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FEATURE ARTICLE:

IVCA Newsletter – June 5, 2024

By Kathy Pyne | June 5, 2024

Association News

IVCA Feature: New Member Profile of Deloitte

Legislative News

IVCA Provides Updates for State Legislative Issues – 06/05/2024


IVCA Events

June 24, 2024 – IVCA Invitational hosted by IVCA Promoting Diversity Foundation

October 24, 2024 –IVCA CFO Summit for VC and PE Professionals sponsored by Plante Moran

December 9, 2024 – IVCA Annual Awards Dinner presented by Kirkland & Ellis, LLP


Other Events of Interest

July 22-26, 2024 – TECHICAGO Week 2024

October 10, 2024 – MVCA 17th Annual Awards Celebration

October 29, 2024—October 30, 2024 – 3 Rivers Venture Fair


Industry News

Svoboda Capital Partners Announces Partnership with Highdive

North Branch Capital Expands Its Mobile Equipment Aftermarket Parts Platform with the Acquisition of PowerX International

Pfingsten Launches Ascend Platform

Monroe Capital Supports Avathon Capital’s Acquisition of Summit Professional Education

Vedder Price Represents Raptor Scientific, an L Squared Capital Partners portfolio company, in pending $655 Million Sale to TransDigm

Ropes & Gray Advises Bain Capital Special Situations in its Sale of a Minority Stake in Douzone Bizon

Sidley Represents Stonepeak in its Sale of WTG Midstream Holdings LLC for US$3.25 Billion

GCP Invests in Dimension to Fuel International Expansion

Hansen Hunter Announces Partnership with Water Street

Wynnchurch Capital Acquires Hydraulic Technologies from SPX FLOW

Vedder Price Represents L Squared Capital Partners in Strategic Growth Investment in TeachTown

Sidley Represents Shadowbox Studios in 15 Seconds of Fame’s US$15 Million Series A Financing

Monroe Capital Supports Dealer Services Network’s Acquisition of Express OMV

Surmodics Enters into Definitive Agreement to be Acquired by GTCR for $43.00 Per Share in Cash, Representing an Approximate Equity Value of $627 Million

Sidley Represents Gamma Biosciences on Its US$600 Million Sale of Mirus Bio

Ropes & Gray Advises Bain Capital in the Refinancing of Classys

Frontenac Port Co Integrated Openings Solutions™ (IOS) Joins Forces with Suncoast Commercial Door & Hardware

CORE Industrial Partners Portfolio Company PrecisionX Group Acquires National Manufacturing

Frontenac Port Co Newterra Acquires Carbon Service & Equipment Company (CSEC) from Encotech Inc.

Sidley Advises Cardinal in Its Acquisition by Miro

Ropes & Gray Advises Sound Physicians on $1 Billion “Uptier” Liability Management Transaction

Periscope Equity’s Ami Mehta & Joe McIlhattan Featured on BluWave’s Karma School of Business Podcast

Sidley Represents Tencarva Machinery Company in Its Acquisition of Tri-State Coating & Machine

ICO Publishes Its Strategic Approach to Regulating AI


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! IL DCEO – Venture Capital Program Investment Manager

Overview:
This role is at the Illinois Department of Commerce & Economic Opportunity (DCEO) and a part of the team implementing the $114 million Illinois Innovation Venture Fund (INVENT), a direct equity venture capital program funded through the federal State Small Business Credit Initiative (SSBCI). This is a supervisor-level position and will oversee 1-4 staff while managing the day-to-day operations of the program’s activities, such as deal sourcing, due diligence, coordinating approvals, deal closing, monitoring, reporting, compliance, etc. The Investment Manager will report to the Venture Capital Program Manager.

Applicants can apply here: https://illinois.jobs2web.com/job/Chicago-VCP-Investment-Manager-IL-60661/1173671200/

New! Sandbox Industries – Vice President position (Clinical Innovation)

Sandbox Industries

We are seeking passionate and self-motivated people to join our growing clinical innovation investment team. Within clinical innovation, our team seeks to invest in precision medicine, diagnostics, medical devices, and artificial intelligence for diagnosis, treatment, and trials. This role offers tremendous growth opportunities and exposure across the entire investment lifecycle. We are looking for a candidate who is self-motivated, detail oriented, and intellectually curious and is excited to contribute to our team’s growth.

