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Chicago Early Growth Ventures (CEGV) is a venture capital firm based in Chicago, Illinois, focused on seed-stage investments in early-stage startup companies across the United States. Established around 2019, CEGV aims to enhance the local startup ecosystem while also considering investments from companies nationwide and globally. The firm emphasizes its connection to Chicago, particularly favoring startups founded by alumni of local universities such as Northwestern University, the University of Chicago, and Loyola University.
Currently, CEGV manages a portfolio of 66 companies, reflecting its commitment to supporting a diverse range of startups. The firm operates with a small team of two principals, Jeffrey Eschbach and Brian Crump, who bring complementary expertise to the investment process. CEGV's strategy includes making multiple smaller investments rather than fewer larger ones, allowing for a broader reach within the startup community.
CEGV primarily invests at the seed stage, targeting a variety of sectors with a strong emphasis on consumer-focused startups. The firm is particularly interested in companies that have a connection to Chicago, whether through their founders or lead investors. This community-oriented investment approach allows CEGV to leverage the rich academic and entrepreneurial landscape of the region.
The check size range for investments varies significantly, with Eschbach focusing on smaller amounts between $10K and $100K, while Crump typically engages in seed rounds ranging from $100K to $1M. This flexibility enables CEGV to support a wide array of startups, fostering innovation and growth within the local ecosystem while also being open to national and international opportunities.
Chicago Early Growth Ventures has built a diverse portfolio of 66 companies, showcasing its commitment to early-stage investment. Notable portfolio companies include:
CEGV's portfolio reflects its strategy of supporting startups with strong ties to the Chicago area, while also maintaining a diverse range of sectors and business models.
Jeffrey Eschbach - Entrepreneur and Tech Innovator. Eschbach has a background in technology and entrepreneurship, focusing on early-stage investments. He has led various notable deals and is known for his expertise in micro and angel-sized investments.
Brian Crump - Attorney at Neal, Gerber & Eisenberg LLP. Crump specializes in venture capital and corporate law, providing legal expertise to the firm. His experience in seed rounds and investment structuring complements Eschbach's focus on smaller investments.
To pitch Chicago Early Growth Ventures, startups should use the preferred channel, which is the Company Intake Form. Founders should include essential information in their pitch deck, such as the business model, market analysis, and team background. CEGV typically responds to inquiries within a reasonable timeframe, but founders are encouraged to follow up if they do not receive a response.
Warm introductions are preferred, especially from mutual connections within the Chicago startup ecosystem, as this can enhance the likelihood of a successful pitch.
In recent months, Chicago Early Growth Ventures has been active in the startup community. They led a $2M Seed round for SmartCert, collaborating with Synetro Group and TitletownTech. Additionally, CEGV participated in a $4.2M Seed round for iAsk, which was led by Corazon Capital. These investments reflect CEGV's ongoing commitment to supporting early-stage startups.
As of October 2024, CEGV has maintained an active pace, averaging two new investments per year over the past five years, indicating a consistent strategy in deploying capital within the startup ecosystem.
What are Chicago Early Growth Ventures' investment criteria?
CEGV primarily invests in seed-stage startups, particularly those with connections to the Chicago ecosystem. They look for companies founded by local university alumni or those with lead investors based in Chicago.
How can startups apply or pitch to CEGV?
Startups seeking funding can submit their information via the Company Intake Form on their website. Additionally, inquiries can be directed to their email at info@chicagoearly.com.
What makes CEGV different from other venture capital firms?
CEGV emphasizes smaller investments and a community-oriented approach, focusing on startups with ties to the Chicago area. This strategy allows them to leverage local resources and networks effectively.
What is the geographic scope of CEGV's investments?
While CEGV has a primary focus on Chicago-based companies, they are open to considering startups from anywhere in the United States and globally.
What is the typical check size for investments?
CEGV's check sizes vary widely, with investments ranging from $10K to $1M, depending on the specific needs of the startup and the principal involved.
What kind of post-investment involvement does CEGV have?
CEGV actively engages with its portfolio companies, providing mentorship, access to resources, and potential partnerships within the Chicago startup ecosystem.
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