Association News IVCA Education Session Preview: Moderator Jim Dugan on ‘Fundraising Market Conditions & Best Practices’ Lunch and Learn! May 28th - Fundraising Market Conditions & Best Practices IVCA Foundation News Don’t Miss the Shot – Partner with Us! 2026 IVCA Invitational Legislative News IVCA Provides Updates for State Legislative Issues – 05/13/2026 IVCA Events May 28, 2026 - IVCA Education Session: Fundraising Market Conditions & Best Practices July 13, 2026 - 2026 IVCA Invitational Golf Event October 22, 2026 - IVCA CFO Summit Other Events of Interest June 16, 2026 - Venture Summit [West] July 20 - 26, 2026 - TECHICAGO Week 2026 July 29, 2026 - 2026 ILGIF Summit - Save the Date! Industry News Baird Capital Closes Oversubscribed Continuation Fund to Fuel Growth of Blue Matter Benford Capital Partners Welcomes Evan Lakins Frontenac Port Co Integrated Openings Solutions Acquires Commercial Door and Hardware, Entering the Arkansas Market and Western South Central Region High Street Capital Sells NeoSystems ESG Backed by healthcare technology investor Hughes & Company, Curvo and BroadJump Announce Merger Designed to Transform Healthcare Supply Chain Join the HPA Team: We’re Hiring a Venture Operations Manager! M25 - Why We Invested in Stock Monroe Capital Supports First Reserve’s Strategic Growth Investment in Lindsey Systems Runway Growth Capital Promotes Avisha Khubani to Chief Credit Officer and Adds JD Tamas as Managing Director S2G Investments Closes $1 Billion Solutions Fund I to Scale Growth-Stage Companies Across Food & Agriculture, Energy, and Oceans Thoma Bravo Port Co Coupa Acquires Rossum to Accelerate End-to-End Autonomous Spend Management Professional Advisor News Earn 1.5 CPE credit in Taxes - BDO Talks Transactions: Key M&A Tax Planning Considerations Troutman Pepper Locke Represents Del Monte Capital in Platform Investment in DLG Infrastructure Services Sidley Represents Siris Capital in Its US$4.2 Billion Sale of Equiniti to Bullish Ropes & Gray Advised Bain Capital in Growth Investment in Power Home Remodeling Troutman Pepper Locke Represents The Valcourt Group in Acquisition of Omega Waterproofing Sidley Represents Archimed in US$1.1 Billion Acquisition of Esperion Therapeutics Ropes & Gray Advised Genstar and PlayMetrics in Acquisition of SportsEngine Troutman Pepper Locke Advises Blue Heron Capital on Investment in Virtual Rheumatology Provider Remission Medical Sidley Represents Apollo on Its Strategic Investment in vVARDIS Ropes & Gray Advised THL Partners in Close of $6.35 Billion “Fund X” Delaware Court of Chancery Holds That Conditioning Merger Consideration on Execution of a Release Agreement Breaches the Certificate of Incorporation Sidley Represents ModMed in Its Acquisition of Bonsai Health Ecovyst Enters Agreement to Acquire Calabrian Sulfur Dioxide & Sulfur Derivatives Business A Merger of the Minds: The Role of Knowledge Management in AI Adoption Sidley Represents Churchill Downs Incorporated in Its Acquisition of Preakness IP Rights Ropes & Gray Advised THL Partners Portfolio Software Company AMI in Sale to Lattice Semiconductor for $1.65 Billion Investment Management Update – Q1 2026 Sidley Represents Orion Resource Partners in Combination of Sweetwater Royalties With Uranium Royalty Ropes & Gray Advised Long Path Partners on Take-Private Acquisition of Idox plc Troutman Pepper Locke Advises Climate Investment on Series B Financing in Membrane Technology & Research Blackstone Life Sciences Invests $250 Million in Anagram Therapeutics to Advance Therapy for Pancreatic Insufficiency Ropes & Gray Advised GI Partners in Acquisition of Cell Solutions Businesses and CDMO From Charles River Laboratories, Forming Rose BioSolutions Ropes & Gray Named a Winner in Mergers & Acquisitions Mid-Market Deals of the Year for 2026 Ropes & Gray Represents Empire Today® in Recapitalization Ropes & Gray Represented Advent and Bain in Investment in DeployCo, a Joint Venture with OpenAI Carried Away Series – What’s Changing in GP Economics Job Postings Please view the full details for each Job Posting listed below, on our website HERE . Once at Job Postings please scroll down the pages to view the jobs. They are listed chronologically as received, most current first. Hyde Park Angels - HPA Venture Operations Manager NextGen Growth Partners – Director, BD 7wire Ventures – Principal Role in Chicago Decasonic – AI Operations Manager TechNexus Venture Collaborative – Sr. Accountant

IVCA Illinois Legislative Report David Stricklin , IVCA Legislative Liaison , Stricklin & Associates

