RESOURCES
Job Postings
Description:
NGP is seeking a Senior Analyst, Investments to evaluate investment opportunities and support transaction execution and portfolio company initiatives. Working as part of small transaction teams, you'll take on meaningful ownership of financial modeling, due diligence, and investment materials — synthesizing complex information into clear insights that inform the firm's investment decisions.
This is an opportunity to develop as an investor alongside accomplished entrepreneurs, principals, and investors across a variety of industries, in a fast-moving, entrepreneurial environment.
What You'll Do
• Evaluate prospective investments through financial, commercial, and operational analysis; build acquisition and operating models and run valuation and return analyses.
• Own discrete due diligence workstreams and help prepare investment memoranda and deal materials.
• Support transaction structuring, negotiations, and closing activities.
• Support portfolio companies with budgeting, performance analysis, and add-on acquisition due diligence.
• Contribute to a collaborative, high-performing team.
What We're Looking For
• 2-4 years of experience in investment banking, private equity, transaction advisory, corporate development, management consulting, or a similar analytical role.
• Bachelor's degree in finance, accounting, economics, business, or a related field.
• Strong corporate finance, valuation, and M&A knowledge, with hands-on acquisition modeling experience.
• Direct experience supporting at least two transactions from evaluation through closing.
• Excellent written and verbal communication skills and strong Excel/PowerPoint proficiency.
• Chicago-based or willing to relocate; this is an in-office role.
Nice to Have
• Experience with lower-middle market transactions and/or proprietary deal sourcing.
• Exposure to founder-led businesses or portfolio company initiatives.
• Strong business judgment and intellectual curiosity.
Link to apply: https://grnh.se/xifh5s3n3us
Decasonic is the venture and digital assets fund building Web3 and AI innovation. We draw on our decades of experience as both tech investors and operators to help founders accelerate product market fit and scale growth in blockchain and AI.
Job Description
Implementing AI-native workflows across the investment team to enhance deal sourcing, research, due diligence, and execution
Designing and deploying internal LLM tools that improve investment decision-making and streamline firm-wide execution
Supporting development of our databases and knowledge repositories to capture and scale proprietary insights for AI workflows
Partnering with investment, data and operations teams to build real-time dashboards tracking token milestones, deal pipeline, and portfolio health
Deploying AI-enabled processes to automate portfolio reporting, OKR tracking, and internal communications
Monitoring emerging AI and blockchain infrastructure trends for use in investment research and founder advisory
Supporting Web3 x AI portfolio companies with GPT prompt libraries, agentic workflows, and AI-native product features
Collaborating with marketing to scale content production and digital presence through AI-assisted tooling
Click HERE to see full posting.
Please contact Rizza@decasonic.com
Sr. Accountant
We are seeking a detail-oriented and experienced Senior Accountant to join our small, entrepreneurial finance team. This individual contributor role is ideal for someone who thrives in a fast-paced venture environment, is highly skilled in Excel and GAAP, and can work independently with minimal supervision. The Senior Accountant will manage day-to-day accounting, prepare quarterly financials for internal funds, support corporate and fund reporting, and ensure accuracy and compliance across financial records, audits, valuations, and tax matters.
This role also offers significant growth potential, with the opportunity to expand responsibilities across fund management, investor reporting, and financial strategy as the firm continues to scale. Candidates who bring curiosity about leveraging AI tools in accounting and finance will be especially well positioned to grow with the team.
Click HERE to see full posting
Description Title
About HPA
HPA is a leading early stage investor. Our People First model leverages world-class operating expertise, a powerful business network, and venture capital to fuel startup success. As a result, our founders transform their businesses into industry leaders, our investors generate best in class returns, and our community experiences job creation and economic growth.
About the Role
HPA Venture Operations Manager
This role is central to effective communication and the smooth operation of HPA, spanning vital functions in investor-member, partner, and entrepreneur communication, data management, operations, and sourcing support. The ideal candidate will possess a sharp analytical mind, be fluent in technology (especially AI workflow automation), and have a proven ability to communicate effectively and manage complex, parallel tasks with precision. This role offers unparalleled exposure to the inner workings of a VC group and is perfect for a high-potential professional with 2-4 years of experience looking to accelerate their career in marketing, operations and venture capital.
