Association News IVCA Feature: New Member Profile of FM Capital Nominations Are Now Open for the 2026 IVCA Awards CFO Summit Sponsorship Opportunity for your firm! VC and PE Investor Finance Professionals! Join us on October 22 for 2026 IVCA CFO Summit! IVCA Scholars Complete Another Successful Summer Program Legislative News IVCA Provides Updates for State Legislative Issues 08/19/2026 IVCA Events October 22, 2026 - IVCA CFO Summit December 7, 2026 - IVCA Awards Dinner - SAVE THE DATE! Other Events of Interest September 17, 2026 - McDermott's Chicago Private Equity Bootcamp - SAVE THE DATE! Industry News The Edgewater Funds Announces Investment in Parker Manufacturing Group Monroe Capital Supports Air Transport Components’ Acquisition of Aero Controls, Inc. Wind Point Partners To Acquire ECI McNally Capital Makes Majority Investment in TENICA, a Leading Provider of National Security and Intelligence Solutions H.I.G. Capital Completes Acquisition of Phoenix ME Thoma Bravo Completes Acquisition of Kneat HPA Backs AI-Native Production Intelligence Platform Revolutionizing Continuous-Flow Manufacturing Monroe Capital Supports Summit Professional Education’s Acquisition of Kids Bowel & Bladder Accelerant Enters into Definitive Agreement to be Acquired by Thoma Bravo Shore Capital Partners Announces Sale of Texas MedClinic to HCA Healthcare Command Alkon Announces Acquisition by Francisco Partners from Thoma Bravo Runway Growth Capital Appoints Michael Rovner as Co-Chief Executive Officer and Co-Chief Investment Officer Wynnchurch-Backed Trimlite Acquires Barnett Millworks Private Credit: Asset-Backed Finance Explained | Victory Park Capital Wynnchurch Capital Port Co M2S Group Surpasses $1 Billion in Annual Revenue with Acquisition of Heartland Label Printers Frontenac Port Co Motion & Control Enterprises Acquires Salentine Pump & Equipment Professional Advisor News Ropes & Gray Advised McNally Capital in Majority Investment in TENICA Global Solutions Sidley Represents Castle Creek Capital in Tri-County Financial Group’s US$204.6 Million Merger with HBT Financial Carried Away Series — Management Fees and Self-Employment Taxes – Structuring for Tax Efficiency After Sirius Solutions and Soroban Ropes & Gray Represented Ripple Fiber in Acquisition by Eaton Fiber Sidley Represents Goldman Sachs Alternatives in Acquisition of Tosca From Apax Funds BDO PRIVATE EQUITY PERSPECTIVES PODCAST EPISODE 57B: No Shortcuts: The Case for Patient Sourcing and Earned Partnerships– PART B Ropes & Gray Advised New Mountain Capital in Acquisition of Jensen Hughes Sidley Represents MarineMax in Its US$1.5 Billion Sale to Blackstone Infrastructure Portfolio Company, Safe Harbor Fifth Circuit Narrows, but Preserves, Taxpayer-Favorable Ruling on Limited Partner Exception to Self-Employment Tax on Rehearing Three Ropes & Gray Partners Named Notable Leaders in Accounting, Consulting & Law by Crain’s New York Business Sidley Represents Northcote Equity in Investment in Lockhart Capital Management Ropes & Gray Advised NEOS Investments in Sale to Goldman Sachs Sidley Represents Acteon in the Sale of Menck to Cadeler Ropes & Gray Advised Altamont Capital Partners in Accelerant Take-Private Acquisition by Thoma Bravo Sidley Represents Sapiom in US$35 Million Series A Financing 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. NEW! NextGen Growth Partners - Senior Analyst, Investments Hyde Park Angels - HPA Venture Operations Manager Decasonic – AI Operations Manager TechNexus Venture Collaborative – Sr. Accountant

From evolving tax regulations and valuation challenges to data management, investor reporting, and artificial intelligence, today's finance leaders sit at the center of private capital firm strategy. Join us on October 22, 2026, for the IVCA CFO Summit, a full day of practical insights, industry updates, and peer networking designed specifically for finance leaders in private equity and venture capital. Last year's program featured discussions on economic trends, Washington policy developments, fund formation, diligence, valuation transformation, operational scaling, and AI-driven finance transformation. Whether you're a CFO, controller, operations leader, or finance executive, the Summit offers valuable perspectives and meaningful connections with professionals across Illinois' private capital ecosystem. Learn more, register, or explore sponsorship opportunities at https://www.illinoisvc.org/cfo-summit