A bill to expressly target Private Equity in residential housing was sent to the Senate Executive Committee on Monday and was heard in committee Tuesday. SB 331 with amendment 1 places a fee on entities purchasing more than 10 residential homes, with the proceeds directed to a fund to help create affordable housing. The bill passed out of Senate Executive Committee and is now poised to be heard in the Senate floor. IVCA is working with the Illinois Realtors among others to oppose the bill which while well-intentioned is not going to result in an increased supply of affordable housing. View the status of the bill a t ILGA.gov

Momentum is building for the 2026 IVCA Invitational, with strong support from firms across Illinois’ private equity and venture capital community. Held on July 13 at Olympia Fields Country Club, the Invitational brings together more than 200 industry leaders for a day of connection and purpose, raising funds for the IVCA Scholars Program, which creates access points into the industry for emerging talent.  We are grateful to the growing group of sponsors who have already committed to this year’s event, representing a cross-section of leading firms investing in the future of our ecosystem. Final Sponsorship Opportunities With several major sponsorship levels now filled, a limited number of distinctive opportunities remain, including: Golf Clinic Sponsorship (exclusive) A highly curated, small-group experience paired with brand visibility at the practice range Contest Sponsorships (limited availability) On-course activations that offer strong visibility and engagement throughout the day These opportunities are designed for firms looking to engage in a more targeted and memorable way. Now Welcoming GP Foursomes In addition, we have opened a limited number of foursomes to qualified General Partners, offering another way to participate in the event while supporting the Foundation’s mission. Join Us Sponsorship of the IVCA Invitational is more than event participation, it is an investment in building a stronger, more accessible pipeline of talent for our industry. 👉 [View sponsorship opportunities / event page ]

The next IVCA Education Session will take place on May 28, 2026 (details below). The program, “Fundraising Market Conditions & Best Practices,” will be moderated by Jim Dugan (OCA Ventures) and feature Alex Fisher (Madison Dearborn Partners), Chris Maduri (Eaton Partners), and Rishi Chhabria (The Vistria Group). Moderator Jim Dugan, Founding Managing Partner of OCA Ventures, shares a preview of the discussion in this Q&A. To complement that perspective, we’ve curated several timely insights from the financial press and industry podcasts. From the Financial Press KPMG – Venture Pulse Q1 2026 U.S. venture investment surged to a record $267.2 billion in Q1 2026, driven in part by the $122 billion OpenAI raise. Even excluding that outlier, quarterly funding would still have reached a new high. Read more: https://kpmg.com/us/en/articles/2026/venture-pulse-q1-2026.html Computerworld – AI Venture Funding to Shoot Up This Year According to S&P Global, generative AI funding exceeded $140 billion in Q1 2026, already surpassing full-year 2025 levels. While deal volume declined amid inflation and geopolitical uncertainty, average deal size increased significantly. Read more: https://www.computerworld.com/article/4164421/ai-venture-funding-to-shoot-up-this-year-as-bubble-looms.html Forbes – As Geopolitics Tightens Capital, Venture Funding Becomes Pickier Rising geopolitical tensions are driving a repricing of risk, increasing the cost of capital and making venture funding more selective. This shift is reshaping which companies attract funding—and which do not. Read more: https://www.forbes.com/sites/dileeprao/2026/03/04/as-geopolitics-tightens-capital-venture-funding-becomes-pickier/ Morgan Stanley – Geopolitics Is the Market Force – What Comes Next? As globalization gives way to a more fragmented, multipolar landscape, investors must navigate the intersection of geopolitics, energy, and trade policy. Capital allocation is increasingly shaped by supply chain realignment and risk mitigation strategies. Read more: https://www.morganstanley.com/insights/articles/geopolitical-risk-impact-investors-institute-2026 From Industry Podcasts Inside Venture Capital – Venture’s Haves and Have-Nots This discussion explores the growing bifurcation within venture capital, evolving risk dynamics, and how geography impacts investment performance. Research Leader Dan Gray shares insights from a recent survey on early-stage VC trends. Listen (45 min): https://youtu.be/YBd65oN5RL4?si=4pWusqsYrZv_gjXc VC Lab – Meet the Managers: Sourcing Top Deals VC managers from StarChain Ventures, Science Fair Fund, and Geek Ventures discuss sourcing high-conviction startups, building founder relationships, and developing repeatable investment processes that drive results and LP confidence. Listen (57 min): https://youtu.be/oYNSK-oeYkM?si=iMhKX7fVkqixZo4s Capital Allocators – Why Culture Matters This episode highlights how WCM Investment Management operationalizes culture—from hiring for character and emphasizing trust to aligning incentives through shared equity and long-term succession planning. Listen (55 min): https://youtu.be/x8-rJctvxrk?si=ziC8nR1W0GieDM2d The IVCA Education Session, “Fundraising Market Conditions & Best Practices,” will take place on May 28 at 1:00 PM at the Conference Center at UBS Tower (One North Wacker Drive, Chicago). Click here to register and view full details.

