# Millworks Fund

Millworks Fund is a Private Equity based in Manchester, United States.

## Overview

- **Organization type:** Private Equity
- **Headquarters:** Manchester, United States
- **Region:** North America
- **Address:** 848 Elm Street Unit #200, Manchester, NH 03104
- **Founded:** 2017
- **Assets under management:** Undisclosed
- **Website:** www.millworksfund.com
- **LinkedIn:** https://www.linkedin.com/company/millworksfund

## Regulatory record

- **Reports private funds:** No

## About

Millworks Fund Series II (Millworks II) is an investment fund committed to strengthening New Hampshire’s startup community and attracting additional investment dollars to New Hampshire. The fund is comprised of 40 individual investors from across New Hampshire. Millworks II has committed to provide $600,000 per year for three years to New Hampshire startup companies through the New Hampshire High Technology Council’s annual TechOut competition and through Alpha Loft’s Accelerate NH program.

## Sectors

- High Tech

## People

- Elizabeth Hitchcock — General Partner
- Gray Chynoweth — General Partner

## Questions

### Who runs investment decisions at 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.

### How does Millworks Fund source deals?

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.

### Does Millworks Fund operate as a traditional venture capital firm?

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.

### What is Millworks Fund's relationship to 10x Venture Partners?

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.

### How is Millworks Fund capitalized?

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.

## Related profiles

- [Milltrust International](https://altss.com/profile/milltrust-international)
- [Milton Retirement Board](https://altss.com/profile/milton-retirement-board)

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Last updated: 2026-08-11T15:07:26.757Z

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