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Illinois' $700M VC fund wants to keep startups from fleeing to the coasts

Oct 04, 2018 - Chicago Business Journal

To help provide Illinois startups with the funding they need to transform into viable tech businesses, the state is now beefing up a multi-million-dollar investment fund.

Illinois State Treasurer Michael Frerichs announced that starting in 2019, $700 million will be available in the Illinois Growth Innovation Fund, a more than $400 million increase to what it was before.

The law (Senate Bill 3205), signed in August, calls for Frerichs to allocate up to 5 percent of the state's inves...