The IVCA Annual Awards Dinner returns to the Four Seasons Chicago on December 7, 2026, bringing together Illinois' leading private equity and venture capital professionals for an evening of recognition, networking, and celebration. As IVCA's flagship event, the Awards Dinner attracts more than 300 senior-level attendees, including investment professionals, portfolio company executives, institutional investors, and industry advisors. The evening recognizes outstanding firms, portfolio companies, and leaders who have made a significant impact on Illinois' investment ecosystem. Congratulations again to our 2025 award recipients: Venture Capital Portfolio Company of the Year: Simple Mills Private Equity Portfolio Company of the Year: Door and Window Guard Systems (DAWGS) Richard J. Daley Award: Bruce N. Barron, Origin Ventures Stanley C. Golder Award: Robert P. Morgan, 50 South Capital Rising Star Award: M25 IVCA Foundation Award: Shoshana M. Vernick Sponsorship opportunities are now available and provide exceptional visibility before, during, and after the event. View Sponsorship Opportunities HERE . For questions or to reserve a sponsorship level, please contact Christie Pruyn at cpruyn@illinoisvc.org .

Time flies in the deal-making process. Autumn is arriving in three weeks, but the fourth quarter for 2026 is here, and will be indicative based on what has happened in the previous three quarters of the year. The online financial press has predictions, observations and advocation regarding Venture Capital and Private Equity for the Fourth Quarter of 2026, as year counts down. JTCGroup.com , ‘Venture Capital Market 2026: Flexibility is Key in Uncertain Times’ Venture capital market 2026 predictions were all over the map after a tumultuous 2025, with geopolitical instability and economic volatility contributing to extended hold times and drawn-out venture capital fundraising periods. READ MORE: https://www.jtcgroup.com/insights/venture-capital-market-2026/ SouthSummit.io , ‘What Venture Capital Investors Look for in Startups in 2026’ Raising Venture Capital (VC) has never been easy, but in 2026 the bar is even higher. Investors are still actively backing startups, yet they are deploying capital more selectively and demanding stronger evidence that a company can become a category leader. READ MORE: https://www.southsummit.io/en/articles/1aaaf231-6487-f111-b337-000d3a3a1397/what-venture-capital-investors-look-for-in-startups-in-2026 Bain.com , ‘Control the Controllable, Weather the Rest: Private Equity Report 2026’ Call it the “Groundhog Day” dynamic. Recovery deferred … again. A year ago at this time, the Private Equity industry was poised for an upturn that never really took hold. Early-year optimism was dashed by tariff turmoil—just the latest in a long line of market dislocations dating back to the Covid-19 pandemic. READ MORE: https://www.bain.com/insights/private-equity-midyear-report-2026/ NYTimes.com , ‘Private Equity Is Stuck With 33,575 Unsold Businesses’ Even amid a booming deal-making environment, Private Equity firms are unable to exit a growing number of investments at values their investors require. READ MORE (gift link): https://www.nytimes.com/2026/08/10/business/private-equity-unsold-businesses.html?unlocked_article_code=1.4VA.beeV.b7xTvWdlzt6V&smid=url-share&trk=public_post_comment-text Bloomberg Podcasts , ‘Rerouting Trade, Private Equity Test | Wall Street Week’ This week, inflation may be edging lower, but as markets push rates higher, the Fed’s 2% inflation target might be a long way off. And, Mexico is building a land-based trade corridor that could give shipping companies more options when traditional channels are disrupted. Plus, as exits slow and borrowing costs rise, the ability of private equity investments to generate returns that beat public markets is less certain. LISTEN (48 MINUTES): https://youtu.be/jNvqXFss30M?si=1Ti9f7-icZwtxnb3 How I Invest Podcast , ‘How VCs Find the Next $1 Trillion Company’ Most investors assume that once a venture firm reaches $43 billion in assets under management, the real opportunities shift toward writing larger checks. Yuri Sagilov believes the opposite. LISTEN (28 MINUTES): https://youtu.be/QYCBdiUXTwY?si=_2R2LJmgo2Gj4Ggt Resident.com , ‘5 Luxury Travel Trends Reshaping 2026: Spontaneous, Private, and Closer to Home’ (IF YOU’RE FEELING SPONTANEOUS) “The luxury trip is changing shape. For most of the past decade, a high-end vacation meant a marquee hotel, a planned itinerary, and a flight to somewhere far from home. In 2026, the American travelers are rewriting all three assumptions at once. They are booking later, often within weeks of departure.” READ MORE: https://resident.com/luxury-travel/2026/06/25/5-luxury-travel-trends-reshaping-2026-spontaneous-private-and-closer-tohome The 2026 IVCA CFO Summit is now open for registration and is FREE to all finance professionals of IVCA member firms; $795 for all finance professionals of non-member firms, and will take place on October 22nd, 2026. Click on CFO for more information and instructions to register.

