Chicago Incubator Announces New $2MM Angel Fund for Local B2B Digital Startups

Build in Chicago!
Build in Chicago!
CHICAGO - June 18, 2024 - PRLog -- Incubator LLC, a software development company based in downtown Chicago, announces a new $2 million angel investment fund for local "business to business" digital technology startups.

"This latest fund demonstrates our continued commitment to the Chicago tech community, and to promoting innovative ways to increase business efficiency," said Holly Urban, CEO and co-founder of Incubator LLC ("Incubator").

Incubator specializes in filling technology, resource, and directional gaps in startup founding teams.  "Our unique approach is often inviting to startup founders," Urban added.

"Our strength lies in the ability to translate business needs into elegantly designed and reliable apps," stated Nic Barthelemy, Chief Technology Officer and fellow co-founder of Incubator.

Incubator has been creating digital business-process solutions in the Chicago Loop since early 2016.  Over the years, the company has successfully launched several affiliated businesses, including RudiCoder serving the international food logistics industry, and EffortlessLegal serving the legal industry.

According to the Incubator website, the company earns equity ownership in select projects by providing bespoke software development, marketing, communications, and other professional services.  Incubator prides itself in its ability "to operate in a lean environment, with a strong focus on efficiency, without compromising quality."

"We are able to leverage our experience and expertise to help bring ideas to market," said Ralph Wutscher, Chief Legal Officer and fellow co-founder of Incubator.

Incubator is interested in and experienced with digital solutions in the legal, food e-commerce, and logistics industries, and focuses on founders who are located in the Chicago area.

Founders should apply by first contacting Incubator through its website.

Incubator has a standard list of items that it would like to see from interested founders.  "These items are common in the venture capital or angel funding industry," stated Urban.

For all companies, Incubator will ask to examine the company's:

-1  Business plan

-2  Resumes (CVs) for all founders

-3  Information about any existing funds already raised

-4  Pitch deck

If a company is already up and running, Incubator will also require:

-1  Profit and loss statements for the last two years

-2  Capitalization table

-3  Projected expenses and revenues for the next twelve months

-4  User acquisition strategy including customer acquisition cost and customer lifetime value

-5  Any trademark registrations, as may be available

-6  Any penetration test or information security audit documentation, as may be available

All submissions will be subject to non-disclosure and confidentiality on the part of Incubator.

Funding is available through "Incubator Holdings LLC", a Delaware limited liability company owned and managed by Urban and Wutscher, as well as through other third-party sources.

More specifically, this latest investment tranche with Incubator Holdings LLC was fully completed in March-May of 2024 by Urban and Wutscher, in accordance with their prior individual funding commitments.  Incubator Holdings LLC will initiate and continue the funding of new and ongoing investments managed by Incubator, including for purposes of international expansion.

Incubator Holdings LLC participates in large funding rounds and issues new funding commitments in which Incubator functions as a separate operating company.

"We will consider joining participatory rounds with other angel and venture capital investors," said Urban.  "However, most often we are asked to consider pre-revenue investments in B2B digital startups in the Chicago area," she added.

Customer Relations
Incubator LLC

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Tags:Chicago Tech, Angel Funding, B2B Innovations
Industry:Information technology
Location:Chicago - Illinois - United States
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