Step One: Are you a "venture capital firm"?
- A “venture capital” firm makes equity financings that are provided for starting up, expanding, or relocating a company, or for related purposes such as financing for seed capital, research and development, introduction of a product or process into the marketplace, or similar needs requiring risk capital. This includes, but is not limited to, financing classified as venture capital, mezzanine, buyout and/or growth.
If you answered YES to Step One, move on to Step Two below. If you answered NO, your firm is not eligible for an investment by ILGIF at this time.
Step Two: Does your venture capital firm invest in "technology businesses"?
A “technology business” means a company that has as its principal function the providing of services, including computer, information transfer, communication, distribution, processing, administrative, laboratory, experimental, developmental, technical, or testing services, manufacture of goods or materials, the processing of goods or materials by physical or chemical change, computer related activities, robotics, biological or pharmaceutical industrial activity, or technology oriented or emerging industrial activity.
If you answered YES to Step Two, move on to Step Three. If you answered NO to Step Two, your firm is not eligible for an investment by ILGIF at this time.
Step Three: Is your technology-focused venture capital firm an "Illinois venture capital firm"?
A. Does your technology-focused venture capital firm have a majority (50%+) of its employees in Illinois, or at least one managing partner domiciled in Illinois?
- If you answered YES to (A) above, you are an Illinois venture capital firm and are eligible for an investment by ILGIF.
- If you answered NO to (A) above, please refer to question (B) immediately below.
B. Has your venture capital firm invested in at least one "Illinois company" (i.e., a company that is headquartered in or has at least one physical office and one full-time employee in Illinois) in each of its prior funds (on average), or if your venture capital firm has only one prior fund, has it invested in at least two Illinois companies?
- If you answered YES to (B) above, you are an Illinois venture capital firm and are eligible for an investment by ILGIF.
- If you answered NO to (B) above, you are not eligible for an investment by ILGIF at this time.
For additional information, please see that the attached flowchart here.