The Fund
InnoVenture Iowa Fund is a $40 million co-investment fund designed to support early-stage startup companies in biosciences, advanced manufacturing, and IT/Saas/AI.
Eligibility
Eligible companies must be headquartered (or have “significant operations”) in Iowa. We seek to represent between 10-25% of fundraising rounds that span from $250k-$2M. Companies seeking investment funding from the InnoVenture Iowa Fund should operate loosely within the industries of bioscience, advanced manufacturing or information technology, and will need to show a signed term sheet (from a lead investor) for consideration from our investment committee.
Investment Thesis
We are an Iowa-based fund seeking to make investments in Iowa startups. InnoVenture Iowa Fund is the state’s first publicly funded venture capital fund, designed to address a measurable (and tractable) gap in VC funding for early-stage companies in the areas where our state has a natural competitive advantage.
We are a co-investment fund, which means that the InnoVenture Iowa Fund will not lead fundraising rounds, but should instead follow-on with a cohort of co-investment partners, including other VC Funds (in- or out-of-state), private entities or indivdiual (angel) investors.
- Average Check Size: $250,000
- Industry Focus: Biosciences, Advanced Manufacturing or Information Technology
- Iowa-Based Companies (Headquartered or “Significant Operations”)
- Co-Investment Partners: Private VC Funds, Businesses or Angel Investors