Impact on Iowa
Celebrating Iowa's Entrepreneurs
ICIC empowers promising Iowa entrepreneurs, local investors and the commercialization efforts of universities and federal labs by stimulating the growth of the professional seed and venture capital industry that serves the state.
ICIC's vision — to help build a thriving Iowa entrepreneurial ecosystem in which an evergreen, self-sustaining Iowa Fund of Funds and its partner venture funds play an important role — will take many years to complete. Yet the Iowa Fund of Funds is growing and already making an impact on Iowa's economy.
Recent investments by ICIC portfolio venture funds have catalyzed over $24 million for Iowa companies, more than twice the amount drawn by portfolio funds. These companies include:
Of particular note is the leverage effect of Iowa Fund of Funds investing: $28 million in commitments has attracted six venture funds with over $570 million in venture investing capacity.
Recent Program Highlights:
- With Iowa Development Corp, ICIC secured $95 million for Iowa from the Federal New Market Tax Credit Program. The 2008 round includes a special focus on rural businesses.
- ICIC hosted a number of venture funds at the Iowa Venture Capital and Entrepreneur Conference, including Village Ventures, Open Prairie Ventures, Petra Capital, Prolog Ventures, OCA Ventures, Petra Growth Fund, and LFE Capital.
- ICIC recruited venture investors to the ISU Private Equity Fund Manager's Meeting
- ICIC recruited venture investors to the Clean Tech Event hosted by Dorsey & Whitney
- ICIC participated on the Iowa Business Council Capital Formation Hot Team and helped develop the latest version of www.IowaEntrepreneur.Com, an educational site for Iowa entrepreneurs and investors.