Responsibilities:

  • Lead thoughtful and in-depth due diligence on companies of all stages and support investment committee presentations
  • Source potential investment opportunities
  • Perform financial modeling and analysis of growth and venture stage companies
  • Record all deal information for reporting and trend analysis
  • Research and report on industry trends and potential new business models
  • Cultivate and manage relationships with key industry contacts, including limited partners
  • Assist in all aspects of portfolio company management

Experience:

  • 6+ years’ experience in an investing role
  • Experience leading deal processes, building financial models and conducting financial analysis required
  • Demonstrated interest and understanding of medical technologies, digital health, and the broader hospital and payor ecosystem
  • In addition to a bachelor’s degree, an advanced degree or background in life sciences, biomedical engineering, or related medical field is highly preferred

Skills:

  • Excellent verbal and written communication skills, with the ability to articulate complex ideas clearly
  • Strong interpersonal skills with the ability to build relationships and network within the med-tech and venture capital communities
  • Strong analytical and quantitative skills with proficiency in financial modeling and valuation
  • Intellectual curiosity and ability to ask hard questions within complex domains, including comfort and familiarity with scientific technical due diligence
  • Track record of good judgment and ability to navigate ambiguity
  • Ability to prioritize and manage multiple initiatives in a fast-paced, entrepreneurial environment

General:

  • This role is based in Austin, TX, Chicago, IL, or Palo Alto, CA, with occasional travel
  • Sandbox Industries compensation has a long-term outlook and philosophy. Base pay range for this role is $150k – $200k, commensurate with experience. Position is eligible for discretionary bonuses based on individual, team and company performance.

About Sandbox

Sandbox Industries invest in innovation to drive lasting change across healthcare, insurance, and sustainability. In line with our mission, Sandbox Industries has served as the exclusive provider of investment management services to the Blue Venture Funds for over a decade.

The Blue Venture Fund, a unique collaboration among Blue Cross Blue Shield companies, the Blue Cross Blue Shield Association, and Sandbox Industries, is owned, governed and capitalized by participating Blue Plans and affiliates. The Blue Venture Fund invests in venture and growth opportunities within healthcare technology, healthcare services and clinical sciences. Within clinical innovation, our team seeks to invest in precision medicine, diagnostics, medical devices, and artificial intelligence for diagnosis, treatment, and trials.

Sandbox is an Equal Opportunity Employer and considers applicants for employment without regard to race, color, religion, sex, orientation, national origin, age, disability, genetics or any other basis forbidden under federal, state, or local law.

Please find link to the job portal here

Onward Capital – Vice President position

About the Firm:

Onward Capital is a Chicago-based private equity firm focused on investing in and growing lower middle-market industrial businesses. Onward targets manufacturing and value-added distribution companies, typically with revenues between $20 million and $125 million. The Onward Partners have completed 60 private equity transactions and invested $600 million dollars of capital in the sector. For more information on Onward Capital, please visit www.onwardcapllc.com.  More about Onward Capital HERE!

About the Role

The Vice President will have the unique opportunity to become the first employee of an established independent sponsor. They will help to shape the firm from the ground up, taking a leading role in sourcing, executing, and managing investments. The successful candidate will be comfortable working on a small team in a fast-paced and entrepreneurial environment. They will have constant interaction with senior members of the firm as well as the senior management of our portfolio companies.  The Vice President will be given significant responsibility including:

  • Evaluation of potential investments
  • Analysis and support for portfolio company management
  • Supporting senior investment team members in all aspects of transaction execution
  • Designing, structuring, and carrying out due diligence analyses, including industry research, market and competitive assessments, financial modeling and analysis
  • Composing deal related documents and presentation materials
  • Participating in meetings with management teams, intermediaries, and financing sources
  • Active board member or board observer roles
  • Involvement in a range of firm-building activities, including business development, lender management, recruiting, training, etc.

More detail about this position is available on our website HERE!

Contact:  Laura Lester, llester@onwardcapllc.com

Pfingsten Partners Associate to Corporate Finance team

Company Description:

Pfingsten is a Chicago-based, operationally-driven private equity firm that invests in manufacturing, distribution and business services companies with revenue between $20 to $150 million and EBITDA between $3 to $12 million.  Since 1989, Pfingsten has completed 55 platform transactions and 109 add-on acquisitions. For more information on Pfingsten, please visit www.pfingsten.com.

Position Description:

Associates interact directly with all members of the firm and our portfolio companies and they will have a high degree of freedom to make a meaningful contribution to our firm’s future.  There is no set duration for Pfingsten’s Associate position. The strongest performers will have the opportunity to grow into additional responsibility with the firm. 

Start Date:

Immediate or Q1 2024

Contact: 

Phil Bronsteatter pbronsteatter@pfingsten.com

Sandbox Industries – Associate Position

Sandbox Industries invests in innovation to drive lasting change in human livelihood by fostering innovation across healthcare, insurance, and sustainability. We incorporate the best of traditional and corporate investing firms. Approximately 90% of the capital we manage is from strategic limited partners – large industry incumbents who are eager to embrace the innovations and technologies disrupting their businesses through a market-based approach. We partner with entrepreneurs who are seeking to make an impact on areas of high strategic value to corporate organizations, as well as with these organizations themselves. The primary medium for this work is venture capital.

