What Chicago:Blend does

Chicago:Blend is a 501(c)(3) nonprofit organization founded in 2018 and headquartered in Chicago, Illinois, focused on increasing diversity, equity, and inclusion in Chicago's venture capital and entrepreneurial ecosystem. Its core offerings are the Chicago:Blend Venture Fellowship — a four-month, cohort-based program for aspiring VCs from underrepresented backgrounds that has placed fellows at rates cited above 80% — and Venture Club 101, a free three-session program for Chicago-area undergraduates. The organization also produces the region's most comprehensive annual VC Diversity Report (covering 884 employees across 116 Chicago VC firms in the 2022 dataset) and Startup Diversity Report, and it convenes the ecosystem through flagship events such as Blend:Talks, VC Happy Hours, and TechChicago Week programming.

Chicago:Blend does not sell a technology product; its underlying "platform" is a combination of curated programming (VC University curriculum, Blend:Demos demo days, an Alumni Board), data-driven research published annually, and a dense network of sustaining donors and ecosystem partners. Its business model is donation- and grant-driven: funding comes from VC and corporate sponsors organized into Visionary Collective, Catalyst Circle, and Venture Champions tiers, philanthropic grants (TAWANI Foundation, Coleman Foundation, Tech Equity Working Group/GET Cities, RLD Foundation), and individual donors, with all programs delivered free to participants.

The organization is governed by a Board of Directors that includes partners and founders from leading Chicago VC firms (Chicago Ventures, Vitalize VC, Capitalize VC, Cleveland Avenue, Hyde Park VP, Lofty Ventures, OCA Ventures) and ecosystem leaders from World Business Chicago, and is led by CEO Joey Mak (the first executive director, joined 2021) and Senior Director of Programs Salvador Dueñas. In 2023 it received the National Venture Capital Association's DEI Impact Award, and it is currently operating its tenth Venture Fellowship cohort (September–December 2026).

Name

Chicago:Blend

Legal name

Chicago:Blend Group Inc.

Website

https://chicagoblend.org

Company type

Private

Founded year

2018

Operating status

Operating

Headcount range

1–10 employees

Short description

Chicago:Blend is a Chicago-based 501(c)(3) nonprofit that runs the Venture Fellowship, Venture Club 101, and annual VC and Startup Diversity Reports to increase representation in Chicago's venture capital ecosystem, serving aspiring VCs, undergraduates, VC firms, and founders.

Ownership category

akta.pro rank

Product category

Nonprofit Venture Capital Ecosystem Development

NAICS

Professional Organizations (81392), Educational Support Services (61171), Educational Services (611)

SIC

Miscellaneous Publishing (2741)

akta.pro primary industry

Corporate Accelerators & Startup Programs (FSANAHAD)

Keywords

• Venture capital fellowship
• VC diversity research
• Nonprofit community programs
• Entrepreneurship ecosystem
• Workforce diversity initiatives

Headquarters

HQ city

Chicago

HQ country

United States

HQ region

North America

Offices1 record

Markets served

GTM type

B2B and B2C

Offering type

Services

Cost components

Personnel, Operations, Marketing or Sales, Others

Revenue model

1. Donations and Sponsorships: Chicago:Blend operates as a 501(c)(3) nonprofit organization funded through VC and corporate donations, philanthropic grants, individual donors, and community supporters. The organization accepts tax-deductible contributions and offers sustaining donor programs.

Go-to-market motion1 record

Distribution channels1 record

Marketing channels4 records

Core offering

Chicago:Blend is a 501(c)(3) nonprofit that runs fellowship and education programs to train aspiring venture capitalists from underrepresented backgrounds, publishes annual diversity research reports on Chicago's VC ecosystem, and convenes the local VC community through events such as Blend:Talks and Venture Club 101. Its programs include the Chicago:Blend Venture Fellowship, Venture Club 101 for undergraduates, VC Diversity Reports, Startup Diversity Reports, and community events.

Product overview

Chicago:Blend operates as a unified nonprofit organization offering a portfolio of programs centered on advancing diversity, equity, and inclusion in Chicago's venture capital ecosystem. The core offerings consist of the Chicago:Blend Venture Fellowship (a four-month program for aspiring VCs), Venture Club 101 (a free cohort-based program for undergraduates), and research reports on VC and startup diversity. These offerings work together to create a pipeline of diverse talent entering venture capital, measure progress through data-driven reporting, and build community through events like Blend:Talks. The organization also maintains an Alumni Board to sustain engagement with program graduates.