Get full details HERE!
Description Title
Zebra Ventures is responsible for accelerating sustainable top and bottom-line growth for Zebra through investments in new technologies, new businesses and new talent. This team is a small, high-impact team that is responsible for making investments in high-tech start-ups that are relevant to our businesses. The Senior Investment Associate will work with the Zebra Ventures team across all aspects of deal sourcing, evaluation, and execution, including landscape research, thematic development, company prospecting, term sheet drafting, financial modeling, due diligence, negotiation, and preparation of investment committee materials. This role will interface with entrepreneurs, other investors, and Zebra stakeholders and leadership.
Get all the information HERE!
IVCA Newsletters
About Investing in Private Companies
Venture Capital
Venture capital fuels innovation by investing in early- and growth-stage companies with high potential. In Illinois, venture capital plays a critical role in supporting entrepreneurs as they develop new technologies, build businesses, and bring ideas to market.
Beyond capital, venture capital firms provide strategic guidance, industry expertise, and access to networks that help companies scale. These partnerships accelerate growth, attract additional investment, and strengthen the broader innovation ecosystem.
From fintech and healthcare to enterprise technology and consumer products, venture capital-backed companies are helping position Illinois as a leading hub for entrepreneurship and innovation.
Private Equity
Private equity firms invest in established companies to support growth, operational improvement, and ownership transitions. In Illinois, private equity plays a vital role in strengthening the state’s middle-market businesses and broader economy.
IVCA members partner closely with management teams to provide not only capital, but also strategic guidance, operational expertise, and access to valuable industry networks. These partnerships help companies expand into new markets, invest in new capabilities, pursue acquisitions, and improve overall performance.
Private equity is often used to facilitate leadership transitions, carve out business units, or position companies for long-term growth. These investments can provide stability during periods of change while unlocking new opportunities for innovation and expansion.
Across industries ranging from manufacturing and healthcare to business services, consumer, and technology, private equity-backed companies are driving job creation, strengthening competitiveness, and generating long-term economic value throughout Illinois.
Private Equity Impact in Illinois
Private equity is a major force in Illinois’ economy, and IVCA members are at the center of that impact.
Since 2000, IVCA member firms have backed more than 900 Illinois-headquartered companies, supporting over 370,000 jobs across the state. These companies have collectively raised more than $129 billion in capital, fueling business expansion, innovation, and long-term growth.
Illinois has become a leading hub for private investment, now ranking among the top states nationally for private equity activity. In 2022 alone, companies in Illinois received more than $66 billion in private equity investment across hundreds of businesses, demonstrating the scale and momentum of the industry.
Beyond capital, private equity drives meaningful economic impact. IVCA members support job creation, strengthen middle-market companies, and generate returns for institutional investors such as pension funds, universities, and foundations which help fund retirement, education, and research.
Together, IVCA members and their portfolio companies play a critical role in building a dynamic, competitive economy and positioning Illinois as a leading destination for investment and growth.
Research / White Papers
Lockton - Insurance
Following IVCA’s recent insurance webinars on April 4 and April 11, 2026, Lockton has shared an insurance market intelligence resource for IVCA members at:
BDO US LLP - Accounting, Tax, Advisory
BDO Private Equity Perspectives podcast- March 13, 2026
Lessons Learned, Exits Reimagined: PE's 2026 Playbook - Part B
BDO Private Equity Perspectives podcast- May 18, 2026
Beyond the Build: AI Infrastructure, Exit Readiness, and What's Next - Part B
Andersen - Tax advisory, valuation and financial consulting
In today’s deal environment, most private equity investors are well-versed in identifying financial, tax, and legal risks—but unclaimed property often remains a blind spot. Unclaimed property generally refers to intangible assets – such as unclaimed checks, customer credits, or unredeemed gift cards – that a company holds on behalf of others and is required by state law to report and remit after a defined period of inactivity. Because unclaimed property represents a significant and recurring source of state revenue – and is often governed by strict record-keeping and reporting rules – states have made enforcement a priority. As a result, unclaimed property routinely attracts aggressive audits and inquiries, and overlooked exposures tied to ordinary balance‑sheet items can emerge late in a transaction, materially affecting purchase price, indemnities, and post‑close obligations for both buyers and sellers.