In line with our mission, Sandbox Industries has served as the exclusive provider of investment management services to the Blue Venture Funds for over a decade. The Blue Venture Fund, a unique collaboration among Blue Cross Blue Shield companies, the Blue Cross Blue Shield Association, and Sandbox Industries, is owned, governed and capitalized by participating Blue Plans and affiliates. The Blue Venture Fund invests in venture and growth opportunities within healthcare technology, healthcare services and clinical sciences.

Associate Position

We are seeking passionate and self-motivated people to join our healthcare investment team to support all aspects of the investment process. Our team is open, thoughtful, and collaborative.

Please contact hctrecruiting@sandboxindustries.com if you are interested.

Sandbox is an Equal Opportunity Employer and considers applicants for employment without regard to race, color, religion, sex, orientation, national origin, age, disability, genetics or any other basis forbidden under federal, state, or local law.

Svoboda Capital Partners – Private Equity Associate

Svoboda Capital Partners, LLC (“SCP”) was founded in 1998 to invest in and help build business services and value-added distribution companies. SCP invests in leveraged buyouts, recapitalizations, and growth equity opportunities. SCP targets middle market growth companies which typically have between $10 million to $100 million in revenue and $3 million to $15 million in EBITDA.

Job Description:

Assist in identifying, evaluating, and executing potential acquisitions through due diligence, market research and financial modeling. Assist in the development and ongoing management of portfolio companies, including portfolio company and investor financial reporting. Assist in initiating and maintaining relationships with intermediaries and other investment sources.

The position requires direct interaction with the principals of SCP and top management of portfolio companies and offers a highly challenging and diverse experience. Position will be originally structured for a two-year term, but the opportunity for a third year may exist.

Contacts:

NEWS ARCHIVE:

IVCA Provides Updates for State Legislative Issues – 06/05/2024

By Kathy Pyne | June 5, 2024

Illinois Venture Capital Association Illinois Legislative ReportDavid Stricklin / Stricklin & AssociatesWednesday, June 5, 2024 IVCA CONTINUES WORK WITH IDOR ON PARTNERSHIP ISSUES Our work…

IVCA Feature: New Member Profile of Deloitte

By Kathy Pyne | June 5, 2024

June 5, 2024 As the new member participants in the Illinois Venture Capital Association (IVCA) keeps expanding, the current membership are given new opportunities for…

IVCA Newsletter – May 22, 2024

By Kathy Pyne | May 22, 2024

Association News IVCA Feature: Highlights of the 2024 IVCA Spring Luncheon … ‘State of the Debt Market’’ Yes! Sponsorships are still available for the 2024…

IVCA Feature: Highlights of the 2024 IVCA Spring Luncheon … ‘State of the Debt Market’’

By Kathy Pyne | May 22, 2024

May 22, 2024 One of the harbingers of spring and summer is the annual Illinois Venture Capital Association (IVCA) Spring Luncheon, which took place on…

IVCA Provides Updates for State Legislative Issues – 05/22/2024

By Kathy Pyne | May 22, 2024

Illinois Venture Capital Association Illinois Legislative ReportDavid Stricklin / Stricklin & AssociatesWednesday, May 22, 2024 IDOR RULEMAKING/LEGISLATION ON PARTNERSHIPS The Illinois Department of Revenue has…

Pritzker Private Capital Promotes Rebecca Converse to Partner

By Kathy Pyne | May 21, 2024

Proven Track Record of Building and Strengthening Long-Term Relationships with Key Partners to Advance Firm’s Differentiated Family Direct Investing Strategy CHICAGO – (May 21, 2024)…

IVCA Newsletter – May 8, 2024

By Kathy Pyne | May 8, 2024

Association News IVCA Feature: Supplemental Information Links Regarding ‘State of the Debt Market’ Yes! Sponsorships are still available for the 2024 IVCA Invitational! Legislative News…

Yes! Sponsorships are still available for the 2024 IVCA Invitational!

By Kathy Pyne | May 7, 2024

May 8, 2024 Join us for a fun and energizing day of golf, networking, and fundraising at the 2024 IVCA Invitational golf event in support…

IVCA Feature: Supplemental Information Links Regarding ‘State of the Debt Market’

By Kathy Pyne | May 7, 2024

May 8, 2024 Today, May 8th, is the 2024 IVCA Spring Luncheon, sponsored by Ropes & Gray and Baker Tilly. The topic is the “State…

IVCA Provides Updates for State Legislative Issues – 05/08/2024

By Kathy Pyne | May 7, 2024

Illinois Venture Capital Association Illinois Legislative ReportDavid Stricklin / Stricklin & AssociatesWednesday, May 8, 2024 HOME STRETCH / PHOTO FINISH? The legislative session just Saturday’s…