The Engine (Engine Ventures)

The Engine (Engine Ventures) The Engine was founded in 2016 as a venture built by MIT, spun out as Engine Ventures in 2023, and became a 501(c)(3) nonprofit in 2025. AUM exceeds $1B across Fund I ($200M+, 2017), Fund II ($230M, 2020), and Fund III ($398M, 2024). MIT invested $25M in Fund I and $35M in Fund II; Harvard joined as an LP in Fund II. The 56 portfolio companies focus on "Tough Tech", technologies requiring long development timelines and patient capital. The crown jewel is Commonwealth