VC/ED  Wellmark Venture Capital Fund

https://www.wellmark.com/AboutWellmark/Commun ity/WellmarkVentureCapital.aspx





     Office Locations:

John Pappajohn Entrepreneurial Center
108 Pappajohn Business Building, Suite S160
Iowa City, IA 52242
Phone: 319-335-1022
Fax: 319-353-2445

 

Stages:

  • Seed


 

Industries:

  • Information Technology
  • Life Sciences & Healthcare

  •  

    Description:

    Wellmark Blue Cross and Blue Shield has committed up to $5 million to four John Pappajohn Entrepreneurial Centers in Iowa to fund the startup of Iowa businesses. The $5 million is part of $25 million Wellmark pledged in 2002 designated for Iowa-based economic development opportunities. Venture projects will be identified, investigated and recommended by Pappajohn Centers in four locations at The University of Iowa, University of Northern Iowa, Iowa State University and North Iowa Area Community College (NIACC) to Equity Dynamics. Equity Dynamics, at no cost to Wellmark, will further review the recommended projects, perform the necessary financial due diligence and, if appropriate, approve funding. Typical funding will provide up to $100,000 in convertible debt financing. Wellmark will have the right to convert the loan to equity at a future date should they choose. The term of the loan will be for a period of up to five years with an interest rate of 7 percent. Wellmark seeks only Iowa based for-profit corporations. Since 2003, Wellmark has made over 60 venture capital investments in 34 communities throughout the state, including Cedar Rapids, Clinton, Davenport Ellsworth, Fairfield, Harlan, Hiawatha, Lake Mills, Mason City, Mt. Pleasant, Pella, Sheffield, Washington, and Waterloo, among others.



    Investment Firm Key

       VC = Venture Capital
       PE = Private Equity
       A = Angel
       I = Incubator
       MB = Merchant Bank
       VD = Venture Debt
       FI = Family Investment Office
       FOF = Fund of Funds
       ED = Economic Development Office   
       TT = Technology Transfer Office
       CVC = Corporate Venture Capital
       SEC = Secondary Purchaser
       HF = Hedge Fund/Mutual Fund
       
       
       
    COMPANY STAGEREVENUE
    Venture Capital
    Seed Stage
    (includes "pre-seed," or
    concept stage)
    No Revenue
    Early StageMinimal
    Revenue
    Growth Stage
    (also called Mid-stage)
    $2M-$7M
    Expansion Stage
    (also called Late-stage)
    $7M and greater
    Private Equity
    Lower Middle Market$10M-$249M
    Middle Market$250M-$499M
    Upper Middle Market$500M-$1B
    Large Cap>$1B
       
       
     

    Investment Team:


    Name   Title
    Get the complete investment team + individual email addresses for investment team partners. Get personal images, LinkedIn links, investment specialties, office locations and more with a National Database subscription.
    Lee Groeschl Associate Director

     

    Portfolio companies include:

     

    Recent News:


      There is no recent news for Wellmark Venture Capital Fund.