It has arrived! The Illinois Innovation Accelerator (i2A) Fund, a $10 million seed-stage investment fund with an initial closing of $6.4 million in capital commitments. The i2A Fund is a member managed fund that will be administered by the Chicagoland Entrepreneurial Center. The fund will make investments in well managed seed-stage companies in Illinois or willing to relocate to Illinois that have a demonstrated value proposition in a given market for their products or services. The fund will make investments ranging from $250,000 to $1 million in each company.
I’m hoping it’s the first of many! There are many fine upstart companies here in Chicago starving for capital. I know David Weinstein and his crew worked hard on this and I’m hoping it’s a great success.