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Phil Alphonse, Chairman, IVCA
Celebrating 25 Years of Impact and Leadership 
IVCA has spent 25 years advancing Illinois’ private capital ecosystem. 
From our founding in 2000 with 30 firms to today’s thriving 
community of 127 firms, IVCA has grown into a trusted voice for 
advocacy and innovation. We are proud that 23 firms have been with 
us since inception and honor the vision of our founding board 
members: Carl Thoma, J.B. Pritzker, Jim Fox, Jim Downing, and Jay 
Hawkins.
Since 2000, our members have backed more than 900 Illinois-
headquartered companies, creating over 370,000 jobs and fueling 
innovation across sectors. These companies have collectively raised 
$129 billion in capital, underscoring IVCA’s role as a cornerstone of 
Illinois’ private equity and venture capital ecosystem.
Our advocacy has delivered wins that matter. From championing the 
Illinois Growth & Innovation Fund (ILGIF) to clarifying tax treatment for 
investment partnerships, these efforts helped Illinois rise to 5th 
nationally for private equity investment, up from 8th in 2011.
Looking ahead, our strategic plan positions IVCA to:
	
• Strengthen advocacy efforts and amplify Illinois’ story.
	
• Deepen member value through collaboration and learning.
	
• Expand connections with institutional and family investors.
	
• Grow the IVCA Scholar Program to shape the next generation of 	
	
   leaders.
The next 25 years hold extraordinary promise. Thank you for being part 
of this journey and for joining us in building the next chapter of IVCA. 
The best is yet to come.
Message from the Chairman

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