The Invest Illinois Venture Fund anticipates expending its remaining financial resources on opportunities currently within its pipeline. As such, the IIVF is no longer accepting applications at this time. A subsequent Fund may be opened sometime in the future.
The Invest Illinois Venture Fund (IIVF) is a venture capital program seeking to support young, innovative companies, and start-ups that show a high potential for future growth resulting in the creation of high-paying professional Illinois jobs. Applicants with a good business model and other interested investors should apply directly to DCEO.
In its application to DCEO submitted electronically, the company should demonstrate that it:
- Is an Illinois-based company or willing to relocate its headquarters or principal business operations to Illinois upon intent of investment.
- Already has an actual or conditional, market-based third-party lead investment commitment;
- Pursues a rapidly expanding market with demonstrated potential for large market share;
- Has a dedicated management team with significant experience to execute;
- Features a new idea /leverages technology with a clear path to commercialization and monetization;
- Has a strategy demonstrating a strong sustainable competitive advantage;
- Has an investment plan for (a) securing follow-on venture capital or financing to successfully sustain the company; or (b) to successfully sustain the company upon completion of the venture capital financing;
- Has successful collaborations and experience (preferably with Illinois-based incubators, labs and universities) needed to commercialize technology and accelerate the growth of a high-tech start-up company;
- Establishes reasonable price per share or terms;
- Conforms to all DCEO and US Treasury SSBCI guidelines.
Proceeds from the IIVF can be used for many business purposes, including, but not limited to:
- start-up costs,
- working capital,
- business procurement,
- franchise fees,
- and the purchase, construction, renovation, or tenant improvements of an eligible place of business that is not for passive real estate investment purposes
Download a printable IIVF form
Printable Fact Sheet about IIVF
Email to CEO.IIVF@Illinois.gov