IVCA Begins 2008 IVCA-PAC Fundraising Effort

IVCA Begins 2008 IVCA-PAC Fundraising Effort

July 2, 2008

CHICAGO - “ The 2008 IVCA-PAC fundraising effort has begun. Your support helps to make the IVCA more effective in representing our interests with elected officials. The Illinois Venture Capital Association is the only trade association that speaks to elected state officials and taxing and regulatory bodies on behalf of the private equity and venture capital community in Illinois.

The IVCA's affiliated political action committee (IVCA-PAC) supports these advocacy efforts and provides an opportunity to educate officials about the importance of our industry to the state's economy and to articulate our positions on key issues affecting our business. Our voice has been clearly heard and has affected change on:

  • The Sudan Act
  • The personal property replacement tax
  • The Freedom of Information Act for portfolio company data
  • Pension ethics reform
  • The treasurer's technology fund

    In 2007, the IVCA-PAC contributed $53,500 to legislators in support of the objectives of our organization. While this is an impressive amount given the relatively young age of the IVCA-PAC, additional resources are necessary to fully promote the mission of the IVCA. Without robust IVCA-PAC support, the IVCA is limited in achieving its legislative objectives.

    The PAC allows the IVCA to better establish working relationships with legislators by attending their fundraising events and by showing its support of their election and reelection efforts. These working relationships in turn help keep the IVCA's objectives and concerns on the radar screens of our key legislators. In 2007, only 23 private equity and venture capital firms contributed to the IVCA-PAC.

    In 2008, we are hoping that all of our 70 investor members will support our ability to educate legislators. Membership dues can't be used to fund the PAC. As a $100 billion-dollar Illinois industry, we deserve and need to have our concerns about a healthy business climate in the state heard by the legislators and regulators who are making the decisions that affect our business.

    The 2008 PAC fundraising effort will run through the summer.

    Letters have already been sent to each investor member firm. Please review the letter and support our efforts to make Illinois a better place for venture capital and private equity investing. IVCA members can contribute an unlimited amount to the IVCA-PAC without restrictions as individuals, partnerships, corporations or LLCs. Contributions to any PAC are a matter of public record.

    For additional information on IVCA-PAC, please see the IVCA Web site.