IVCA Newsletter – October 18, 2023

Association News

IVCA Feature: Issues for VC & PE Related to Artificial Intelligence


Legislative News

IVCA Provides Updates for State Legislative Issues – 10/18/2023


IVCA Events

October 18, 2023 – It’s time for an IVCA Happy Hour!

October 26, 2023 – 2023 IVCA CFO Summit

December 4, 2023 – 2023 IVCA Awards Dinner


Other Events of Interest

November 16, 2023 – Chicago Innovation Awards


Industry News

Pfingsten Closes Oversubscribed Fund VI, Raising $435 Million

The Edgewater Funds Announces Investment in Turbine Engine Specialists (TES)

Wind Point Partners Acquires Assisi Pet Care

Sidley Represents SunOpta in US$141 Million Sale of Its Frozen Fruit Assets

Growth Catalyst Partners Forms New Platform to Advance Data Leadership and Develop Data-Empowered Organizations

Monroe Capital Supports Gemspring Capital’s Acquisition of ClearCompany

Sidley Represents Eldridge in US$1.7 Billion Financing for Metropolis’s Take-Private Acquisition of SP+

Victory Park Capital’s Olibia Stamatoglou Recognized as Notable Leader in DEI by Crain’s Chicago Business

Early win helps inspire template for Arbor Investments success

Sidley Represents BMW i Ventures in Formants Series C Financing

Sidley Represents Wren House in Joint Venture and Acquisition of Interest in SeaCube Containers

Growth Catalyst Partners Port Co Equine Network Acquires The Patriot Events

Frontenac Port Co Dealer Services Network Acquires Terry’s Tag and Title Service

Water Street Healthcare Port Co EVERSANA Expands Global Commercialisation Capabilities with Healthware Group Acquisition

Frontenac Port Co Motion & Control Enterprises Completes 5th Acquisition of 2023; Acquires Nova Hydraulics, Inc.

A Deeper Dive — Current Issues in Corporate Venture Capital

Sidley Antitrust Bulletin: Top-of-Mind Global Antitrust Issues

Sidley Update: Artificial Intelligence: Key Business and Legal Issues to Consider


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! Kinzie Capital Partners – Accounting & Investor Relations Associate

To support the growth in their operations team, Kinzie Capital Partners seeks an Accounting & Investor Relations Associate (the “Associate”) to assist the team by taking an active role in supporting management company and fund accounting. The Associate will also assist with investor relations and reporting projects. The position will be based on-site in Chicago, Illinois and will report to the VP of Finance and Accounting.

All submissions should be sent to Employment@kinziecp.com.

Responsibilities

  • Maintain general ledger accounts and record journal entries in connection with the month-end, quarter-end, and year-end close processes.
  • Prepare and analyze monthly, quarterly, and year-end financial reporting packages including financial statements, budgets, forecasts, and expense allocations.
  • Assist with the fund accounting and analysis for assets managed by the firm. Oversee the day-to-day fund accounting alongside the fund administrator.
  • Prepare and analyze weekly cash flow forecast, reconciliation, and assist with cash movements.
  • Manage the Accounts Payable, Bill Pay, and Payroll functions for the firm.
  • Support with external annual audits, tax preparation and regulatory filings.
  • Assist with the preparation and review of the quarterly and annual investor statement packages and monitor delivery in adherence to regulatory and industry standards.
  • Assist with the preparation of investor presentations and fundraising materials.
  • Maintain organized investor data and relationship management in Salesforce.
  • Assist in preparing capital call and distribution workpapers and notices.
  • Ad-hoc projects as assigned by the supervisor.
  • Assist with general operations and compliance tasks.

Requirements

  • 1 to 3 years of professional experience in Finance and Accounting; Public Accounting, Private Equity or Fund Accounting experience preferred.
  • Bachelor’s Degree or higher in Accounting or Finance
  • CPA or on a CPA Track preferred.
  • Strong understanding of accounting fundamentals is required, including hands-on experience with account reconciliations, variance analysis, and cash flow analysis. Exposure to budgeting and forecasting is beneficial.
  • Proficient in the use of Microsoft Office programs including Word, Excel, PowerPoint and Outlook. Experience with Salesforce is a plus.
  • Strong financial, quantitative, and analytical skills.
  • Displays a high level of initiative and remains curious about new ideas while understanding and communicating risks.
  • Ability to prioritize and multi-task in a fast-paced, dynamic environment.
  • Ability to operate independently and make decisions with ambiguity.
  • Thrives in a collaborative, team-player office environment.
  • Highly organized and detail oriented.
  • Excellent communication skills, both written and verbal.
  • Proven ability to handle confidential information with discretion and demonstrate the highest level of client service, ethics, and integrity.

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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