Chingona Ventures, a Chicago, IL-based venture capital firm focused on pre-seed funding, closed its second fund, at $52m.
Investors include the Office of the Illinois State Treasurer’s Illinois Growth and Innovation Fund, Melinda Gates Pivotal Ventures, PayPal Ventures, Norwest Venture Partners, Insight Venture Partners, Foundry Group, Synchrony Ventures, The W.K. Kellogg Foundation and Wellington Asset Management are among the other top institutional asset managers.
Founded by Samara Mejia Hernandez, Chingona Ventures makes investments in founders whose backgrounds position them to create businesses in growth markets that are often overlooked-
The Fund will invest primarily within the FinTech, Future of Learning and Health and Wellness industries. Fund II builds on the success of Fund I where 80 percent portfolio companies were managed by diverse CEOs. It will invest in the best founders and work to eliminate bias in deal sourcing.
Hernandez immigrated to the US from Mexico at a young age and grew up in a low-income household. Samara is an engineer by training. She spent the first part of her career at Goldman Sachs, then in the private market working in venture capital. In 2019, she launched Chingona Ventures as a General Partner.