# M25: portfolio, investments and team

> M25 is a vc firm based in United States. 115 investments on record, 13 in the last 12 months, latest Sept 2026. Portfolio, stages, co-investors and team.

Source: https://millionrounds.com/fund/m25 (Millionrounds; every figure on the page links to its filing or article)

United States · [Investor](https://millionrounds.com/investors)

# M25

Last cheque observed Sep 2026; 115 cheques on record.

Email

Deploying now New fund $28M, Dec 2024 VC firm

Pre-seed Seed Series A Finance Insurance Supply Chain

Follow M25 and see its new cheques in your feed. [Start following](https://millionrounds.com/login?join=1&why=follow&next=%2Ffund%2Fm25)

Deploying now

**76%** of best year **13** **cheques in 12 months**, 115 on record

Since the last cheque **60** days **00** hrs **00** min **00** sec

Median round **$2.2M** Cheque size, as they say **$250K – $500K** Rounds led **1 of 115** Sole investor **12 rounds** Mostly in **United States, 92%**

Pitch M25

## M25 highlights

- 01 13 cheques in the last 12 months
- 02 Mostly Seed and Venture: 78% of its rounds
- 03 Sole investor in 12 rounds, median $700K

## What they do

> M25 is an early-stage venture firm based in Chicago, investing exclusively in tech startups headquartered in the Midwest. From their own website

- **Type:** VC firm (from a list, unverified)
- **Cheque size:** $250K – $500K as they say
- **Stages:** Pre-seed Seed Series A
- **Sectors:** Finance Insurance Supply Chain
- **Based in:** Chicago, United States
- **Cold pitches:** Accepted

