Millworks Fund

General Partners Liz Hitchcock and Gray Chynoweth run the fund. Both serve as co-managing members of 10x Venture Partners, New Hampshire's largest angel group. Their joint leadership means investment decisions consolidate the state's most active early-stage investor network.

Millworks Fund sources exclusively through two structured programs: the New Hampshire High Technology Council's annual TechOut competition and Alpha Loft's Accelerate NH program. This competition-based model means the fund does not operate a traditional open-application or proprietary sourcing funnel.

No. While General Partners Hitchcock and Chynoweth have venture backgrounds, the fund itself is a finite-life pooled vehicle with a fixed annual deployment commitment and a programmatic sourcing model tied to specific state competitions. It functions more like a structured community investment fund than a discretionary venture firm.

Both General Partners — Hitchcock and Chynoweth — are co-managing members of 10x Venture Partners. Millworks Fund operates as a separate vehicle with its own committed capital and deployment rules, but its leadership overlap creates a tight connection to the state's largest angel network.

The fund is composed of 40 individual investors from across New Hampshire, including professionals from development, banking, investment, accounting, legal, healthcare, and technology, along with participation from the New Hampshire Business Finance Authority. It commits $600,000 per year for three years.