Recent developments in Springfield highlight continued efforts to strengthen Illinois' fiscal position and expand investment tools that support economic growth across the state. Illinois Earns 11th Credit Rating Upgrade Governor JB Pritzker recently announced that Moody's upgraded Illinois' general obligation bond rating to A1, marking the state's 11th credit rating upgrade since 2021 and its highest Moody's rating in nearly 15 years. The upgrade reflects sustained fiscal improvements, including balanced budgets, growth in the state's rainy-day fund, reduction of unpaid bills, and continued efforts to address long-term pension liabilities. For Illinois businesses and investors, improved credit ratings can translate into lower borrowing costs for the state, increased financial stability, and a stronger environment for economic development and investment activity. State Treasurer Granted Expanded Investment Authority Governor Pritzker also signed SB 3086, legislation that expands the Illinois State Treasurer's investment options by allowing investments in certain pooled investment trusts meeting established eligibility requirements. Supporters of the legislation note that it creates additional opportunities to generate competitive returns while supporting development initiatives, including housing-related projects that align with the state's broader BUILD housing strategy.  The legislation has prompted discussion around innovative approaches to addressing housing affordability and expanding investment in community development projects. As policymakers continue to focus on housing supply and economic growth, IVCA will remain engaged in conversations about the role private capital can play in supporting responsible development, job creation, and investment across Illinois communities. Welcome to New State Treasurer CIO Jacob Stuckey IVCA also welcomes Jacob Stuckey , the newly appointed Chief Investment Officer for the Illinois State Treasurer's Office. The Treasurer's investment activities play an important role in Illinois' broader capital ecosystem, and IVCA looks forward to continuing a constructive dialogue with Treasurer's Office leadership on issues affecting investment, economic development, and capital formation throughout the state. As always, IVCA will continue monitoring legislative and regulatory developments and advocating for policies that support a healthy private capital ecosystem and a competitive Illinois economy.

Association News IVCA Feature: New Member Profile of FM Capital Nominations Are Now Open for the 2026 IVCA Awards CFO Summit Sponsorship Opportunity for your firm! VC and PE Investor Finance Professionals! Join us on October 22 for 2026 IVCA CFO Summit! IVCA Scholars Complete Another Successful Summer Program Legislative News IVCA Provides Updates for State Legislative Issues 08/19/2026 IVCA Events October 22, 2026 - IVCA CFO Summit December 7, 2026 - IVCA Awards Dinner - SAVE THE DATE! Other Events of Interest September 17, 2026 - McDermott's Chicago Private Equity Bootcamp - SAVE THE DATE! Industry News The Edgewater Funds Announces Investment in Parker Manufacturing Group Monroe Capital Supports Air Transport Components’ Acquisition of Aero Controls, Inc. Wind Point Partners To Acquire ECI McNally Capital Makes Majority Investment in TENICA, a Leading Provider of National Security and Intelligence Solutions H.I.G. Capital Completes Acquisition of Phoenix ME Thoma Bravo Completes Acquisition of Kneat HPA Backs AI-Native Production Intelligence Platform Revolutionizing Continuous-Flow Manufacturing Monroe Capital Supports Summit Professional Education’s Acquisition of Kids Bowel & Bladder Accelerant Enters into Definitive Agreement to be Acquired by Thoma Bravo Shore Capital Partners Announces Sale of Texas MedClinic to HCA Healthcare Command Alkon Announces Acquisition by Francisco Partners from Thoma Bravo Runway Growth Capital Appoints Michael Rovner as Co-Chief Executive Officer and Co-Chief Investment Officer Wynnchurch-Backed Trimlite Acquires Barnett Millworks Private Credit: Asset-Backed Finance Explained | Victory Park Capital Wynnchurch Capital Port Co M2S Group Surpasses $1 Billion in Annual Revenue with Acquisition of Heartland Label Printers Frontenac Port Co Motion & Control Enterprises Acquires Salentine Pump & Equipment Professional Advisor News