Illinois Emerging Technologies Fund

The Illinois Emerging Technologies Fund (IETF), based in Champaign, Illinois, operates as a venture capital fund dedicated to investing in early-stage companies commercializing complex research and development technologies. Primarily sourcing from the University of Illinois and across the state, IETF provides crucial seed funding for patent-related innovations, aiming to bridge the gap for startups transitioning into mainstream venture capital. The fund targets sectors such as biotech, drug discovery, health tech, VR/AR, and web software. Across its three funds, IETF has collectively raised over $60 million, including $27 million for IETF I in 2004, $25 million for IETF II in 2008, and approximately $15 million for IETF III in 2019, which plans 8-12 investments. Notable portfolio companies include ShareThis, iCyt (acquired by Sony), Personify, Revolution Medicines, and Apervita. Led by CEO Nancy Sullivan, the first IETF fund was launched in February 2004.