INITIATIVES

Government Affairs Agenda

IVCA supports a pro-entrepreneurial public policy environment in Illinois that promotes economic growth, business development, and investment in job creation and expansion.


To advance these priorities, IVCA’s government affairs objectives, developed by the Legislative Committee and approved by the Board of Directors focus on:


Encourage Illinois policymakers to promote and maintain a business environment that supports private equity and venture capital investment by:


  • Expanding public pension investment in private equity and venture capital, including opportunities with Illinois-based firms


  • Strengthening state-supported innovation initiatives, including the Technology Development Fund


  • Supporting policies that foster early-stage investment, including seed and angel capital formation


Removing barriers to private investment, including:


  • Advocating for pension fund policies that are transparent, competitive, and performance-based


  • Clarifying regulations governing public pension investments in private equity to ensure they are practical and effective


  • Eliminating tax policies that create disadvantages for private investment activity



  • Ensuring public disclosure requirements, including FOIA, are implemented in a way that protects sensitive investment information


IVCA-PAC/Legislative Board

Guidance from IVCA-PAC on Political Contributions

IVCA is a state trade association and does not engage in federal lobbying. However, because federal policy significantly impacts private investment activity, IVCA works closely with national trade associations and supports industry-wide advocacy efforts to stay informed and engaged on key federal issues.


IVCA also connect members to leading national organizations, including:


The IVCA Scholar Program

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IVCA Scholars Program

The IVCA Scholars Program develops the next generation of talent in private equity and venture capital while strengthening Illinois’ investment ecosystem.


The program provides highly motivated undergraduate students with direct exposure to the industry through a competitive, immersive summer experience. Each year, selected scholars are placed with leading private equity and venture capital firms, where they gain hands-on experience and insight into the investment process.


In addition to their firm placements, scholars participate in a structured professional development curriculum that includes weekly educational sessions, networking opportunities with industry leaders and advisors. These experiences help build technical skills, industry knowledge, and valuable professional relationships.


The 10-week program concludes with a $10,000 scholarship awarded to each scholar who successfully completes the program.


Through the Scholars Program, IVCA is creating a pipeline of future investment professionals while providing member firms with access to high-potential emerging talent. Since its inception, more than 100 students have participated in the program with alumni pursuing careers across private equity, venture capital, investment banking, consulting and other areas of the financial services industry.


Program Details

  • Duration: June 7 to August 13, 2027
  • Eligibility: Undergraduate students entering junior or senior year in Fall 2027
  • Academic Background: All majors welcome; demonstrated proficiency in Excel is required
  • Placement: Scholars are matched with a venture capital or private equity firm
  • Work Schedule: Host firms will establish specific work schedules and in-office expectations with each scholar
  • Industry Programming: Scholars must attend weekly industry education and networking sessions, typically requiring a half-day commitment each week
  • Pre-Program Requirement: Completion of the Adventis Financial Modeling Certification (provided by IVCA) before the program begins
  • Location: This is an in-person program. Scholars must reside in the Chicago metro area throughout the program
  • Housing & Transportation: Participants are responsible for securing their own housing and transportation
  • Career Opportunities: Participation in the Scholars Program does not guarantee future employment with a host firm.

Immediate family members of IVCA member firm employees are not eligible to participate in the IVCA Scholars Program.

Selection Criteria

Applicants must meet the following requirements:

  • Be a U.S. citizen
  • Residency Requirement: Applicants must either:
  • Be a permanent resident of IL; or 
  • Attend an Illinois college or university and be a permanent resident Indiana, Iowa, Michigan, Ohio or Wisconsin.

A valid driver’s license or other government-issed identification required to verify residency.

  • Have completed at least two years of undergraduate coursework by the start of the program.
    Preference may be given to students entering their junior year.
  • Demonstrate strong communication, analytical, and Excel skills.
  • Coursework in finance, accounting, economics, business or a related field is preferred but not required.
  • Identify as one of the following:
  • A woman; or
  • A person of color, as defined by the U.S. Census Bureau, including Black or African American, Hispanic or Latino, American Indian or Alaska Native, Asian, Native Hawaiian or Other Pacific Islander or as multiracial.


Application Deadline

Check back in late summer for the next application cycle.  Contact ivca.scholar@illinoisvc.org with questions.

What Scholars Say

🔷 Scholar Testimonial


  • "I had a great experience as an IVCA Scholar and gained valuable first-hand exposure to private equity. I was able to learn directly from CEOs, CFOs, and partners while developing my technical skills. The program has put me in a much stronger position to pursue a career in high finance.”


  • "The IVCA Scholars Program was instrumental in helping me refine my career goals. The mentorship and hands-on experience I received during my internship provided invaluable insight into the private capital industry and helped shape my professional aspirations."


  • "One of the most rewarding aspects of the program was the relationships I built throughout the summer. The office visits, networking opportunities, and connections with fellow scholars provided an incredible experience and a deeper understanding of the industry."



🔷 Firm Testimonial


  • “Our IVCA Scholar contributed to meaningful work across deal activity and operations. The program provides a strong pipeline of talent and gives students exposure to a wide range of firms—it’s a win-win.”


  • "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."



How will the IVCA Scholar Program benefit you? View video below.

AS A STUDENT

Information about the next application cycle will be available soon. We encourage you to check back for updates.


For questions, please contact ivca.scholar@illinoisvc.org.

AS A FIRM

Interested in hosting an IVCA Scholar? Connect with emerging talent and support the next generation of private equity and venture capital professionals.


To learn more about participating as a host firm, please contact ivca.scholar@illinoisvc.org.