GTM typeB2B
- OfferingServices
What M25 does
M25 is an early-stage venture capital firm founded in 2015 and headquartered at 415 N La Salle Dr, Suite #500, in Chicago, Illinois. The firm invests exclusively at the pre-seed and seed stages in tech startups headquartered in the Greater Midwest, a region the firm defines as 13 states and provinces spanning Illinois, Indiana, Ohio, Michigan, Minnesota, Missouri, Wisconsin, Kentucky, Pennsylvania, Nebraska, North Dakota, Iowa, and Manitoba, Canada. After 11 years in operation, M25 reports more than 150 portfolio companies and self-identifies as the most active early-stage investor in the region. The firm's stated investment process is a structured "scorecard" analysis across team, market, product, traction, exit & growth, funding, and business plan, supplemented by syndication, follow-on capital facilitation, and an emphasis on founder-friendly terms. M25's brand identity is anchored in the Parable of the Talents (Matthew 25:14-30), which the firm cites as its stewardship philosophy.
M25 generates revenue through conventional venture capital mechanics: management fees on assets under management across multiple fund vintages (the portfolio site references Fund 1 through Fund 4) and carried interest on portfolio exits. Specific fee structures, fund sizes, and LP composition are not publicly disclosed. Beyond capital, the firm operates a portfolio-support platform that includes the annual Club M25 Summit in Chicago (a two-day investor-founder gathering with a virtual Match Week each spring), the Midwest Startups ecosystem site and job board, a deal-flow intake ("Pitch Us"), and an active blog of "Why We Invested in..." investment announcements. The team is small (9 named members) and lean for a firm of its activity level, comprising 2 Managing/Founding Partners, 1 Partner, 1 Director of Operations, 1 Platform Associate, and 4 Venture Partners, with two of the principals (Victor Gutwein and Mike Asem) being Kauffman Fellows.
The portfolio spans a broad cross-section of B2B and consumer software verticals, with named investments in insurance (Kin Insurance), e-commerce enablement (Loop Returns, Pear Commerce), data infrastructure (Astronomer), healthcare IT and analytics (Authenticx, OneDose), fintech and payments (Branch Pay, Benji, Oath), supply chain (Stock), construction tech (ConstructionClock, Pavewise), and content marketing (Hummingbirds). Recent activity (2025–2026) shows a noticeable tilt toward AI-native and applied-AI companies such as Oath (AI-native audit), OneDose (AI-driven EMS), and Pear Commerce, alongside lead positions in deals like Stock (pre-seed) and follow-on participation in Series A rounds such as Pear Commerce. M25 does not publish revenue, AUM, or fund-size figures, and the firm remains privately held and partner-owned with no parent entity identified.
M25 firmographics
Firmographics- Name
- M25
- Legal name
- M25
- Website
- https://m25vc.com
- Company type
- Private
- Founded year
- 2015
- Operating status
- Operating
- Headcount range
- 1–10 employees
- Ownership category
- akta.pro rank
M25 industry classification
Industry- Product category
- Venture Capital
- NAICS
- Portfolio Management and Investment Advice (523940), Portfolio Management and Investment Advice (52394)
- SIC
- Investment Advice (6282)
- akta.pro primary industry
- Early-Stage Venture Capital (Pre-Seed/Seed) (FSANAAAA)
- akta.pro secondary industry
- Early-Stage Venture Capital (Series A/B) (FSANAAAB)
Keywords
Where M25 is headquartered
LocationHeadquarters
- HQ city
- Chicago
- HQ country
- United States
- HQ region
- North America
Offices1 record
Markets served
M25 business model
Business model- GTM type
- B2B
- Offering type
- Services
- Cost components
- Personnel, Operations, Marketing or Sales, Others
Revenue model
- Venture Capital Fund Management Fees & Carry: As a venture capital firm, M25 generates revenue through management fees on assets under management across its multiple funds (Fund 1, Fund 2, Fund 3, Fund 4 visible on the portfolio page) and through carried interest on exits from portfolio companies. Specific fee structure and economics are not publicly disclosed.
Go-to-market motion1 record
M25 product offering
Product offeringCore offering
M25 is an early-stage venture capital firm based in Chicago that invests exclusively in tech startups headquartered in the Midwest at the pre-seed and seed stages. The firm applies a rigorous scorecard analysis covering team, market, product, traction, exit & growth, funding, and business plan variables. Since launching in 2015, M25 has backed more than 150 portfolio companies across 13 states and provinces, supporting founders with capital, syndication, follow-on networks, and an annual founder-investor Summit.
Product overview
M25's offering is a single unified venture capital service rather than a software platform. The core service is early-stage (pre-seed and seed) venture investing in Midwest-headquartered tech startups, delivered alongside a portfolio of 150+ companies across 13 states and provinces. Supporting this core investment service are several named M25 offerings: the Club M25 Summit (an annual Chicago investor-founder gathering supplemented by a virtual Match Week), Midwest Startups (an external editorial and ecosystem site), the M25 Job Board (a talent network for portfolio companies), Pitch Us (a deal-flow intake), and the M25 Blog (which publishes "Why We Invested in..." announcements such as Oath, Stock, OneDose, and Entravia). Together these offerings form M25's investor platform and portfolio-support services.
