About the fund
Established by Illinois Treasurer Michael W. Frerichs, the Illinois Growth and Innovation Fund (ILGIF) is an evergreen, $1.5 billion impact investment fund that invests in ways to attract, assist and retain quality technology-enabled businesses in Illinois. We do this by making targeted investments with venture capital (VC), growth equity, and private credit firms with a nexus to the State of Illinois.
ILGIF shall seek to identify and invest in fund managers and co-invest in Illinois-domiciled companies that are (i) more than 50% owned and/or led by minorities, women, military veterans, or disabled persons, and/or (ii) geographically located in diverse communities or low-to-moderate income (LMI) communities.
ILGIF has invested in a wide range of private equity and venture capital managers, including GreatPoint Ventures, 5C Partners, Madison Dearborn Partners, Hyde Park Venture Partners, Chicago Ventures, Moderne Ventures, Bullpen Capital, PPC Enterprises, Wind Point Partners, New Enterprise Associates (NEA), 1818 Venture Capital, Method Capital, Listen Capital, Patriot Capital, Thoma Bravo, Brightwood Capital, Vistria Group, Math Venture Partners, Tensility Venture Partners, Techstars, The Impact Engine, Firstleaf Capital, Baird Capital, BPOC Ventures, Chingona Ventures, Palladium Equity Partners, Reverence Capital Partners, Valor Equity Partners, VamosVentures, Vista Equity Partners, 5th Century Partners, Avance Investment Management, Costanoa Ventures, SNØCAP (Snak) Ventures, Angeles Investors/Angeles VC, Buoyant Ventures, Supply Change Capital, 81 Collection, LongArc Ventures, Exposition Ventures, Kinzie Capital Partners, Permanent Capital Partners, OCA Ventures, Starting Line VC, Lightbank, 7wireVentures, and Energize Ventures.
