With October upon us the 2026 IVCA CFO Summit is two weeks away on October 22nd. The Summit is designed for finance and operations professionals working in Private Equity and Venture Capital, with an emphasis on expert-led sessions covering many topics including economic trends, tax developments, fund operations, valuations, fund formation, and emerging technologies. The Summit is open not only to CFOs, but also Chief Compliance and Operating Officers, Controllers, Finance/Accounting, Fund Operations Leaders and Investor Relations/Administration Professionals. With the economy spinning in different directions everyday, oriented in geo-politics, resource costs and other significant trends, what are the major issues for the CFO and other finance professionals? The online financial press and podcasts weigh in … FidelityPrivateShares.com , ‘The Startup CFO Landscape in 2026’ From March, some general information: “In 2025, CFOs did not chase growth. They protected it. Capital remained cautious. AI moved faster than most organizations could operationalize it. Hiring slowed, but expectations of finance leadership expanded. CFOs were asked to steady the business, modernize systems, manage risk, and support long-term strategy, often simultaneously.” READ MORE: https://www.fidelityprivateshares.com/blog/the-startup-cfo-landscape-in-2026 PrivateFundsCFO.com , ‘About Private Funds CFO’ Website resource dedicated wholly to the PE CFO: “Private Funds CFO is a dedicated intelligence service for CFOs and professional responsible for financial, operational and legal functions within Private Equity.” READ MORE: https://www.privatefundscfo.com/about-private-funds-cfo/ Evanta.com , ‘Top 3 Priorities for CFOs in 2026’ In 2026, Chief Financial Officers (CFOs) are navigating a rapidly evolving business landscape shaped by digital transformation, economic uncertainty, and the accelerating adoption of AI and automation. READ MORE: https://www.evanta.com/resources/cfo/survey-report/top-3-priorities-for-cfos-in-2026 ModusAlliance.com , ‘CFO Priorities 2026: The Finance Leader as Orchestrator’ The top CFO priorities for 2026 are digital transformation of the finance function, AI integration, workforce restructuring, and managing a complex tax and regulatory environment. Finance leaders are simultaneously deploying AI agents to automate close cycles, absorbing the One Big Beautiful Bill Act’s sweeping tax changes, monitoring Pillar Two obligations for any cross-border operations, and rebuilding talent pipelines that have been thinning for years. READ MORE: https://modusalliance.com/insights/cfo-priorities-2026/ HighRadius.com PODCAST , ‘CFO Circle Podcast’ This video-podcast series brings you conversations with mid-market CXO leaders to identify and solve challenges at CFO office with automation and emerging tech. LISTEN MORE: https://www.highradius.com/resources/cfo-circle/video-podcast/ The Growth Minded CFO PODCAST , ‘CFO as Growth Architect & Strategic Partner’ The Podcast for finance leaders who want to growth leaders. The Growth-Minded CFO podcast challenges the status-quo and explores how the best CFOs approach their work and lives. LISTEN HERE: https://www.youtube.com/@TheGrowthMindedCFO The 2026 IVCA CFO Summit is now open for registration and is FREE to all IVCA members, and will take place on October 22nd, 2026. Click on CFO for more information and instructions to register.

In the 2026 legislative session the state tax relief for investments of Qualified Small Business Stock were eliminated. The term of art is that the state “decoupled” from federal law, meaning that while the relief is available at the federal law, it is no longer available on Illinois tax returns beginning in 2026. Plante Moran Analysis of Illinois QSBS Taft QSBS 1202 Analysis The IVCA has assiduously reached out to policy makers in Illinois to advise them that QSBS can be a powerful accelerant for very early-stage projects and research shows it has more potential to create the next “unicorn” than other investment approaches. IVCA QSBS VALUE IVCA members have participated in numerous meetings in person, online, and by telephone. Policy makers have been appreciative of the economic activity created by the VC community but generally consider a rollback of the decoupling a steep hill to climb. The state is persistently looking for revenue to meet its budget projections and there are voices in the Capitol who believe the QSBS is only the first step in a broader effort to further tax wealth and economic success. The other message we are conveying to policy makers is that the trend of highlighting private investors for punitive or restrictive policy measures will undoubtedly have a negative overall impact on the investing climate in Illinois. States with lower tax rates, more hospitable investment rules and regulations, states without the kinds of bans, prohibitions, limitations or disclosure requirements which are sought by policy makers in Illinois, all of these factors could contribute to and out migration of capital and a far less enthusiastic valuation of an Illinois investment than what we enjoy currently. We will keep you posted. The Illinois General Assembly returns for a Veto Session before and after the Thanksgiving holiday, then for a “lame duck” session in early January 2027. From there, the regular session of the 105 th Illinois General Assembly will convene in mid-January, and we will watch for what we anticipate being a very active introduction of legislation which is relevant to our interests.

