Illinois Senate Bill 107 will authorize the Illinois State Treasurer to invest an additional 1 percent of the state’s portfolio into venture capital funds, bringing the total authorized to 2 percent. The funds will then invest the additional money into Illinois based technology companies. The original bill asked to increase the limit to 3 percent total, but was reduced to 2 percent overall during the bill’s first reading.
“It is actually legislation that we’ve been trying to get passed for the past three years and we’re thrilled that Treasurer Dan Rutherford has come out so strongly in support of it” said Maura O’Hara, Executive Director of the Illinois Venture Capital Association, which represents about 120 venture capital and private equity firms.
To read the full, original article click on this link: Illinois state Treasurer to double Venture Capital technology investments | WiredVC | Venture Capital and Funding News
Author: Julien Weston, Editor, WIREDvc
