The state of Illinois will invest $220M in Chicago's tech ecosystem
From Feb. 2:
The State of Illinois is planning to invest $220 million in State venture funds over the next three years, Treasurer Michael Frerichs announced. The investment is aimed at helping grow tech jobs in Illinois and to support Chicago's burgeoning startup ecosystem, the State says. The state won't invest in startups directly, instead spreading the $220 million around between 15-20 venture capital funds. No more than 15 percent of the money will be placed within the same fund, the state says.
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