The scholarship application for Cohort 24 (Feb. 2027) of VC University will be open Wed., Oct. 7 through Wed., Oct. 14. Quick refresher : Led by Venture Forward, this scholarship program provides emerging VCs from nontraditional backgrounds with full tuition to the industry-leading, online certificate program on VC fundamentals plus access to a mentorship program. VC University is co-led by NVCA, Berkeley Law Executive Education, Stanford Law Executive Education, and Venture Forward. Details and resources for easy sharing, below: About the scholarship: Who's it for : Aspiring and early-career U.S.-based VC investors from nontraditional backgrounds seeking a structured intro or refresher on VC fundamentals (Full applicant criteria, here ) Cohort 24 : Starts Feb. 1, 2027 Application deadline : Oct. 14 Learn more and apply

Association News IVCA Feature: New Member Profile of Twin Bridge Capital Partners The CFO's Role Has Never Been More Complex. Join Us October 22. Sponsorship Opportunities Now Available for the 2026 IVCA Annual Awards Dinner Legislative News IVCA Provides Updates for State Legislative Issues 09/16/2026 - IVCA WORKS TO REVERSE QSBS DECOUPLING IN REVENUE BILL IVCA Events October 22, 2026 - IVCA CFO Summit December 7, 2026 - IVCA Awards Dinner - SAVE THE DATE! Other Events of Interest September 8, 2026 - McDermott Will & Schulte Chicago Boot Camp for Private Equity Professionals October 28 - 18th Annual Invest For Kids Conference November 12 - Midwest BioBuilders Summit December 8, 2026 - BDO’s Annual Private Equity Fund CFO Roundtable Industry News Avathon Capital Welcomes My Hot Lunchbox to its Portfolio as 17th Platform Investment Benford Capital Port Co Filtration Solutions Group Acquires Filter Services of Indiana and FSI Filtration, Extending Its Filtration Platform into the Midwest H.I.G. Capital Makes a Significant Investment in Click Here Digital High Street Capital Invests in All About Concrete Monroe Capital Supports Dealer Services Network’s Acquisition of GG&D Motor Vehicle Services Periscope Equity Announces Promotion of Eric Hinkle to Partner Prospect Partners Promotes Ryan Chapman and Welcomes Robert Janei and Lindsey Sabutis to the Team Thoma Bravo Announces Strategic Growth Investment in Tanda Thoma Bravo Port Co Everbridge Acquires Open Measures Crain’s Chicago Business includes Victory Park Capital on 2026 Best Places to Work in Chicago List Stephanie Rupinski, Victory Park Capital Principal in Operations, named to P&I Rising Stars List Wynnchurch Capital Port Co Trimlite Expands Residential Door Distribution Platform with Acquisition of KW Building Products Professional Advisor News Katten Advises Keypath Education on the Sale of Its North American Operations to Risepoint Ropes & Gray Advised New Mountain Capital on Exit from Lincoln Investments BDO PRIVATE EQUITY PERSPECTIVES PODCAST EPISODE 57B: Beginning With the End in Mind: Exits and Buyer Competition in the Industrial Sector – Part A Ropes & Gray Advised Attindas Hygiene Partners, an American Industrial Partners Portfolio Company, on its Planned Acquisition of Activ Médical Disposable Symrise Sells AmeriTerpenes to Mutares SE & Co. KGaA With Guidance From Troutman Pepper Locke Ropes & Gray Advised New 2ND Capital in its Partnership with Blackford Capital Keeping Up the Pace Ropes & Gray Advised TSG Consumer Partners in Strategic Investment in Los Tacos No. 1 Ropes & Gray Advised Bain Capital in Strategic Growth Investment in RQD* Clearing Ropes & Gray Advised Hudson Hill Capital on Single-Asset Continuation Vehicle for InXpress Ropes & Gray Advised Bain Capital Portfolio Company Envestnet in Acquisition of Vestmark Ropes & Gray Advised Audax Private Equity Portfolio Company Flow Control Holdings in Majority Stake Sale to Blackstone Ropes & Gray Advises Platinum Equity on Agreement to Sell De Wave Group Ropes & Gray Advises Appleby on Investment from New Mountain Capital to Accelerate Growth in Legal and Fiduciary Services Ropes & Gray Advised Brown Brothers Harriman in the Sale of its Portfolio Company The Granite Group Ropes & Gray Advises AccentCare on Agreement to Sell Personal Care Division to Addus HomeCare Corporation Job Postings Please view the full details for each Job Posting listed below, on our website HERE . Once at Job Postings please scroll down the pages to view the jobs. They are listed chronologically as received, most current first. NEW! NextGen Growth Partners - Senior Analyst, Investments Hyde Park Angels - HPA Venture Operations Manager Decasonic – AI Operations Manager TechNexus Venture Collaborative – Sr. Accountant

