Illinois Growth and Innovation Fund

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Illinois Growth and Innovation Fund logo


Treasurer Frerichs recently announced the second round of Technology Development Account funding, the Illinois Growth and Innovation Fund (ILGIF).  Starting in 2016 and continuing over the following three years, ILGIF will invest $222 million from the State’s Investment Portfolio in venture capital firms with a track record of investing in Illinois technology companies.


Like the first technology fund, the goal of ILGIF is two-fold:  earn investment returns for the state and support technology and related jobs here in Illinois.  The investment is expected to create approximately 18,800 jobs in Illinois (8,500 direct and 10,300 indirect) and attract more than $400 million in additional private-sector money, which will further spur interest in the Midwest tech scene that Illinois anchors.

Economic impact of ILGIF program


ILGIF aims to invest $222 million in technology businesses over the course of six years.  The target is commit $74 million each of the first three years, with remaining uncommitted capital and earning distributions committed in the fourth, fifth and sixth years of the program.



The $222 million investment is expected to attract an additional $400 million in private sector investments for participating technology businesses.

Graph showing increased return under ILGIF program

Supporting Diversity

ILGIF gives clear direction to ensure that qualified fund managers and technology businesses owned by minorities, women, military veterans, or individuals with disabilities are recommended for receipt of ILGIF assets.


Program Administrator

All ILGIF investments will be managed by 50 South Capital Advisors, which is the program’s administrator. 


Investment Policy

Click here to access the ILGIF Investment Policy Statement. 


Informational Materials

          •  Flyer


ILGIF Meeting Materials

ILGIF Advisory Council – 2017 Meeting Schedule

September 19, 2017 – Meeting Agenda

June 6, 2017 – Meeting Agenda

March 7, 2017 – Meeting Agenda and Meeting Minutes

January 26, 2017 – Meeting Agenda and Meeting Minutes

December 6, 2016 – Meeting Agenda and Meeting Minutes

September 19, 2016 – Meeting Agenda and Meeting Minutes

June 20, 2016 – Meeting Agenda and Meeting Minutes

May 9, 2016 – Meeting Agenda  and Meeting Minutes

March 11, 2016 – Meeting Agenda


For More Information

By visiting, budding Illinois entrepreneurs can connect to technology funds by submitting their pitch books and investment proposals for review and evaluation.  All submissions will be managed by 50 South Capital.  Entrepreneurs will also find a number of helpful links on this website designed to expand their resource network.