2024 State of Gaming Report
The digital revolution has touched us all, bringing extraordinary services to our finger tips and improving our lives in ways that would have been inconceivable just a short time ago. In recent years, Chicago has seen a variety of new technology companies explode onto the digital scene. While Groupon has understandably garnered a huge amount of attention on its own, there have been many other successful Chicago startups, some since acquired but many others still growing rapidly and independently in a variety of fascinating digital sectors. Every week, it seems, a new digital company is born in Chicago.
Recognizing the importance of capital to early stage companies, but also the critical role that an experienced mentor can play in helping a CEO navigate turbulent early stage waters, a group of founders from Chicago have come together to found and fund a unique venture capital effort: The Chicago FireStarter Fund. The fund has $5.7 million in committed capital from 42 founding members. The founders each have a successful track record in starting and growing digital companies and bring investment capital plus extensive management experience to the fund. I’m delighted to be one of the fund’s founders, helping Chicago-area entrepreneurs as best I can.
Comscore’s roots were seeded here in Chicago when my co-founder Magid Abraham and I first met while both working for Information Resources (IRI), so it’s a pleasure for me to be able to help other Chicago area founders as they build their businesses. The Chicago area has long been associated with successful information and technology companies, with Comscore, IRI and Groupon immediately coming to mind. Who knows, maybe even the next $5 billion IPO will be one of the portfolio of companies funded by FireStarter!
The fund will focus its investments in companies that are:
FireStarter is a self-managed group and does not have a professional staff. As a result there are no carried interests or fees paid to anyone. There are four administrative members that help to funnel deal flow to the appropriate members, oversee the voting process for investment decisions and authorize cash disbursements when the members decide to invest in a company. The fund is fortunate to have Brian Hand playing a key role, both as an investor and as one of the four administrative members. I have a great deal of respect for Brian because he has been successful as both an entrepreneur (he founded ShopLocal here in Chicago some twelve years ago) and because prior to that he was the Vice Chairman and ran investment research and corporate finance at First Analysis, one of Chicago’s most successful VC firms. The fund is fortunate to have him.
FireStarter will source investments directly from through its member network and through its relationships with many venture funds, entrepreneurs and industry leaders Companies that would like to apply for a potential investment by FireStarter can find all of the relevant information here.