Throughout 2026, new member participants in the Illinois Venture Capital Association (IVCA) will keep it expanding. These new members also will give the current membership new opportunities for networking … in addition to optimizing support and partnerships … which leads to guidance and new ideas for Venture Capital, Private Equity and the support industries. The latest new member is Twin Bridge Capital Partners, “an established Private Equity investment firm, majority owned by its employees, investing through buyout funds, direct equity co-investments, and GP-led secondary investments, partnering with talented sponsors and management teams building sustainable, growing businesses.” The following is a Q&A profile with Twin Bridge Capital Partners , which explores the firm’s background and their expectations for interacting with the IVCA. New Member: Twin Bridge Capital Partners Representative: Zach Schneider, Partner IVCA: What is a brief history of and background of Twin Bridge Capital Partners ? Twin Bridge Capital Partners: Founded in Chicago in 2005 with the backing of a Fortune 500 insurance company, Twin Bridge Capital Partners was established to invest across the North American buyout market. The Firm initially focused on primary fund investments and equity co-investments alongside leading North American buyout managers. Over the past two decades, Twin Bridge has expanded its capital base, product offering, team and investment capabilities. Today, the Firm has more than 20 employees, has raised more than $5.4 billion of capital, and offers three distinct investment products focused on North American buyouts. IVCA: Why did the firm decide to join the Illinois Venture Capital Association? Twin Bridge: Twin Bridge is focused on continuing to build its brand, network, knowledge base and reach as we grow the business, and we believe the IVCA provides an attractive platform to advance these objectives. We also seek to be active participants in the communities in which we operate and believe we can both contribute to and benefit from the IVCA and its member firms. More broadly, we look forward to leveraging the IVCA’s reach to help support the continued growth and development of Illinois’ Private Equity and Venture Capital community. IVCA: Your firm's focus in on North American small and lower middle market businesses. What is the current status of those types of American enterprise, and how do you research the marketplace? Twin Bridge: The North American small and lower middle market buyout landscape remains as dynamic as ever, with more capital and opportunity than at any point in our firm’s history. As a result, competition for attractive investment opportunities, strong returns and talented professionals has also never been greater. In this environment, our investment team remains highly focused on research and relationship development, supported by our proprietary in-house analytics and relationship intelligence platform, TBHub. Our team spends significant time meeting with managers, intermediaries and other institutional investors to stay current on market trends, developments and emerging opportunities. We combine these market insights with our proprietary data and relationship intelligence to identify and underwrite opportunities that we believe can generate attractive long-term investment outcomes. IVCA: The firm lists six guiding principles ... Partnership Approach, People First, Focused Strategy, Unwavering Alignment, Long-Term Focus and Commitment to Integrity. How did the firm evolve to these important six, and what do you feel is the one principle that shapes and guides the rest of them, and why? Twin Bridge: These six principles reflect who Twin Bridge has evolved to be and the qualities we value most in our partnerships. They guide our daily activities and underpin the decisions we make across the Firm. If we had to identify one overarching principle, it would be Trust. Without trust, we believe the other principles cannot fully take hold. Trust is embedded in each of our six guiding principles and is fundamental to how we seek to build lasting partnerships with all of our stakeholders – including our employees, investors, sponsor partners, portfolio companies and their management teams, and intermediaries. At its core, ours will always be a relationship business. We believe enduring relationships are built on trust, and that trust is earned over time through consistency, integrity and alignment. IVCA: The firm's experience is touted in identifying select sponsors who align with long-term investment philosophy. What is your vetting process for that identification and what is an example of an instinct based on experience that