This article highlights why unclaimed property poses frequent and often underestimated transaction risk. It summarizes the legal framework and enforcement environment driving state scrutiny, explains how unclaimed property liabilities arise and transfer in M&A transactions, and outlines practical diligence and mitigation strategies for buyers and sellers to manage exposure and avoid deal‑stage surprises.
Read the full article HERE!
Venture Capital Definitions
Early Stage Financing
Expansion/Growth Stage
Acquisition/Buyout
Seed Stage Financing
At this stage, a relatively small amount of capital is made available in order to support an investor or entrepreneur in proving a concept and qualifying for start-up capital. This may involve product development and market research as well as building a management team and developing a business plan if the initial steps are successful. Seed stage financing is pre-marketing stage.
Start-up Financing
This stage involves financing companies that are completing development, and may include initial marketing efforts. Companies may be in the process of organizing or may have been in business for one year or less, but have not sold their products commercially. Usually, such firms will have conducted market studies, assembled key management, developed a business plan, and prepared to begin conducting business.
Other Early Stage Financing
Other early stage financing includes an increase in valuation, total size, and per-share price for companies whose products are either in development or commercially unavailable. This stage involves the first round of financing following a company's start-up phase and involves an institutional venture capital fund. Seed and start-up financing tend to involve angel investors more than institutional investors. The networking capabilities of the venture capitalist are used more here than in advanced stages.
Expansion/Growth Stage Financing
This stage involves working capital for the initial expansion of a company that is producing, shipping, and has growing accounts receivable and inventories. It may or may not be showing a profit. Some of the uses of capital may include further plant expansion, marketing, working capital, or development of an improved product. More institutional investors are likely to be included along with investors from previous rounds. The venture capitalist's role in this stage evolves from a supportive role to a more strategic role.
Later Stage
Capital in this stage is provided for companies that have reached a fairly stable growth rate, that is, they are no longer growing as fast as the rates attained in the expansion stages. Again, these companies may or may not be profitable, but are more likely to be than in previous stages, and their financial characteristics include positive cash flow.
Bridge Financing
This stage applies to a company that plans to go public within six months to a year. Often, bridge financing is structured so that it can be repaid from the proceeds of a public underwriting. It can also involve restructuring of major stockholder positions through secondary transactions. Restructuring is undertaken if there are early investors who want to reduce or liquidate their positions, or if management has changed and the stockholdings of the former management, their relatives, and associates are bought out to relieve a potential oversupply when public.
Acquisition Financing
This stage provides funds to finance acquiring another company. Included in this category would be mezzanine financing using subordinated debt and bridge loans used to finance LBOs, acquisitions, and recapitalizations.
Management/Leveraged Buyout
These funds enable an operating management group to acquire a product line of a public or private company at any stage of development. Often, these companies are closely held and family owned. Management/leveraged buyouts usually involve revitalizing an operation, with entrepreneurial management acquiring a significant equity interest.
Turnaround
This stage involves financing provided to a company with the intention of improving performance at a time of operational or financial difficulty. This stage includes financing that involves restructuring equity.
Source: Thomson Venture Economics
Case Studies
The IVCA Private Equity Profiles is a continuing series of portraits of Illinois venture capital and private equity investments, spotlights companies that are emerging or proven successes. Each account furnishes information about the company and the private equity firm or firms that invested in it, illuminating the important role they play in nurturing the companies. To submit a case study for a Midwest company backed by an IVCA member firm download this form.