Who Funds Artificial Intelligence Startups in Illinois?

Real, verified funding sources for artificial intelligence founders in Illinois: VC funds, accelerators, angel networks, and active grant programs — sourced from SEC filings and Grants.gov, not estimates.

Artificial Intelligence Funding Snapshot — Illinois (as of July 2026)

  • 1
    2 VC fundsheadquartered in Illinois with "Artificial Intelligence" in their name
  • 2
    8 acceleratorsopen to artificial intelligence founders in Illinois (including globally-available programs)
  • 3
    6 angel networksbased in Illinois
  • 4
    52 open grantsin the Technology category, refreshed nightly from Grants.gov

Artificial Intelligence VC Funds in Illinois

Magnetar AI Ventures Fund LP

📍 Evanston, IL📅 Filed August 2024

General partners: Hayley Stein, David Snyderman, Ross Laser

$234.9M
Effective fund size

Motivate Ventures AI Fund II, LP

📍 Chicago, IL📅 Filed April 2022

General partners: Lauren DeLuca, David Wieland

$19.8M
Effective fund size

Artificial Intelligence Accelerators Open to Illinois

8 programs

Techstars Chicago

Chicago, IL

Techstars Chicago

$120K
Deadline: Rolling / no fixed deadline
Learn More →

TechRise (P33 / Verizon / 1871)

Chicago, IL

TechRise (P33 / Verizon / 1871)

Varies
Deadline: Rolling / no fixed deadline
Learn More →

1871

Chicago, IL

1871

Varies
Deadline: Rolling / no fixed deadline
Learn More →

Polsky Center (UChicago)

Chicago, IL

Polsky Center (UChicago)

Varies
Deadline: Rolling / no fixed deadline
Learn More →

Northwestern Jumpstart Pre-Accelerator

Evanston, IL

Northwestern Jumpstart Pre-Accelerator

Varies
Deadline: Rolling / no fixed deadline
Learn More →

TechNexus Venture Collaborative

Chicago, IL

TechNexus Venture Collaborative

Varies
Deadline: Rolling / no fixed deadline
Learn More →

Microsoft for Startups

Global

Microsoft

$150K
Deadline: Rolling / no fixed deadline
Learn More →

AWS Accelerator

Global

Amazon Web Services

$100K
Deadline: Rolling / no fixed deadline
Learn More →

Angel Investor Networks in Illinois

6 networks

Hyde Park Angels

👥 210 members💰 $25K - $500K check range

📍 Chicago, IL

TechnologyHealthcareConsumerFintechSaaS

Chicago Angels

👥 200 members💰 $15K - $200K check range

📍 Chicago, IL

TechnologyHealthcareFinancial ServicesConsumer

Kellogg Angels

👥 100 members💰 $25K - $200K check range

📍 Evanston, IL

TechnologyHealthcareConsumerFintechSaaS

Keiretsu Forum Midwest

👥 80 members💰 $25K - $500K check range

📍 Chicago, IL

TechnologyHealthcareConsumerFintechSaaS

Chicago Ventures

👥 50 members💰 $100K - $2M check range

📍 Chicago, IL

TechnologySaaSConsumerMarketplace

Illinois Ventures Angels

👥 50 members💰 $25K - $200K check range

📍 Champaign, IL

TechnologyDeep TechLife SciencesAgriculture Tech

Grants in the Technology Category

Artificial Intelligence falls under the broader "Technology" category in federal grant data. These are federal programs open to eligible founders nationwide (including Illinois) — live from Grants.gov, refreshed nightly.

NSF Trailblazer Engineering Impact Award

U.S. National Science Foundation

Deadline: July 24, 2026Apply →

Integrated Data Systems & Services

U.S. National Science Foundation

$500K - $30M
Deadline: July 28, 2026Apply →

Science of Learning and Augmented Intelligence

U.S. National Science Foundation

From $550
Deadline: August 5, 2026Apply →

Correctness for Scientific Computing Systems

U.S. National Science Foundation

Deadline: August 11, 2026Apply →

?Artificial Intelligence Funding FAQs — Illinois

Are there artificial intelligence VCs headquartered in Illinois?

Yes — 2 funds headquartered in Illinois have "Artificial Intelligence" (or a close synonym) in their legal name, based on SEC Form D filings. This is a name match, not a verified thesis, so it understates true local investor interest.

What accelerators in Illinois support artificial intelligence startups?

8 accelerator programs open to Illinois-based artificial intelligence founders are in our database, including programs based in Illinois and globally-available programs.

Are there angel investor networks in Illinois?

Yes — 6 angel investor networks based in Illinois are in our database, ranked by member count with artificial intelligence-relevant groups surfaced first where our sector data supports it.

What grants are available for artificial intelligence founders?

52 currently open federal grant programs are tagged under the Technology category, which is where artificial intelligence falls in our grant classification. These are federal programs open to eligible founders nationwide (including Illinois), pulled live from Grants.gov and refreshed nightly.

Your Artificial Intelligence Funding Action Plan

1

Research & Prepare

  • Review the 2 artificial intelligence-matched funds above and their filing history
  • Check each fund's website for current investment criteria before reaching out
  • Prepare a pitch deck and financial projections tailored to your stage
2

Apply & Connect

  • Apply to the 8 accelerator programs listed above
  • Reach out to the 6 angel networks in Illinois
  • Check eligibility for the 6 open grant programs above
3

Follow Up

  • Track deadlines for any application-based programs above
  • Look for warm introductions through your existing network before cold outreach
  • Revisit this page periodically — fund and grant data refreshes nightly