The Iowa Innovation Corporation today announced the release of a Request for Proposal (RFP) for the position of fund manager for the new Iowa Innovation FundSM. HF 615, approved by the Iowa Legislature and signed into law by Governor Branstad, enables the Iowa Innovation Corporation to develop an investment fund to support Iowa companies. The fund will fill the critical gap between angel and venture capital funding for Iowa businesses poised for growth.
“The Iowa Innovation Corporation believes that the Iowa Innovation FundSM will help strengthen early stage funding in Iowa’s financing continuum by leveraging up to $32 million per year in new capital investments for Iowa-based businesses with high-growth potential,” said Karen Merrick, Chief Operating Officer of the Iowa Innovation Corporation.
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