Armed with $40 million in fresh capital and a new name, one of Chicago's rising venture funds is adding to the local pool of money for homegrown technology startups.
The I2A Fund, which was created in 2007 with contributions from the state of Illinois, announced Monday that it has closed its second fund with $40 million and renamed itself Chicago Ventures. The new fund is composed entirely of private capital, and the primary investors are local venture capitalist J.B. Pritzker, The Duchossois Group and Pat Ryan Jr. Pritzker and The Duchossois Group, along with the state, had been the main contributors to the first I2A Fund, which totaled $10 million.
