USA – mHUB, a Chicago, IL-based independent hardtech and manufacturing innovation center, closed its $15M mHUB Product Impact Fund I, LP.
The fund was raised across 79 limited partners, mainly individual investors and some institutions. Led by Mark Tebbe, Israel Idonije, Steve Koch, Melissa Lederer, and Haven Allen, The mHUB Product Impact Fund is currently investing in seed and early-stage hardtech companies accepted into the six-month mHUB accelerator program and has constructed half its portfolio with 26 investments to date. It’s anticipated that the portfolio will be fully constructed by 2024 with its initial round of investments and will make follow-on investments up to $750k in select portfolio companies.The fund’s current portfolio has companies developing solutions from carbon capture and thermal cooling to sepsis diagnostics and devices for remote monitoring of drug delivery. The mHUB Product Impact Fund received early support from the U.S. Department of Commerce Economic Development Administration through the Regional Innovation Strategies (RIS) Program. 12/09/2022