Differentiator

Problem solved

Functional benefit

Products and services

• Chicago:Blend Venture Fellowship A free, four-month, hands-on fellowship program designed to expand access to VC careers for underrepresented professionals. Through peer learning, real-world experience at local VC firms, VC finance training through VC University, and direct exposure to the industry, Fellows build skills, network, and confidence. The program culminates in Blend:Demos, a demo day where graduating Fellows present real-world projects at the intersection of AI and investing.
• Venture Club 101 A free, cohort-based educational program for Chicago-area undergraduates who want to understand how venture capital and startups actually work. Over three intensive Friday sessions, 20 selected students get direct exposure to investors, founders, and operators inside the Chicago tech ecosystem, culminating with participation in TechChicago Week.
• VC Diversity Reports Annual research reports measuring demographic trends among employees at Chicago-area venture capital firms, providing data on gender, racial, and ethnic representation across Chicago's VC workforce.
• Startup Diversity Reports Reports analyzing diversity among venture-backed startups in Chicago, examining founder demographics by race, ethnicity, and gender.
• Blend:Talks Chicago:Blend's flagship community event where graduates of the Venture Fellowship program take the stage to share bold, thought-provoking insights on the latest trends impacting venture capital.

Quantifiable outcome

• 81% of Venture Fellowship fellows actively applying to VC roles have secured positions in the industry
• +2 more outcomes

Segments4 records

Ideal customer profiles3 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Partnerships

Ten partnerships are on record, tiered core.

• 1871coreStrategic or Co-development Partner1871 is Chicago's premier tech hub and serves as an ecosystem partner providing co-working space access for Venture Fellowship participants. Chicago:Blend is developed in partnership with Campus 1871 for the Venture Club 101 program.
• mHUBcoreStrategic or Co-development PartnermHUB is Chicago's premier hardtech innovation center and ecosystem partner. They co-host events with Chicago:Blend including Black History Month celebrations and mHOUSE Summer Happy Hour, and provide co-working space access.
• MATTERcoreStrategic or Co-development PartnerMATTER is a healthcare and technology incubator that serves as an ecosystem partner providing co-working space access for Venture Fellowship participants.
• TechNexus Venture CollaborativecoreStrategic or Co-development PartnerTechNexus hosts events including Pride in Tech and provides TeamWorking co-working space for Chicago:Blend programs and events. They collaborate on TechChicago Week activities.
• World Business ChicagocoreStrategic or Co-development PartnerWorld Business Chicago is a key ecosystem partner collaborating on Venture Club 101 through ThinkChicago and hosting events. They co-sponsored the Black History Month Celebration and partner on diversity reports.
• BLCK VCcoreStrategic or Co-development PartnerBLCK VC Midwest Chapter partners with Chicago:Blend on Black History Month celebrations and other diversity-focused events in the Chicago ecosystem.
• GET CitiescoreStrategic or Co-development PartnerGET Cities (Gender Equality in Tech) is a national initiative that partnered with Chicago:Blend to launch the Chicago Venture Fellows program in 2021 and continues to support scaling efforts through the Tech Equity Working Group.
• V2:VCcoreStrategic or Co-development PartnerV2:VC (formerly VentureUp) is a peer community for rising VCs in Chicago that partners with Chicago:Blend on VC Happy Hour events and other programming.
• P33/TechRisecoreStrategic or Co-development PartnerP33's TechRise program partners with Chicago:Blend for TechChicago Week and programming. P33 is involved in Chicago tech ecosystem development.
• Polsky CentercoreStrategic or Co-development PartnerPolsky Center for Entrepreneurship & Innovation at the University of Chicago partnered with Chicago:Blend on startup diversity data and research, including the 2022 Startup Diversity Survey.

Scale indicators9 records

Recent moves6 records

Expansion highlights5 records

Emerging players

• Break Through Tech: Initiative expanding pathways into tech and AI careers for women and underrepresented students through skills training and industry placement. Comparable in mission and target population, though focused on technical rather than VC roles.
• Girls Who Invest: Nonprofit increasing women's representation in portfolio management and investing through intensive summer programs. While focused on buy-side investing, it shares the workforce-pipeline-development DNA of Chicago:Blend's fellowship.
• SEO (Sponsors for Educational Opportunity): Nonprofit providing educational and career development programs for underrepresented students, including pathways into finance. Comparable as a fellowship-to-career model serving similar underrepresented populations.

Direct peers

• BLCK VC: National nonprofit expanding Black representation in venture capital through community building, fellowships, and industry resources. BLCK VC partners with Chicago:Blend on Black History Month events and shares the same VC diversity mission, making it the most direct peer.
• HBCUvc: Nonprofit that trains students and early-career professionals from HBCUs and other underrepresented backgrounds to become VCs. Runs fellowship-style programs analogous to Chicago:Blend's Venture Fellowship.
• All Raise: Nonprofit organization focused on increasing diversity and equity in venture capital and tech, particularly for women and non-binary investors and founders. Operates chapters in multiple cities, overlapping directly with Chicago:Blend's mission and community-led GTM.
• VC Include: Nonprofit coalition promoting diversity, equity, and inclusion in venture capital through industry research and engagement. Closely comparable given shared research-report approach and VC-industry focus.

Others

• Ewing Marion Kauffman Foundation: Major philanthropic foundation supporting entrepreneurship and ecosystem research, including VC diversity initiatives. Comparable as a funder and ecosystem-builder but operates at national foundation scale rather than program delivery.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat5 records

Key risks1 record

Key highlights7 records

Customer concentration

• Xx.com/chicago_blend

Revenue estimate

Valuation estimate

Number of profiles

Profiles4 records

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Chicago:Blend