IVCA Newsletter – November 15, 2023

Association News

We can’t wait to see you at the 2023 IVCA Awards Dinner! Tables and tickets are now available for purchase

IVCA Profile: Jennifer Steans, Recipient of the 2023 Richard J. Daley Award at the Upcoming IVCA Awards Dinner

IVCA Profile: Outgoing Executive Director Maura O’Hara, on Her 20 Years with the Illinois Venture Capital Association


Legislative News

IVCA Provides Updates for State Legislative Issues – 11/15/2023


IVCA Events

December 4, 2023 – 2023 IVCA Awards Dinner


Other Events of Interest

November 16, 2023 – Chicago Innovation Awards

December 6, 2023 – BDO’s Annual Private Equity Fund CFO Roundtable


Industry News

High Street Capital Invests in Adams Magnetic Products

ParkerGale Capital Establishes New AI-Fueled Market Intelligence Platform With Combination of Gap Intelligence and Deep.ad

Boston Centerless Partners with May River Capital

SOC Reporting for Private Equity: Protecting Assets and Avoid Surprises at Exit

Sidley Represents American Healthcare REIT in Its Acquisition of NorthStar Healthcare Income’s Interest in Trilogy REIT Holdings

Vedder Price Represents The Edgewater Funds in Turbine Engine Specialists (TES) Investment

Ropes & Gray Represents Vision Ridge Partners and Havila Holding in the Sale of Fjord1

CORE Industrial Partners Announces Investment in Century Box

Monroe Capital Supports Wind Point Partners’ Acquisition of Central Moloney

Wind Point Partners Announces Sale of Critica Infrastructure to Henkel AG & Co. KGaA

Sidley Represents Fleming in US$277 Million Acquisition of JRG Re from James River

Five Private Equity Trends Life Sciences Companies Need to Know

Vedder Price Represents JohnsByrne in sale to GHK Capital Partners

Ropes Gray Advises Brookfield on Joint Venture Acquisition of UK Airport Logistics Assets

Thoma Bravo Completes Acquisition of NextGen Healthcare

GTCR Announces Promotions and New Leadership for Portfolio Resources Group

Sidley Represents Excolere Equity Partners in Strategic Partnership With GCM Grosvenor’s Elevate Strategy

Ropes & Gray Represents Compass Diversified in its Sale of Marucci Sports for $572 Million

CORE Industrial Announces New Office Locations in Key Regions

Sidley Advises Stonepeak on Its Investment Into Singapore-Based AGP Sustainable Real Assets

Ropes & Gray Advises Pharmathen on Acquisition of CBL Patras

Frontenac Port Co Motion & Control Enterprises Completes 6th and 7th Acquisition of 2023; acquires Applied Industrial Controls, Inc. and Engineered Systems Group, LLC

CORE Industrial Partners Furthers Its Investment Thesis into Folding Carton Packaging Sector with the Acquisition of General Converting

Ropes & Gray Represented Morgan Stanley Tactical Value in Music Copyrights Investment

Digital Health and Artificial Intelligence: New Developments From President Biden’s Executive Order

Cressey & Company Named to Inc.’s 2023 List of Founder-Friendly Investors

Decasonic Named in Inc.’s 2023 List of Founder-Friendly Investors

Monroe Capital Named to Inc.’s 2023 List of Founder-Friendly Investors

Runway Growth Capital Named in Inc.’s 2023 List of Founder-Friendly Investors

Shore Capital Partners Named to Inc.’s 2023 List of Founder-Friendly Investors

Thoma Bravo Named to Inc.’s 2023 List of Founder-Friendly Investors

Ropes & Gray Advises Legends in ASM Global Acquisition

AI-Powered Drug Discovery Efforts Could Lead to New Treatments

Ropes & Gray Represents Gridiron Capital in RidgeLake Partners Strategic Investment

Ropes & Gray Represents Process Sensing Technologies (PST), a Portfolio Company of AEA Investors, on the Acquisition of Fluid Components International


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! 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.

Responsibilities:

  • Perform financial modeling and analysis of growth and venture stage companies
  • Conduct investment due diligence on companies of all stages, seed through growth
  •  Record all deal information for reporting and trend analysis
  •  Research and report on industry trends and potential new business models
  •  Support Investment Committee presentations and manage relationships across the Blue plan ecosystem and broader healthcare industry
  • Assist in all aspects of portfolio company management
  • Source potential investment opportunities

Experience:

  • 2-5 years’ experience
  • Financial modeling and analysis experience required
  • Healthcare finance, strategy or operating experience strongly preferred

Skills:

  • Strong communication (oral and written) and presentation skills
  • Excellent financial modeling, valuation, and analytical skills
  • Intellectual curiosity and ability to ask hard questions
  • Demonstrated interpersonal and relationship-building skills
  • Track record of good judgment and ability to navigate ambiguity
  • Ability to prioritize and manage multiple initiatives in a fast-paced, entrepreneurial environment

Location:

  • Chicago, Illinois
  • Investment team members are expected to work in Sandbox’s office on Monday, Tuesday and

Wednesday of each week

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.

Chicago Pacific Founders – Senior Fund Controller

COMPANY OVERVIEW

Chicago Pacific Founders (CPF) is a top decile Chicago‐based private equity firm that was established in 2014 to serve as a registered investment advisor that manages private funds and partners with companies that the firm believes are position to lead innovations in healthcare delivery and in caring for aging populations. CPF primarily focuses on growth companies in targeted sectors where the fund can contribute significantly beyond its capital.

Currently, through its three buy‐out funds and a Healthcare focused real estate fund, the firm has 24 investments across multiple investment strategies, including healthcare real estate.

POSITION OVERVIEW

The Senior Fund Controller will support the growth of its investment platform and play a key leadership role in the CPF’s accounting, tax, and financial reporting functions. The role will work closely with the firm’s CFO/CCO and COO, this professional will handle critical areas of the firm’s investment and accounting process, including maintenance of the management company general ledger, treasury and cash management, quarterly financial reporting, the creation, and maintenance of supporting schedules, reporting to investors, and collaboration with the firm’s fund administration team on all fund accounting matters.

For more detail, please click HERE!

CONTACT:  David Han, dhan@cpfounders.com

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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