Ropes & Gray Advised McNally Capital in Majority Investment in TENICA Global Solutions Sidley Represents Castle Creek Capital in Tri-County Financial Group’s US$204.6 Million Merger with HBT Financial Carried Away Series — Management Fees and Self-Employment Taxes – Structuring for Tax Efficiency After Sirius Solutions and Soroban Ropes & Gray Represented Ripple Fiber in Acquisition by Eaton Fiber Sidley Represents Goldman Sachs Alternatives in Acquisition of Tosca From Apax Funds BDO PRIVATE EQUITY PERSPECTIVES PODCAST EPISODE 57B: No Shortcuts: The Case for Patient Sourcing and Earned Partnerships– PART B Ropes & Gray Advised New Mountain Capital in Acquisition of Jensen Hughes Sidley Represents MarineMax in Its US$1.5 Billion Sale to Blackstone Infrastructure Portfolio Company, Safe Harbor Fifth Circuit Narrows, but Preserves, Taxpayer-Favorable Ruling on Limited Partner Exception to Self-Employment Tax on Rehearing Three Ropes & Gray Partners Named Notable Leaders in Accounting, Consulting & Law by Crain’s New York Business Sidley Represents Northcote Equity in Investment in Lockhart Capital Management Ropes & Gray Advised NEOS Investments in Sale to Goldman Sachs Sidley Represents Acteon in the Sale of Menck to Cadeler Ropes & Gray Advised Altamont Capital Partners in Accelerant Take-Private Acquisition by Thoma Bravo Sidley Represents Sapiom in US$35 Million Series A Financing 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. NEW! NextGen Growth Partners - Senior Analyst, Investments Hyde Park Angels - HPA Venture Operations Manager Decasonic – AI Operations Manager TechNexus Venture Collaborative – Sr. Accountant

IVCA Scholars Complete a Summer of Learning, Mentorship, and Industry Exposure This summer, 12 undergraduate students completed the IVCA Scholars Program, a 10-week immersive experience designed to provide talented students with firsthand exposure to Illinois' private equity and venture capital community. The program's success is driven by IVCA member firms and industry leaders who invest their time, expertise, and mentorship in developing the next generation of investment professionals. This year's scholars were welcomed by Avathon Capital, BPOC, Exposition Ventures, Frontenac, Growth Catalyst Partners, OCA Ventures, PPC, Prairie Capital, RoundTable Healthcare Partners, The Vistria Group, Victory Park Capital, and Water Street Healthcare Partners , where they gained hands-on experience and insight into the day-to-day work of private markets investing. The Scholars represent leading universities from across the country, including the University of Chicago, University of Illinois, University of Michigan, University of North Carolina, University of Notre Dame, Northwestern University, and Yale University. The summer began with an onboarding program and IVCA extends its gratitude to Jose Liberti (Kellogg School of Management), David Presser and Robert Christe (Neal Gerber & Eisenberg), Joey Mak (Chicago:Blend), Carlos Covarrubias (HPVP), Abhinaya Konduru (M25), Ricardo Iriarte (Adams Street Partners and IVCA Scholar alumnus), and Dave Stricklin (Stricklin & Associates) for sharing their expertise and helping scholars build a foundation in private equity, venture capital, fund structures, career development, and Illinois' investment ecosystem. Throughout the summer, scholars participated a series of office visits that provided exposure to a broad range of firms, strategies, and career paths. IVCA extends its sincere appreciation to 50 South Capital, Avathon Capital, Baker Tilly, BPOC, Deerpath Capital, Frontenac, Growth Catalyst Partners, ParkerGale, Plante Moran, PPC, Prairie Capital, RoundTable Healthcare Partners, The Vistria Group, Thoma Bravo, Vokal, and Water Street Healthcare Partners for opening their doors and providing scholars with an inside look at the firms and professionals that make Illinois one of the nation's leading private capital markets. The impact of these experiences was evident throughout the summer. Following the scholars' final presentations, Carrie Raffin of Water Street Healthcare Partners shared, "I was very impressed with the level of professionalism among the interns and the very thoughtful questions that were asked. You have a very impressive crew this year and we are happy to support and participate in the program." The scholars echoed that