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Impact Engine is a registered investment advisor founded in 2012 and based in Chicago, Illinois. The firm specializes in building and managing venture capital and private equity portfolios that aim to generate positive social and environmental impacts alongside financial returns. Recognized as one of the earliest impact venture funds in the United States, Impact Engine has established a strong reputation for institutional-grade impact investing.
As of February 2024, Impact Engine manages approximately $240 million in assets under management (AUM) across various funds. The firm has developed a diverse portfolio of over 80 companies, focusing on sectors such as healthcare, climate, fintech, and food-agtech. Impact Engine operates from its Chicago headquarters but maintains a national investment scope across the United States.
Impact Engine has evolved from its origins as an impact-investing accelerator into a significant institutional platform, managing multiple funds tailored to the specific objectives of its partners. The firm has successfully closed several funds, including the Impact Engine Private Equity Fund II, which reached a final close of $85 million in February 2024.
Impact Engine employs a comprehensive investment strategy that spans multiple stages, including pre-seed, seed, seed-plus, Series A, Series B, and growth equity. The firm primarily targets sectors that align with its mission of generating measurable social and environmental impact. These sectors include healthcare, biotech, consumer goods, climate technology, fintech, and food-agtech.
The organization emphasizes rigorous impact measurement to ensure that investments not only yield financial returns but also contribute positively to society. Impact Engine seeks to partner with founders who share a commitment to economic opportunity, environmental sustainability, and health equity. The firm crafts bespoke investment vehicles tailored to the specific objectives of its partners, allowing for flexibility in deal structures and co-investment opportunities.
Impact Engine's investment philosophy is rooted in the belief that addressing critical societal challenges can lead to sustainable financial success. The firm actively engages with portfolio companies to optimize their growth while ensuring alignment with their impact-driven mission.
Impact Engine's portfolio includes a diverse array of companies that exemplify its commitment to social and environmental impact. Notable portfolio companies include:
The portfolio spans over 80 companies, reflecting Impact Engine's focus on health equity, economic opportunity, and environmental sustainability. The firm has also backed at least one unicorn, showcasing its ability to identify and support high-potential ventures.
Jessica Droste Yagan - Partner & Chief Executive Officer. Jessica leads Impact Engine and has been instrumental in its growth since its inception. She has been featured in Crain's Chicago Business and is a member of the Chicago Network. Jessica is known for her expertise in impact investing and has a strong background in finance.
Priya Parrish - Partner & Chief Investment Officer. Priya oversees the investment strategy at Impact Engine and played a key role in closing the Private Equity Fund II. Her experience includes working with various investment firms, focusing on impact-driven strategies.
Roger Liew - Partner. Roger is involved in managing the Impact Engine Ventures II fund and has a background in venture capital and impact investing.
Tasha Seitz - Partner. Tasha brings extensive experience in venture capital and impact investing to the team, contributing to the firm's strategic direction.
Demetrius Palmer - Analyst. Demetrius supports the investment team with research and analysis, focusing on identifying promising investment opportunities.
Leslie Polster - Senior Analyst, Finance & Operations. Leslie manages financial operations and analysis, ensuring the firm's financial health and operational efficiency.
Maggie Stohler - Senior Associate. Maggie assists in managing portfolio companies and supports the investment team in various capacities.
Cara Wood - Vice President of Finance and Operations. Cara oversees financial management and operational strategies at Impact Engine, ensuring alignment with the firm's mission.
Founders interested in pitching to Impact Engine should submit their inquiries through the firm's website or directly via email at press@theimpactengine.com. A well-structured pitch deck is essential, and it should include information about the company's mission, market opportunity, competitive landscape, and impact metrics.
Impact Engine prefers pitches that clearly articulate the startup's alignment with its investment thesis, focusing on sectors such as healthcare, climate, fintech, and food-agtech. Founders should also be prepared to discuss their financial projections and how they plan to achieve both financial returns and social impact.
Response times may vary, but founders can expect to hear back within a few weeks. Warm introductions are encouraged, as they can facilitate a more favorable review process.
In February 2024, Impact Engine announced the final close of its Private Equity Fund II, raising $85 million. This fund will focus on lower-middle-market growth investments aligned with the firm's impact-driven mission.
Impact Engine continues to actively deploy capital from its funds, with a steady pipeline of investment opportunities expected due to its partnerships with foundations and institutional investors.
The firm has been featured in multiple publications, including Crain's Chicago Business and Bloomberg, highlighting its role in the impact investing space and its commitment to generating positive social and environmental outcomes.
What are Impact Engine's investment criteria?
Impact Engine invests in companies across various stages, including pre-seed, seed, Series A, Series B, and growth equity. The firm focuses on sectors such as healthcare, climate, fintech, and food-agtech, prioritizing those that align with its mission of generating positive social and environmental impacts.
How can founders pitch to Impact Engine?
Founders can pitch to Impact Engine by visiting their website and submitting inquiries through the contact form or directly via email at press@theimpactengine.com. A well-prepared pitch deck should include details about the company's mission, market opportunity, and impact metrics.
What makes Impact Engine different from other venture capital firms?
Impact Engine distinguishes itself through its dual focus on financial returns and measurable social and environmental impact. The firm employs rigorous impact measurement practices and seeks to partner with founders who are committed to addressing critical societal challenges.
What is Impact Engine's geographic focus?
While based in Chicago, Impact Engine invests nationally across the United States. The firm is open to opportunities that align with its impact-driven mission, regardless of location.
What kind of support does Impact Engine provide to its portfolio companies?
Impact Engine offers strategic guidance, access to a network of institutional partners, and a focus on impact measurement to ensure alignment with its mission. The firm actively engages with portfolio companies to optimize their growth and impact.
What is the size of Impact Engine's funds?
As of February 2024, Impact Engine manages approximately $240 million in assets across multiple funds, including the recently closed Impact Engine Private Equity Fund II, which raised $85 million.
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