## The record

Every round we can evidence, newest first **115 appearances**

- **2026** 11 rounds
- **Sept** **[Noise](https://millionrounds.com/company/noise)** Seed · US · Cultivation Capital **$7.2M** With 3 others
- **Sept** **[Aerovy](https://millionrounds.com/company/aerovy)** Venture · US **$6.4M** With 1 other
- **Jul** **[ConstructionClock](https://millionrounds.com/company/constructionclock)** Debt · CA **$332K** With 1 other
- **Jul** **[Immigify](https://millionrounds.com/company/immigify)** Pre-seed · US **$1.0M** With 3 others
- **Jul** **[Trava Security](https://millionrounds.com/company/trava-security)** Venture · US **$7.0M** With 2 others
- **May** **[EnsoData](https://millionrounds.com/company/ensodata)** Venture · US **Undisclosed** With 4 others
- **May** **[Benji](https://millionrounds.com/company/benji)** Seed · US **$6.3M** With 2 others
- **Apr** **[Whipz](https://millionrounds.com/company/whipz)** Seed · US **$250K** With 2 others
- **Mar** **[Continuum](https://millionrounds.com/company/continuum)** Venture · CA **$7.2M** With 2 others
- **Mar** **[Chipp](https://millionrounds.com/company/chipp)** Grant · US **$50K** With 2 others
- **Feb** **[Get Bizzy](https://millionrounds.com/company/get-bizzy)** Debt · US **$1.8M** With 3 others
- **2025** 16 rounds
- **Dec** **[ConstructionClock](https://millionrounds.com/company/constructionclock)** Seed · CA **$1.4M** Sole investor
- **Nov** **[EnsoData](https://millionrounds.com/company/ensodata)** Series B · US · Colle Capital Partners **$20M** With 1 other
- **Oct** **[Pavewise](https://millionrounds.com/company/pavewise)** Seed · US **$2.5M** With 4 others
- **Oct** **[Self Fund Health](https://millionrounds.com/company/self-fund-health)** Seed · US **$1.4M** Sole investor
- **Sept** **[TandemStride](https://millionrounds.com/company/tandemstride)** Seed · US **$5.5M** With 3 others
- **Aug** **[Swept AI](https://millionrounds.com/company/swept-ai)** Pre-seed · US **$1.4M** With 2 others
- **Aug** **[Redi.Health](https://millionrounds.com/company/redi-health)** Venture · US **$6.0M** With 2 others
- **Jul** **[ApFusion](https://millionrounds.com/company/apfusion)** Series A · Verb Ventures **$6.0M** With 5 others
- **Jul** **[Blumira](https://millionrounds.com/company/blumira)** Debt · US **$15M** With 3 others
- **Jun** **[Abre](https://millionrounds.com/company/abre)** Venture · US **$13M** With 3 others
- **Jun** **[MOONNOX](https://millionrounds.com/company/moonnox)** Seed · US **$2.0M** With 1 other
- **May** **[Prediction Guard](https://millionrounds.com/company/prediction-guard)** Seed · US **$3.7M** With 2 others
- **Mar** **[Workshop](https://millionrounds.com/company/workshop)** Venture · US **$7.0M** With 2 others
- **Feb** **[Vigil](https://millionrounds.com/company/vigil)** Pre-seed · US **$1.3M** With 1 other
- **Feb** **[86 Repairs](https://millionrounds.com/company/86-repairs)** Venture · US **$2.0M** With 3 others
- **Jan** **[itiliti Health](https://millionrounds.com/company/itiliti-health)** Venture · US **$574K** With 3 others
- **2024** 12 rounds
- **Oct** **[Hummingbirds](https://millionrounds.com/company/hummingbirds)** Seed · US · TechCrunch **$5.4M** With 7 others
- **Oct** **[TitleWise](https://millionrounds.com/company/titlewise)** Seed · US **$250K** With 2 others
- **Sept** **[Top Tier Lessons](https://millionrounds.com/company/top-tier-lessons)** Pre-seed · US **$520K** Sole investor
- **Jun** **[Pear Commerce](https://millionrounds.com/company/pear-commerce)** Series A · US **$10M** With 2 others
- **May** **[Pitchly](https://millionrounds.com/company/pitchly)** Venture · US **$970K** Sole investor
- **Apr** **[Aerovy](https://millionrounds.com/company/aerovy)** Venture · US **Undisclosed** With 1 other
- **Apr** **[Elate](https://millionrounds.com/company/elate)** Venture · US **$3.2M** With 2 others
- **Feb** **[backstitch](https://millionrounds.com/company/backstitch)** Venture · US **Undisclosed** With 3 others
- **Feb** **[Stagetime](https://millionrounds.com/company/stagetime)** Seed · US **$100K** With 3 others
- **Jan** **[Corral Technologies](https://millionrounds.com/company/corral-technologies)** Venture · US **$1.4M** With 1 other
- **Jan** **[DAtAnchor](https://millionrounds.com/company/datanchor)** Venture · US **$6.3M** With 1 other
- **Jan** **[Joshin](https://millionrounds.com/company/joshin)** Venture · US **$1.4M** With 1 other
- **2023** 13 rounds
- **Nov** **[@hotel](https://millionrounds.com/company/hotel)** Venture · US **$4.0M** With 4 others

An announcement gives the size of the round, not the size of this investor's cheque: the only rounds that imply a cheque are those where they were the sole named investor.

## The team

Named by the firm itself, on a filing, its Form ADV or its company registration **3 named**

DM **Delali Michael Asem** Managing Member i Filing they signed

MA **Mike Asem** Promoter i Filing they signed

VG **Victor Gutwein** Managing Director of Manager i Filing they signed

We also hold **6** people at this firm from the lists this database was built from: a weaker source than the filings, since a list does not say when a title ended. Login to see them.

## What the register says

From the firm's own filings with the SEC, which it must file accurately by law

**$128M** gross assets of its funds Oct 2026

**Exempt** reporting adviser venture or small private funds

- **Legal name:** M25 Group, LLC
- **SEC number:** CRD 304760

## What they claim to have backed

From their own portfolio page (on their website)

**0** of 1 we have independently watched raise

Midwest Startups

Weaker than a round we watched, stronger than a list somebody sold us. A firm is far less willing to put a company on its own site that it never funded.

New fund on file

**$28M**

raised in Dec 2024

From its SEC filing, not a journalist: a firm that has just raised has money to deploy.

