Illinois Ventures – the University of Illinois System’s venture capital arm – announced the launch of its fourth fund dedicated to supporting deep tech ventures with Illinois in their DNA.

CHAMPAIGN, ILL –  Illinois Ventures announces the launch of its fourth venture capital fund, the Illinois Deep Technology Strategic Venture Fund, L.P. (the “Fund”). The Fund will target early-stage companies that have founders or leadership who are part of the University of Illinois System – faculty, alumni, or students from any of the system’s three universities, as well as companies that license university technology. Seed and Series A companies will be able to leverage the system’s expertise in the fields of artificial intelligence and information technology; agricultural technology; health, life sciences, and biotechnology; engineering and quantum; and clean tech.

“Innovation and entrepreneurship are part of the DNA of the University of Illinois System. The new Deep Tech Strategic Venture Fund will give young companies led by our outstanding graduates the tools to innovate and grow, and in turn create jobs and opportunities for the people of our state,” U of I System President Tim Killeen said. “The creation of this exciting new fund highlights our belief in the power of transformation through innovation.”

Ranked among the top 10 public and private universities for startup founders by PitchBook, the University of Illinois Urbana-Champaign continues to lead in innovation. Illinois Ventures is proud to be the venture partner fueling the system’s founders as they build venture backable businesses.  

“We are focused on empowering the next wave of deep tech startups that are pushing the limits of innovation,” said Nancy Sullivan, CEO & Senior Managing Director of Illinois Ventures. “The Fund is designed to support companies with strategic ties to the University of Illinois System, positioning them as the future leaders in the deep tech space. Proudly backed by the University of Illinois System, the University of Illinois Foundation, and Carle Health – If you have Illinois in your DNA we want to hear from you.”

The Fund serves as a strategic enhancement of the University’s robust innovation ecosystem, ensuring that the brightest minds have the necessary resources and support for success.

“The Deep Tech Fund represents an exciting advancement in our partnership with the University of Illinois System,” said Dennis Hesch, Executive Vice President and Chief Finance & Strategy Officer of Carle Health. “This collaboration underscores our dedication to funding transformational companies.”

About Illinois Ventures

Illinois Ventures has been a catalyst for innovation and entrepreneurship for nearly 25 years, supporting startups and early-stage companies across diverse sectors. With a history of over 120 investments, Illinois Ventures consistently champions engineering marvels and pioneering solutions that have reshaped industries and improved lives. With deep ties to the University of Illinois System, it leverages an extensive network and industry expertise to empower visionary founders and drive transformative change. 

For details on Illinois Ventures’ new Illinois Deep Technology Strategic Venture Fund and other programs like Illini Angels see: www.illinoisventures.com.