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Rural Vitality Fund II, an iteration of the broader Rural Vitality Fund, establishes and manages investment vehicles for rural businesses. It provides equity and debt infusions, alongside private financing, supporting the growth of small to mid-sized firms. This approach combines financial backing with entrepreneurial mentoring, strategically complementing traditional capital to foster expansion in underserved regions.
The overarching Rural Vitality Fund LP was created by the Iowa Farm Bureau Federation, collaborating with Wellmark Blue Cross Blue Shield, CIPCO, and the Iowa Agriculture Finance Corporation. This collective identified a critical need for dedicated financing to stimulate economic development and address funding gaps for businesses in rural Iowa, leading to the fund's establishment.
Rural Vitality Fund II primarily serves early or growth-stage companies, typically LLCs and C-corps, operating within Iowa's rural communities. Investments aim to generate economic impact, fostering new job creation and business expansions. The organization’s vision is to empower local entrepreneurs, strengthening rural Iowa's fabric through targeted financial support.
Rural Vitality Fund II has 2 tracked investments across 1 company. The latest tracked deal is $11.0M Series C in VIDA in March 2020.
| Date | Company | Round | Lead Investor(s) | Co-Investor(s) |
|---|---|---|---|---|
| Mar 1, 2020 | VIDA | $11.0M Series C | OSF Ventures | Alpha JWC Ventures, DST Global, Indicator Ventures, Jungle Ventures, Next Level Ventures, The Valley Fund, Y Combinator, Blue Heron Capital, Chartline Capital Partners, Iowa First Capital Fund, Rittenhouse Ventures, The Angels' Forum, Unitypoint Health Ventures |
| Dec 1, 2016 | VIDA | $5.0M Series B | Phil Stern | Alpha JWC Ventures, DST Global, Indicator Ventures, Jungle Ventures, Next Level Ventures, The Valley Fund, Y Combinator, Iowa Seed Fund, Northern California Investment Fund, Rittenhouse Ventures |