yielded a long-term sponsor alignment? Twin Bridge: We combine robust data and analytics — the ‘science’ — with deep relationship building – the ‘art’ – throughout our sourcing and underwriting process. This approach often leads us to identify ‘diamonds in the rough’ where others may not yet see the opportunity. Over more than two decades and 150+ fund investments, we have developed relationships with many sponsors based on information that others may have found less compelling, but where our experience and analysis led us to believe the future could look meaningfully different from the past. While we certainly do not get every investment right, some of our longest-standing sponsor relationships originated from precisely these situations. We believe our experience helps us recognize those opportunities, and we remain focused on finding the next one. IVCA: The firm's portfolio lists a wide variety of business concerns. Whether it's a fitness company or a biosciences practice, what commonality is the firm seeking to create the synergy of an offer to invest? Twin Bridge: While our portfolio companies operate across a broad range of industries, we are ultimately seeking the same fundamental characteristics … high-quality businesses, strong and capable management teams, attractive market positions and opportunities for sustainable long-term growth. We believe our value is less dependent on investing in a particular industry and more dependent on identifying strong businesses and high-quality sponsor partners where our experience, relationships and investment approach can add value. That sector flexibility, combined with a disciplined focus on the small and lower middle market, allows us to pursue opportunities across a diverse range of industries while maintaining a consistent investment philosophy. IVCA: What does Twin Bridge Capital Partners hope to achieve in their interaction with the VC/PE community within the IVCA? Twin Bridge: Twin Bridge looks forward to engaging with the IVCA community to share best practices, build relationships and exchange ideas and knowledge with other investors and market participants. We also see the IVCA as an opportunity to broaden Twin Bridge’s relationships and visibility across a wide range of participants in the Private Equity and Venture Capital ecosystem. Ultimately, we hope to be both an active participant and contributor to the community – learning from our peers while sharing our own perspectives and experiences to help strengthen Illinois’ broader Private Equity and Venture Capital ecosystem. For the website of Twin Bridge Capital Partners click here . The 2026 IVCA CFO Summit is now open for registration and is FREE to all IVCA members, and will take place on October 22nd, 2026. Click on CFO for more information and instructions to register.

ILLINOIS VENTURE CAPITAL ASSOCIATION ILLINOIS LEGISLATIVE REPORT David Stricklin / Stricklin & Associates Wednesday, September 16, 2026 IVCA WORKS TO REVERSE QSBS DECOUPLING IN REVENUE BILL At the end of every legislative session in Illinois a series of omnibus bills are produced to implement the budget and provide the revenue to close the gaps for spending policy makers want to have in the upcoming fiscal year. In the 2026 legislative session the “revenue omnibus” SB 3019 / PA 104 – 0468 included direction for Illinois to “decouple” from the federal tax code on treatment of Qualified Small Business Stock (QSBS). PLANTE MORAN ANALYSIS OF ILLINOIS QSBS TREATMENT The provision was sought by advocates who argue that Illinois should do more to tax wealth and provide more revenue to the state: ILLINOIS REVENUE ALLIANCE "PROGRESSIVE" TAX AGENDA It is difficult to reverse a decision such as the one made here. Getting to a final revenue package is balancing act which included over 20 different provisions including changes to sports wagering, taxes on advertising and digital assets. It included the decoupling from the federal code on QSBS 1202, while also extending the Angel Tax Credit through 2032. ILLINOIS TAXPAYERS’ FEDERATION OMNIBUS ANALYSIS While working to reverse the decisions made on QSBS, the IVCA is also alerting policy makers that the cumulative effect of misguided policy will harm the Illinois economy and make Illinois less attractive for investment. There is clearly momentum in some camps to tax wealth and change policies which have helped entrepreneurs create companies which provide employment and tax revenue where they are located. The IVCA will continue to encourage policy makers not to lose focus on the value of a thriving VC ecosystem which contributes significantly to the quality of life in Illinois.

