About
Iowa Capital Investment Corporation (ICIC) is a state-chartered, not-for-profit venture capital organization headquartered in Des Moines that serves as Iowa's primary fund-of-funds vehicle for building the state's entrepreneurial ecosystem. The organization operates through an evergreen, self-sustaining model designed to create a durable investment infrastructure within Iowa. ICIC's core strategy involves deploying capital through the Iowa Fund of Funds, which makes commitments to private venture capital funds that in turn invest in Iowa-based companies and entrepreneurs. This fund-of-funds structure allows ICIC to amplify its impact by partnering with specialized venture managers while maintaining focus on companies with roots or operations in Iowa. The organization explicitly targets early-stage and growth-stage ventures, working to empower local entrepreneurs and stimulate commercialization of research-backed innovations. ICIC maintains a curated directory of venture capital and angel/seed funds operating within Iowa, positioning itself as a central information resource for entrepreneurs and investors navigating the state's capital markets. The fund operates with a multi-sector investment approach, backing companies across technology, agriculture, and other innovation-driven industries where Iowa maintains competitive advantages. As an evergreen fund structure, ICIC is designed for long-term capital deployment rather than traditional finite fund lifecycles, enabling patient capital strategies aligned with regional economic development. The organization has made notable public commitments including investments in companies like Dwolla, reflecting engagement with financial technology ventures. ICIC's model prioritizes local investor participation and aims to demonstrate that venture capital can be sustainably deployed at the regional level, creating a self-reinforcing network where successful exits generate returns that fuel subsequent investment rounds within Iowa's startup ecosystem.