enthusiasm. Anna O'Brien described the experience as instrumental in helping her refine her career goals and highlighted the mentorship she received during her internship. Sarah Graham reflected on the professional relationships and friendships formed throughout the summer, citing the office visits and networking opportunities among her favorite aspects of the program. Since its inception, more than 100 students have participated in the IVCA Scholars Program, and five alumni now work at IVCA member firms. The continued engagement of host firms, office visit partners, speakers, mentors, and alumni demonstrates a shared commitment to strengthening Illinois' private equity and venture capital talent pipeline. IVCA congratulates this year's scholars and thanks the many firms and industry leaders whose support made this summer's program possible. Their investment of time and expertise is helping prepare the next generation of leaders for careers across Illinois' investment ecosystem. The IVCA Scholars Program is proudly supported by the IVCA Foundation, whose mission is to increase access to career opportunities and cultivate a diverse pipeline of future leaders for Illinois' private equity and venture capital industry

ILLINOIS VENTURE CAPITAL ASSOCIATION ILLINOIS LEGISLATIVE REPORT David Stricklin / Stricklin & Associates Wednesday, August 19, 2026  STATE FAIR TAKES CENTER STAGE FOR POLITICS IN THE PRAIRIE STATE Illinois elected officials running for re-election or building a network for a run at higher office are among the participants at the annual political days at the Illinois State Fair in Springfield yesterday, today, and tomorrow. Democrats hold sway currently as they occupy all the Constitutional offices, the Senate, the House, and both U.S. Senate seats. Today is Governor’s (Democrat) Day, tomorrow is Republican Day. Throw in candidates running for Mayor of Chicago, even though it’s technically a non-partisan election, and it’s a throwback to the days of stemwinders and old fashioned retail politics. * WGN | Campaign season kicks off at the Illinois State Fair : Major players in campaign and government will descend on Springfield this week to rally support ahead of the November general election. Democrats will gather Wednesday morning for their annual brunch with the Illinois County Chairs’ Association. Sen. Elizabeth Warren from Massachusetts will headline the events. Party leaders are also expected to honor Sen. Dick Durbin, who is retiring in January after a political career that spans four decades. Illinois Republicans also made sure to concentrate on the fallout from the resignation of former Rep. Harry Benton on sexual harassment charges and the adequacy of the steps taken by Illinois House Speaker Chris Welch before, during, and after the Benton case. After this week the political circuit moves downstate for the Du Quoin State Fair, the second of two fairs operated by the State of Illinois. AFTER LABOR DAY Looking ahead to what confronts policy makers after the political circuit has concluded, big issues include regulating data centers, which has become a polarizing issue in many states including Illinois. Unique to Illinois, the resolution of where the Chicago Bears will call home and increased funding for the Chicago Public Schools are among the thorny issues which will require attention leading up to the Veto Session in November.

IVCA CFO Summit The Premier Gathering for Private Equity, Venture Capital & Family Office Finance Leaders Presented in Partnership with EY Hosted by Northern Trust Sponsorship available! EXHIBITing SPONSOR $3,000 ✅ Tabletop exhibit space at the Summit ✅ Two (2) event registrations ✅ Logo placement in event materials & signage ✅ Full access to structured networking ✅ Two-minute recognition from the podium ✅ We limit the number of sponsors per category so every partner gets real visibility not lost in a crowd of logos. Once a category is full, it's full Sponsorship categories are limited to maximize visibility for every partner. Join our Current Sponsors: Presenting Sponsor: EY Hosting Sponsor: Northern Trust Content Sponsor: Kirkland & Ellis LLP Exhibiting / Content Sponsor: Alter Domus Questions? Let's find the right fit for your firm. Kathy Pyne • kpyne@illinoisvc.org IVCA CFO Summit • Presented in Partnership with EY • Hosted by Northern Trust