IVCA Newsletter – November 29, 2023

Association News

IVCA Profile: Private Equity Portfolio Company of the Year at the upcoming 2023 IVCA Awards Dinner is Right At School

IVCA Profile: Venture Capital Portfolio Company of the Year at the upcoming 2023 IVCA Awards Dinner is Nerdio


Legislative News

IVCA Provides Updates for State Legislative Issues – 11/29/2023


IVCA Events

December 4, 2023 – 2023 IVCA Awards Dinner


Other Events of Interest

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


Industry News

First Analysis portfolio company Fleetworthy Solutions acquired by Bestpass

Avathon Capital Named to 2003 List of Founder-Friendly Investors

CORE Industrial Partners Completes the Sale of J&K Ingredients

Sidley Represents Savillex Corporation, a Portfolio Company of Thompson Street Capital Partners, in Acquisition of Onfab From Foresight Group

Boston-Led Locke Lord Team Represents Brynwood Partners in Closing of Its Ninth Fund at $750 Million

GTCR to Acquire Cloudbreak Health

Why We Invested in Pavewise – M25

Runway Growth Capital Provides a $50 Million Debt Commitment to Linxup

Arlington Capital Partners Completes Acquisition of Exostar from Thoma Bravo

Sidley Represents the Professional Fighters League in the Acquisition of Bellator

Red Collar Pet Foods Sale Recognized with M&A Deal of the Year

Cantai Therapeutics is Co-Founded by Agent Capital and 82VS to Advance Next-Generation Bispecific Antibodies for Autoimmune Diseases

Building a Commercial Door Openings and Access Control Platform: Frontenac Partners with Integrated Openings Solutions™

Sidley Represents Novant Health in US$2.4 Billion Acquisition of Three Tenet Healthcare Hospitals

Here’s why AI isn’t a bubble – Paul Hsu, Decasonic

Wynnchurch Capital Announces Team Expansion

Sidley Represents Carlin Consumer Health in its Acquisition of Infirst Healthcare

China’s Generative AI Measures Could Affect Life Sciences Companies That Make Apps

EU Moving Closer to an AI Act?


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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