M25 is an early-stage venture firm based in Chicago, investing exclusively in tech startups headquartered in the Midwest. The firm utilizes an analytical, data-driven approach to reduce risk and has invested in 150+ companies across 14 states since its inception in 2015.
Deal activity decreased year-over-year (2 deals in the last 12 months vs 6 prior). Their most common stage is seed (45% of deals). Average disclosed round size is $5.7M (across 66 rounds with reported amounts).
Portfolio
58
Fund Size
—
Top Stage
Seed
Last 12 Mo
2
Team
Portfolio Breakdown
Stage Distribution
Sector Distribution
Investment Activity
DealsAvg Round Size
Portfolio
67 investments
| Company | Round | Amount | Date |
|---|---|---|---|
 Benji | Seed | $6.3M | Jan 2026 |
 Pavewise | Seed | $2.5M | Oct 2025 |
 Swept.AI | Pre-Seed | $1.4M | Aug 2025 |
 Continuum | Seed | $4.1M | Nov 2024 |
 Hummingbird | Seed | $5.4M | Oct 2024 |
 Hummingbirds | Seed | $5.4M | Oct 2024 |
 Pear Commerce | Series A | $10M | Jun 2024 |
 Continuum Global Solutions | Pre-Seed | $1.7M | Apr 2024 |
| Continuum | Pre-Seed | $1.7M | Apr 2024 |
 Redi.Health | Series B | $14M | Feb 2024 |
 Tesouro | Series B | $14.4M | Jan 2024 |
 Elate | Series A | $4.9M | Mar 2023 |
| Hummingbirds | Seed | $3.3M | Jan 2023 |
 Axuall | Series B | $20M | Jan 2023 |
 Opendorse | Unknown | $20M | Dec 2022 |
| MMvmnt | Series A | $20M | Oct 2022 |
| WWorkshop | Seed | $5.2M | Jul 2022 |
 Apfusion | Seed | $6.5M | Jul 2022 |
 Whistle | Seed | $3.2M | Mar 2022 |
 Rebundle | Pre-Seed | $1.4M | Jan 2022 |
 Whipz | Pre-Seed | $1.8M | Jan 2022 |
 Blumira | Series A | $10.3M | Aug 2021 |
| Axuall | Series A | $10.4M | Jul 2021 |
 Upsie | Series A | $18.2M | May 2021 |
 Trava Security | Seed | $3.5M | Jan 2021 |
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Top Co-Investors
Service Provider Capital14 shared
HPA6 shared
Techstars6 shared
Dundee Venture Capital5 shared
Matchstick Ventures4 shared
Backstage Capital4 shared
Hyde Park Venture Partners4 shared
Next Level Ventures4 shared
ISA Ventures4 shared
MATH Venture Partners4 shared
Silicon Valley Bank3 shared
Cambrian Ventures3 shared
Menlo Ventures3 shared
Debut Capital3 shared
S3 Ventures3 shared
FJ Labs3 shared
Nelnet3 shared
Elevate Ventures2 shared
Flywheel Fund2 shared
Bread & Butter Ventures2 shared
Last updated: 7 September 2026