Photo: Iowa Tourism Office
Iowa Capital Investment Corporation (ICIC) -

Dennis Murdock, ICIC - 515-229-4548
Chip Cooper, Cimarron Capital Partners - 319-621-2066
Matt Warta, Village Ventures -

Iowa Fund of Funds Invests $5M in Village Ventures II

Early stage venture capital fund to seek deals at Iowa tech centers

October 4, 2007 | Des Moines, IA
— The Iowa Capital Investment Corporation (ICIC) announced today that the Iowa Fund of Funds has committed $5M to early stage venture capital fund Village Ventures Fund II (VVII). The fund has commitments of $104 million.

“Iowa’s strong university research base deserves a robust network of early stage investors to support new technologies,” said ICIC chairman Dennis Murdock “Today’s commitment is an important step to add expertise and investment capital to Iowa’s entrepreneurial economy.”

Village Ventures II is the second fund managed by Village Ventures, a Massachusetts-based venture capital firm with sector expertise including financial services, consumer internet and new media, healthcare IT and services and medical technology.

“The new commitment furthers ICIC’s partnerships with top venture funds to encourage investment in promising Iowa entrepreneurs and to grow our state economy,” Murdock noted.

“Village Ventures is one of a select group of venture funds that actively seeks good opportunities in underserved venture markets,” said Stephen Ringlee, Managing Director of Cimarron Capital, which manages the Iowa Fund of Funds. “We’re pleased they are coming to Iowa.”

Village Ventures will represent VVII at the October 10th Iowa Venture Capital and Entrepreneur Conference in Des Moines.

About the Iowa Fund of Funds

The Iowa Fund of Funds is a $100 million program organized by the Iowa Capital Investment Corporation (ICIC) and professionally managed by Cimarron Capital Partners LLC. The Iowa Fund of Funds is designed to help build a professional venture capital industry to serve Iowa entrepreneurs.

About Iowa Capital Investment Corporation (ICIC)

ICIC is the private non-profit organization authorized by Iowa statute to serve as General Partner of the Fund of Funds and provide oversight and guidance to the Fund Manager.

About Cimarron Capital Partners LLC

Cimarron is a leading national investment management firm specializing in regional private equity. The firm serves as Fund Manager of the Iowa Fund of Funds.