Association News IVCA Feature: New Member Profile of FM Capital Nominations Are Now Open for the 2026 IVCA Awards CFO Summit Sponsorship Opportunity for your firm! VC and PE Investor Finance Professionals! Join us on October 22 for 2026 IVCA CFO Summit! IVCA Scholars Complete Another Successful Summer Program Legislative News IVCA Provides Updates for State Legislative Issues 08/19/2026 IVCA Events October 22, 2026 - IVCA CFO Summit December 7, 2026 - IVCA Awards Dinner - SAVE THE DATE! Other Events of Interest September 17, 2026 - McDermott's Chicago Private Equity Bootcamp - SAVE THE DATE! Industry News The Edgewater Funds Announces Investment in Parker Manufacturing Group Monroe Capital Supports Air Transport Components’ Acquisition of Aero Controls, Inc. Wind Point Partners To Acquire ECI McNally Capital Makes Majority Investment in TENICA, a Leading Provider of National Security and Intelligence Solutions H.I.G. Capital Completes Acquisition of Phoenix ME Thoma Bravo Completes Acquisition of Kneat HPA Backs AI-Native Production Intelligence Platform Revolutionizing Continuous-Flow Manufacturing Monroe Capital Supports Summit Professional Education’s Acquisition of Kids Bowel & Bladder Accelerant Enters into Definitive Agreement to be Acquired by Thoma Bravo Shore Capital Partners Announces Sale of Texas MedClinic to HCA Healthcare Command Alkon Announces Acquisition by Francisco Partners from Thoma Bravo Runway Growth Capital Appoints Michael Rovner as Co-Chief Executive Officer and Co-Chief Investment Officer Wynnchurch-Backed Trimlite Acquires Barnett Millworks Private Credit: Asset-Backed Finance Explained | Victory Park Capital Wynnchurch Capital Port Co M2S Group Surpasses $1 Billion in Annual Revenue with Acquisition of Heartland Label Printers Frontenac Port Co Motion & Control Enterprises Acquires Salentine Pump & Equipment Professional Advisor News Ropes & Gray Advised McNally Capital in Majority Investment in TENICA Global Solutions Sidley Represents Castle Creek Capital in Tri-County Financial Group’s US$204.6 Million Merger with HBT Financial Carried Away Series — Management Fees and Self-Employment Taxes – Structuring for Tax Efficiency After Sirius Solutions and Soroban Ropes & Gray Represented Ripple Fiber in Acquisition by Eaton Fiber Sidley Represents Goldman Sachs Alternatives in Acquisition of Tosca From Apax Funds BDO PRIVATE EQUITY PERSPECTIVES PODCAST EPISODE 57B: No Shortcuts: The Case for Patient Sourcing and Earned Partnerships– PART B Ropes & Gray Advised New Mountain Capital in Acquisition of Jensen Hughes Sidley Represents MarineMax in Its US$1.5 Billion Sale to Blackstone Infrastructure Portfolio Company, Safe Harbor Fifth Circuit Narrows, but Preserves, Taxpayer-Favorable Ruling on Limited Partner Exception to Self-Employment Tax on Rehearing Three Ropes & Gray Partners Named Notable Leaders in Accounting, Consulting & Law by Crain’s New York Business Sidley Represents Northcote Equity in Investment in Lockhart Capital Management Ropes & Gray Advised NEOS Investments in Sale to Goldman Sachs Sidley Represents Acteon in the Sale of Menck to Cadeler Ropes & Gray Advised Altamont Capital Partners in Accelerant Take-Private Acquisition by Thoma Bravo Sidley Represents Sapiom in US$35 Million Series A Financing Job Postings Please view the full details for each Job Posting listed below, on our website HERE . Once at Job Postings please scroll down the pages to view the jobs. They are listed chronologically as received, most current first. NEW! NextGen Growth Partners - Senior Analyst, Investments Hyde Park Angels - HPA Venture Operations Manager Decasonic – AI Operations Manager TechNexus Venture Collaborative – Sr. Accountant

From evolving tax regulations and valuation challenges to data management, investor reporting, and artificial intelligence, today's finance leaders sit at the center of private capital firm strategy. Join us on October 22, 2026, for the IVCA CFO Summit, a full day of practical insights, industry updates, and peer networking designed specifically for finance leaders in private equity and venture capital. Last year's program featured discussions on economic trends, Washington policy developments, fund formation, diligence, valuation transformation, operational scaling, and AI-driven finance transformation. Whether you're a CFO, controller, operations leader, or finance executive, the Summit offers valuable perspectives and meaningful connections with professionals across Illinois' private capital ecosystem. Learn more, register, or explore sponsorship opportunities at https://www.illinoisvc.org/cfo-summit

The IVCA Annual Awards Dinner returns to the Four Seasons Chicago on December 7, 2026, bringing together Illinois' leading private equity and venture capital professionals for an evening of recognition, networking, and celebration. As IVCA's flagship event, the Awards Dinner attracts more than 300 senior-level attendees, including investment professionals, portfolio company executives, institutional investors, and industry advisors. The evening recognizes outstanding firms, portfolio companies, and leaders who have made a significant impact on Illinois' investment ecosystem. Congratulations again to our 2025 award recipients: Venture Capital Portfolio Company of the Year: Simple Mills Private Equity Portfolio Company of the Year: Door and Window Guard Systems (DAWGS) Richard J. Daley Award: Bruce N. Barron, Origin Ventures Stanley C. Golder Award: Robert P. Morgan, 50 South Capital Rising Star Award: M25 IVCA Foundation Award: Shoshana M. Vernick Sponsorship opportunities are now available and provide exceptional visibility before, during, and after the event. View Sponsorship Opportunities HERE . For questions or to reserve a sponsorship level, please contact Christie Pruyn at cpruyn@illinoisvc.org .