Association News IVCA Education Session Preview: Moderator Jim Dugan on ‘Fundraising Market Conditions & Best Practices’ Lunch and Learn! May 28th - Fundraising Market Conditions & Best Practices IVCA Foundation News Don’t Miss the Shot – Partner with Us! 2026 IVCA Invitational Legislative News IVCA Provides Updates for State Legislative Issues – 05/13/2026 IVCA Events May 28, 2026 - IVCA Education Session: Fundraising Market Conditions & Best Practices July 13, 2026 - 2026 IVCA Invitational Golf Event October 22, 2026 - IVCA CFO Summit Other Events of Interest June 16, 2026 - Venture Summit [West] July 20 - 26, 2026 - TECHICAGO Week 2026 July 29, 2026 - 2026 ILGIF Summit - Save the Date! Industry News Baird Capital Closes Oversubscribed Continuation Fund to Fuel Growth of Blue Matter Benford Capital Partners Welcomes Evan Lakins Frontenac Port Co Integrated Openings Solutions Acquires Commercial Door and Hardware, Entering the Arkansas Market and Western South Central Region High Street Capital Sells NeoSystems ESG Backed by healthcare technology investor Hughes & Company, Curvo and BroadJump Announce Merger Designed to Transform Healthcare Supply Chain Join the HPA Team: We’re Hiring a Venture Operations Manager! M25 - Why We Invested in Stock Monroe Capital Supports First Reserve’s Strategic Growth Investment in Lindsey Systems Runway Growth Capital Promotes Avisha Khubani to Chief Credit Officer and Adds JD Tamas as Managing Director S2G Investments Closes $1 Billion Solutions Fund I to Scale Growth-Stage Companies Across Food & Agriculture, Energy, and Oceans Thoma Bravo Port Co Coupa Acquires Rossum to Accelerate End-to-End Autonomous Spend Managementn Professional Advisor News Buyer Beware – When Unclaimed Property Comes with The Deal - Andersen Earn 1.5 CPE credit in Taxes - BDO Talks Transactions: Key M&A Tax Planning Considerations Ropes & Gray Advised TPG in Acquisition of Learfield Vedder Represents TeachTown, a Portfolio Company of L Squared Capital Partners, in its Sale to Everway Ropes & Gray Advised H.I.G. Capital in Investment in Inventus Power Vedder Represents The Edgewater Funds in its Investment in AFT Industries, Inc. Ropes & Gray Advised Underwriters in Arxis’ $1.3 Billion IPO Alessandro Capogrosso Featured in FundsPeople Discussing Global Sponsors Looking at Italy Through the Lens of Public Market Opportunities Ropes & Gray Advised Neuberger and GIC as Lead Investors in Onex Partners’ $1.6 Billion Continuation Vehicle Ropes & Gray Shortlisted for Private Capital Team of the Year at The Lawyer Awards Ropes & Gray Advised American Industrial Partners in Carve-out of Honeywell’s Warehouse and Workflow Solutions Business Ropes & Gray Advised Bluegem Capital Partners on the Combination of Australian Bodycare and Ecooking Ropes & Gray Advised HarbourVest Partners as Co-Lead Investor in New Mountain Capital’s $2.4 Billion Continuation Vehicle Ropes & Gray Advised Charlesbank and Bridgepointe in Strategic Growth Investment Ropes & Gray Advised Capacity Sports Group in its Acquisitions of YSC Sports, United Sports Training Centers, and Sideline Sports Job Postings Please view the full details for each Job Posting listed below, on our website HERE . Once at Job Postings please scroll down the pages to view the jobs. They are listed chronologically as received, most current first. NextGen Growth Partners – Director, BD 7wire Ventures – Principal Role in Chicago Decasonic – AI Operations Manager TechNexus Venture Collaborative – Sr. Accountant

IVCA Illinois Legislative Report David Stricklin , IVCA Legislative Liaison , Stricklin & Associates

The IVCA Foundation is pleased to share that sponsorship opportunities are now open for the 2026 IVCA Invitational, our premier annual fundraising event in support of the IVCA Scholars Program. The Invitational brings together leaders across Illinois’s venture capital, private equity, and innovation ecosystem for a memorable day of connection and community with proceeds supporting initiatives that expand access to careers in private capital and strengthen the future talent pipeline. Foundation sponsors play a vital role in: Supporting high‑potential students pursuing careers in venture capital and private equity Investing in long‑term workforce development for the industry Advancing a more accessible and inclusive innovation economy in Illinois We are grateful to the many firms and individuals who have supported the Invitational in past years, and we welcome both returning and new sponsors to join us in 2026. Event details are available HERE ! Full sponsorship details are available here : 🔗 https://illinoisvc.org/sponsorship-opportunities-now-open-2026-ivca-invitational/ If you have questions or would like to discuss sponsorship options, please don’t hesitate to reach out to Christie Pruyn, cpruyn@illinoisvc.org or Peggy Castanoli, pcastanoli@illinoisvc.org .

Illinois Venture Capital Association