Millworks Fund Series II

Millworks Fund Series II is a public-private partnership dedicated to strengthening New Hampshire's startup community and attracting additional investment dollars to the state. Comprising 40 individual investors from various sectors, including development, banking, investment, accounting, legal, healthcare, and high-tech, the fund collaborates with the New Hampshire Business Finance Authority to provide substantial support to local startups. Over a three-year period, Millworks II committed to investing $600,000 annually, totaling $1.8 million, through programs like the New Hampshire High Technology Council’s annual TechOut competition and Alpha Loft’s Accelerate NH program. This initiative aims to foster innovation and job creation within New Hampshire by supporting early-stage companies poised for growth.

The fund's investment strategy focuses on early-stage companies across diverse industries, including technology, healthcare, and high-tech sectors. By partnering with established programs such as TechOut and Accelerate NH, Millworks II seeks to identify and nurture promising startups through strategic investments and mentorship. The fund's approach emphasizes collaboration with local entrepreneurs and organizations to create a robust ecosystem that supports the scaling of businesses within the state. This strategy reflects a commitment to not only providing capital but also fostering a supportive environment for startups to thrive.

Millworks II's track record includes notable successes, such as its early investment in CleanFiber, a company that received $50,000 from the fund in 2013. CleanFiber has since experienced significant growth, securing over $125 million to expand production of its building insulation products. This example underscores the fund's impact on the local economy and its role in propelling New Hampshire-based companies onto national and international stages. The fund's philosophy centers on making strategic investments that yield substantial returns, both financially and in terms of economic development, thereby reinforcing its commitment to the state's entrepreneurial landscape.