Chicago? Looks like Gotham to me. 🎥

⏰ Midwest Minute 

When Hollywood needs big city backdrops without the big city price tag, it turns to the Midwest. From action-packed blockbusters to coming-of-age classics, our cities have stood in for New York, Gotham and everything in between. Cleveland’s streets doubled as Washington D.C. in Captain America: The Winter Soldier, with the city’s tax incentives and film-friendly infrastructure making it a favorite source for Marvel in the early phases. Portions of The Dark Knight were shot in Chicago, bringing Gotham to life through the city’s iconic architecture source. And just a few weeks ago marked the 40-year anniversary of Ferris Bueller’s epic “day off” in downtown Chicago (June 5, 1985)—still a fan-favorite love letter to the Windy City source. Of course, the region has also starred as itself in Midwest favorites like Field of Dreams, Fargo and Hoosiers.

Beyond bragging rights, these productions bring real benefits—jobs, tourism and investment. While advancements like CGI and virtual sets mean filmmakers don’t always need to shut down streets anymore, there’s still nothing like the real thing. Midwest states like Illinois and Ohio offer generous film tax credits that attract productions and build up local crews and studios. In fact, Chicago has become a hub for TV and film, with shows like Chicago Fire and The Bear boosting its entertainment industry year-round. So if you spot a car chase flying down your block or a coffee shop doubling as a crime scene—it’s not a glitch in the matrix. It’s just the Midwest in action.

Have any insights into the Midwest ecosystem or a funding announcement to share? Want to share your favorite movie filmed in the Midwest? Send us an email: [email protected] 

📰 Notable News

Exits

• Chicago-based AbbVie acquired Capstan Therapeutics for $2.1B 

Startup Funding

• Abridge - $300M Series E led by a16z | Pittsburgh

• EnsoData - $20M Series B led by Questa Capital | Madison

• APFusion - $6M Series A led by I2BF Global Ventures | Champaign

• Woodchuck - $3.75M Seed led by Mason Fink | Grand Rapids

• Blank Metal - $3M Seed led by Rally Ventures | Minneapolis

• Mahalo - $2.6M Pre-Seed led by Motivate Venture Capital | Chicago

• Moonnox - $2M round led by M25 with participation from HPA, Early Light Ventures and Service Provider Capital | Chicago

• Narratize - $1.76M round led by North Coast Ventures | Cincinnati

• Legible AI - $1.2M round led by Acadian Software | Des Moines

VC Funds

• Shore Capital Partners (PE) - $450M F&B FIII | Chicago

Other News

• Omaha Startups Celebrate Midwest Madness 2025 Victory

• Participate in High Alpha’s 2025 SaaS Benchmarks Survey!

• Q2 Global Venture Funding Climbs In A Blockbuster Quarter For AI And As Capital Concentrates In Larger Companies

• Chicago tech jobs dip in 2024, but growth projected for 2025

• What Trump’s ‘Big Beautiful Bill’ means for startups and VCs

• The National Observer: Federal funding uncertainty may affect startups

• The investors guide to: Chicago

• The world’s top 10 institutions for quantum physics

• Indiana secures $6.25 million to advance apprenticeships

Have exciting news to share? If you're announcing a funding round, exit or other milestone, send your press release to [email protected]. While we can’t share everything, we love highlighting great stories from across the region.

📆 Mark your Calendar

Need to fill your social calendar? We’ve scoured newsletters, scanned LinkedIn and found some of the latest tech + startup events in the region. Know of any upcoming events and want to share them in our next newsletter? Send us an email: [email protected]