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Iowa Fund of Funds

Fund of Funds | Portfolio

ICIC accomplishes the purposes expressed in its enabling legislation (Iowa Code 15E.61) — to help emerging, expanding, and restructuring Iowa companies, including enterprises in the life sciences, advanced manufacturing, information technology, and value-added agriculture areas — via the organization and management of the Iowa Fund of Funds.

In 2005 ICIC engaged Cimarron Capital Associates I, LLC as the professional manager of the Iowa Fund of Funds program. The program, which raises private investment capital supported by contingent state tax credits, operates without State appropriations.

The Iowa Fund of Funds brings venture equity capital and venture expertise to Iowa entrepreneurs by investing in carefully selected venture capital funds. Each fund works in the state of Iowa with Iowa entrepreneurs and in so doing brings expertise, networks, capital, and good investing practices to local firms.

Today, the Iowa Fund of Funds has committed capital to venture funds in life sciences, medical services, information technology, media, and later stage manufacturing, distribution and services. In turn, these funds are investing in Iowa companies.

These investments are helping to create jobs for Iowans and to diversify the state's economic base.

The Iowa Fund of Funds reduces the inherent risks of venture capital by diversifying: investing over time in high quality venture funds with a variety of industry interests, investment stages, and geographical locations.