## The cheque

Pre-seed Seed Series A

Median round joined **$2.2M** the round, not its cheque Alone, median **$700K**

Led 1 of 115 rounds **1%**

- **Said size:** $250K – $500K
- **Sole investor:** 12 rounds
- **Last cheque:** Sept 2026

Rounds by stage said on their site

- Seed said *41*
- Venture *38*
- Series A said *12*
- Pre-seed said *6*
- Series B *4*

Cheques by month Led Joined

Nov 2023 Oct 2026

Often in the room with

- [Techstars](https://millionrounds.com/fund/techstars) 11
- [Connetic Ventures](https://millionrounds.com/fund/connetic-ventures) 8
- [Right Side Capital Management](https://millionrounds.com/fund/right-side-capital-management) 8
- [Hyde Park Venture Partners](https://millionrounds.com/fund/hyde-park-venture-partners) 7
- [Service Provider Capital](https://millionrounds.com/fund/service-provider-capital) 7
- [500 Global](https://millionrounds.com/fund/500-startups) 6

**Pitching M25?** Put them on your fundraising board with this record on the card, and follow them to hear when they write a new cheque.

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## Who they invest alongside

The investors most often in the same rounds as M25. A count of rooms they were both in, not a relationship either has claimed.

[**Techstars** VC firm **11** rounds together](https://millionrounds.com/fund/techstars)[**Connetic Ventures** VC firm **8** rounds together](https://millionrounds.com/fund/connetic-ventures)[**Right Side Capital Management** VC firm **8** rounds together](https://millionrounds.com/fund/right-side-capital-management)[**Hyde Park Venture Partners** VC firm **7** rounds together](https://millionrounds.com/fund/hyde-park-venture-partners)[**Service Provider Capital** VC firm **7** rounds together](https://millionrounds.com/fund/service-provider-capital)[**500 Global** Angel **6** rounds together](https://millionrounds.com/fund/500-startups)[**Invest Nebraska** Government **6** rounds together](https://millionrounds.com/fund/invest-nebraska)[**Allos Ventures** VC firm **5** rounds together](https://millionrounds.com/fund/allos-ventures)[**Cultivation Capital** VC firm **5** rounds together](https://millionrounds.com/fund/cultivation-capital)[**Gener8tor** VC firm **5** rounds together](https://millionrounds.com/fund/gener8tor)[**Rev1 Ventures** Corporate VC **5** rounds together](https://millionrounds.com/fund/rev1-ventures)[**Bread and Butter Ventures** VC firm **4** rounds together](https://millionrounds.com/fund/bread-and-butter-ventures)

## Recently backed

The latest companies M25 put money into.

[**Noise** $7.2M · Sept 2026](https://millionrounds.com/company/noise)[**Aerovy** $6.4M · Sept 2026](https://millionrounds.com/company/aerovy)[**ConstructionClock** $332K · Jul 2026](https://millionrounds.com/company/constructionclock)[**Immigify** $1.0M · Jul 2026](https://millionrounds.com/company/immigify)[**Trava Security** $7.0M · Jul 2026](https://millionrounds.com/company/trava-security)[**EnsoData** May 2026](https://millionrounds.com/company/ensodata)

## Quick answers about M25

### What does M25 invest in?

M25 invests most often at Seed and Venture (78% of the rounds on record), in sectors such as Finance, Insurance and Supply Chain.

### How active is M25?

115 investments on record, 13 of them in the last 12 months, and it led 1. The most recent was in Sept 2026.

### What has M25 invested in recently?

Its most recent investments on record: Noise (Seed, Sept 2026), Aerovy (Venture, Sept 2026) and ConstructionClock (Debt, Jul 2026).

### How big are M25's cheques?

The median round it joins is $2.2M. It says it writes cheques of $250K to $500K.

### Does M25 lead rounds?

Sometimes: it led 1 of its 115 investments on record (1%).

### Where does M25 invest?

Most of the companies it backs are in the United States (92%) and Canada (8%).

### Is M25 investing now?

Yes: it is actively investing, with 13 investments in the last 12 months.

### Who does M25 invest alongside?

Most often Techstars (11 rounds together), Connetic Ventures (8 rounds together) and Right Side Capital Management (8 rounds together).

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Built from the rounds we watched, its filings and its own website, refreshed every night. [How we count](https://millionrounds.com/methodology) · [Report a correction](https://millionrounds.com/corrections?slug=m25) · [Is this your firm? Claim it](https://millionrounds.com/claim?org=m25)