Differentiator
Problem solved
Functional benefit
Brands
- Midwest Startups: A separately branded online property operated by M25 covering the Midwest startup ecosystem, with a linked job board at jobs.midweststartups.com.
- Club M25 Summit
Products and services
- M25 Early-Stage Venture Capital Fund An early-stage venture capital fund that invests in tech startups headquartered in the Midwest at the pre-seed and seed stages. Backed 150+ portfolio companies across 13 states + provinces since 2015.
- Club M25 Summit Annual two-day Chicago-based gathering of M25 portfolio companies and investors that facilitates thousands of one-on-one meetings, breakout sessions, speakers, and social dinners, supplemented by a virtual Match Week every spring.
- Pitch Us Submission intake service for Midwest-headquartered pre-seed and seed-stage startups to be considered for M25 investment and reviewed by the M25 team.
Quantifiable outcome
- 150+ portfolio companies funded
- +3 more outcomes
Companies that use M25
Customer profileNamed customers13 records
Ideal customer profiles1 record
M25 technology and API
TechnologyTechnology focussed No
API detail
- Has API
- No
- API docs
- API detail
Core technology
AI maturity
App detail
M25 partnerships and signals
Strategic signalScale indicators5 records
Recent moves6 records
Expansion highlights5 records
M25 competitors and assessment
Company assessmentBroad incumbents
- Techstars: Global accelerator network running multiple programs including in the Midwest. Comparable as a broad incumbent in early-stage investing, though its model is accelerator-based rather than pure seed investing.
Direct peers
- Heartland Ventures: Midwest-focused early-stage venture firm that co-invested with M25 in Pear Commerce's $10M Series A. Direct peer for Midwest seed-stage deal flow.
- Great North Ventures: Early-stage venture firm investing in Midwest founders; co-invested with M25 in rounds such as Benji's $6.25M seed. Direct comparable as a peer Midwest seed investor.
- Lightbank: Chicago-based early-stage venture firm investing in consumer, commerce, and SaaS startups. Comparable for the Chicago-anchored, early-stage Midwest focus.
- Revolution's Rise of the Rest: Steve Case-led seed fund focused exclusively on startups outside of coastal tech hubs, including the Midwest. Directly comparable for the geographic thesis of investing in undercapitalized regions.
- Drive Capital: Midwest-focused venture capital firm headquartered in Columbus, OH, investing across early and growth stages. Comparable for its regional Midwest thesis, though it operates at larger check sizes and later stages than M25's pre-seed/seed focus.
- Chicago Ventures: Early-stage VC firm headquartered in Chicago investing in Midwest technology companies. Directly comparable regional seed-stage peer.
- Dundee Venture Capital: Midwest-focused early-stage investor based in Omaha, NE, actively participating in M25 co-investments (e.g., Pear Commerce $10M Series A). Directly comparable for pre-seed/seed Midwest deal flow.
- gener8tor: Midwest accelerator and early-stage investment platform running multiple cohorts per year across U.S. cities. Comparable for pre-seed Midwest investing and founder-development programs.
- Hyde Park Venture Partners: Chicago-based early-stage venture capital firm investing in Midwest B2B software and tech-enabled services. Most directly comparable Midwest seed/Series A peer; Managing Partner Victor Gutwein was previously a leader at Hyde Park Angels before founding M25.
Market position
Strengths4 records
Weaknesses4 records
Competitive moat5 records
Key risks5 records
Key highlights6 records
Customer concentration
M25 social profiles
Digital presenceM25 financial estimates
Financial estimateRevenue estimate
Valuation estimate
M25 leadership team
Management profileNumber of profiles
Profiles10 records
M25 funding detail
Funding detailFunding overview
Funding rounds
Investors
Funding detail is available on the Subscription and Enterprise plan.Contact sales →
M25 M&A and investment
M&A and investmentM&A
Investments187 records
M&A and investment is available on the Subscription and Enterprise plan.Contact sales →
Frequently asked questions about M25
What does M25 do?
M25 is an early-stage venture capital firm based in Chicago that invests exclusively in tech startups headquartered in the Midwest at the pre-seed and seed stages. The firm applies a rigorous scorecard analysis covering team, market, product, traction, exit & growth, funding, and business plan variables. Since launching in 2015, M25 has backed more than 150 portfolio companies across 13 states and provinces, supporting founders with capital, syndication, follow-on networks, and an annual founder-investor Summit.
Is M25 a public or private company?
M25 is a private company. It is classified as founder individual operated bootstrapped and is currently operating.
When was M25 founded?
M25 was founded in 2015. It employs 1 to 10 people.
Where is M25 based?
M25 is headquartered in Chicago, United States, in the North America region.
How does M25 make money?
One revenue line is on record: venture Capital Fund Management Fees & Carry.
Who are M25's main competitors?
Techstars is listed as a broad incumbent. Direct peers are Heartland Ventures, Great North Ventures, Lightbank, Revolution's Rise of the Rest, Drive Capital, Chicago Ventures, Dundee Venture Capital, gener8tor and Hyde Park Venture Partners.
Does M25 have an API?
No public API is recorded for M25.
What industry is M25 in?
M25's product category is Venture Capital. Its primary akta.pro industry code is FSANAAAA, Early-Stage Venture Capital (Pre-Seed/Seed), with a secondary code of FSANAAAB, Early-Stage Venture Capital (Series A/B). Its NAICS code is 523940 and its SIC code is 6282.