IVCA Newsletter – April 24, 2024

Association News

IVCA Feature: New Member Profile of North Branch Capital

Only 2 weeks left to register for the 2024 IVCA Spring Luncheon “State of the Debt Market” on May 8, 2024!

Recently Released by Pitchbook – Q1 2024 Venture Monitor report

Legislative News

IVCA Provides Updates for State Legislative Issues – 04/24/2024


IVCA Events

May 8, 2024 – 2024 IVCA Spring Luncheon – Sponsored by Baker Tilly and Ropes & Gray

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

April 29-May 1, 2024 – DealMAX 2024

May 21-22, 2024 – INVEST Healthcare Investment Conference 2024

October 10, 2024 – MVCA 17th Annual Awards Celebration

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


Industry News

Runway Growth Capital Provides a $40 Million Growth Investment to CarNow

Victory Park Capital Announces $100 Million Credit Facility for Sétanta Development Capital

7wireVentures Invests in Summer Health

Vedder Price Represents Resco in its Acquisition by RHIM

Unlocking Opportunities with Private Credit Funds | BDO

Sidley Advised Armis in US$150 Million Acquisition of Silk Security

Ropes & Gray Represents EQT Private Equity in its Acquisition of Avetta

Periscope Equity Announces Investment in eHouse Studio

Monroe Capital Supports Altamont Capital Partners’ Bishop Lifting Products, Inc.

Habi announces US$30 Million commitment from IFC and Victory Park Capital to improve Latin American real estate sector

Vedder Price Representing Elevated Facility Services Group in Pending $570 million Sale to APi Group Corporation

Sidley Represents Underwriters in Contineum Therapeutics IPO

Ropes & Gray Represents New Mountain Capital in Strategic Investment in The Rawlings Group

Prospect Partners Invest Into Warren Roofing And Forms Extera Building Solutions

Monroe Capital Supports Growth of Exiger

Wynnchurch Capital Invests in Handgards

Vedder Price Representing Oil-Dri in $46 Million Acquisition of Ultra Pet

Sidley Advises Lumana in Its US$24 Million Series Seed Financing

Ropes & Gray Advises Virtusa on its Acquisition of ITMAGINATION

ARCH funds neuropsychiatry company Seaport Therapeutics, led by the team behind Karuna Therapeutics

Monroe Capital Supports Leeds Equity Partners’ TouchMath

Sidley Represents ICON Aircraft in Chapter 11 Filing

Ropes & Gray Advises Kanders & Company in Acquisition of Businesses from Defense Contractor L3Harris

Wind Point Partners Announces Sale Of Handgards To Wynnchurch Capital

Pfingsten Port Co Sign-Zone Expands with AAA Innovations

Prairie Capital Port Co Legacy Acquires HomeCare Hospice

Benford Capital Partners Port Co Pasture Brands Acquires Pillars Yogurt

Ropes & Gray Represents American Industrial Partners Capital Fund VIII on Closing Take-Private of Boart Longyear Group

Main Street Billionaire: Forbes Interview of Shore Capital Partners and Justin Ishbia

Ropes & Gray Advises Bain Capital on the Sale of Zellis

Buyer Beware: What to Know About the DOJ’s Policy on Self-Reporting in M&A

Ropes & Gray Advises Activant Capital in its Strategic Investment in Platform Science

EU Formally Adopts Cyber Law for Connected Products

Ropes & Gray Represents Surgery Partners in $800 Million High Yield Senior Notes Offering


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! 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:

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