Government Affairs Agenda

IVCA supports an entrepreneurial spirit in Illinois' public policy that encourages economic and business development and rewards investment in job creation and job relocations. To that end, IVCA's government affairs objectives, developed by the IVCA Legislative Committee and adopted by the IVCA Board of Directors, seek to:

Educate government officials in Illinois about the positive effects venture capital and private equity investment in Illinois has on economic and job growth.

Encourage Illinois officials to promote and maintain a business environment that supports venture capital and private equity investment in Illinois through:

    • Increased public pension investment in venture capital and private equity and, all things being equal, with Illinois-based firms.
    • An expanded Technology Development Fund.
    • Exploration of state initiatives to promote early stage (seed/angel) investment in Illinois companies.
    • Removal of disincentives to private equity investing, which include:
      • Advocating for pension fund reform to provide transparent, competitive, performance-based opportunities to access public pension fund investments
      • Clarifying of restrictions on public pension funds' private equity investing to ensure that any and all restrictions are workable and allow the private equity community to comply
      • Eliminating discriminatory taxes
      • Clarifying the Freedom of Information Act

IVCA is a state trade association which does not lobby on the federal level. However, many of our members are increasingly affected by federal legislation and regulation. To help keep them informed about key federal actions, IVCA is providing links to relevant national trade associations including:

  • National Venture Capital Association (NVCA)
  • American Investment Council (AIC)
  • Small Business Investor Alliance (SBIA)
  • Biotechnology Industry Organization (BIO)


Additional information links will also be provided when available.

The IVCA Scholar Program

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The IVCA Scholar Program is intended to create an inclusive industry with more gender, racial and ethnic diversity by providing undergraduate students exposure to a possible career in the venture capital/private equity industry.

The IVCA Scholarship provides undergraduate students a very rare opportunity to be placed with a venture capital or private equity firm for 10 weeks. In addition, Scholars will participate in informational & training sessions at a variety of investment firms and at professional service providers that partner with Venture Capital & Private Equity investors (accounting, investment banking, valuation, legal, consulting etc.).

The Program


This program offers a 10-week, deep dive into the industry with significant exposure at a venture capital or private equity firm.  Assuming successful program completion, students will be granted a $10,000 stipend during the summer.

The program seeks to engage "underrepresented" groups (women & persons of color) in their undergraduate education so that they can better their chances for a position in the industry through training and networking experience. Since its inception in 2007, 78 students have taken part in the program.


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

As a student


As a student, if you would like to apply for the upcoming 2023 program, which begins June 2023, please click HERE for eligibility requirements and application process.

The 2023 IVCA Scholar class has now been finalized.  Solicitation for the 2024 Scholar class will begin in early September 2023.

As a firm


As a firm, if you are considering participating in our program, please contact Maura O'Hara at

IVCA Diversity Program Series

In spite of how much we have committed to DEI (Diversity Equity Inclusion), how much we have talked about it, and the efforts we have taken to achieve it, the outcomes in today's workplaces, especially in our industry, do not seem to reflect our intentions.

  • Why are our inputs not resulting in our desired outputs?
  • Are we doing the wrong things?
  • Do we need to give it more time?
  • Should we be doing additional things?
  • Is it primarily up to organizations to affect change or can individual actions make a difference?
Past Events

March 22, 2022 - IVCA Webcast: Inclusion in Action Series, Part 1 - Why Inclusion Efforts Aren't Working in Workplaces Today and What You Can Do About It.
Missed it and would like to see the recording? Click HERE!

June 29, 2022 - IVCA Webcast: Inclusion in Action Series, Part 2 - How to be an Upstander When You See Bias in Action.
Missed it and would like to see the recording? Click HERE!

September 8, 2022 - IVCA Inclusion in Action, Part 3 - How To Be Authentic at Work, Especially in Uncertain Times.
Missed it and would like to see the recording? Click HERE!

November 18, 2022 - IVCA Inclusion in Action, Part 4 - Strategies for Survival: Cultivating Mentors and Allies for Success
Missed it and would like to see the recording? Click HERE!