Next Level Ventures Announces First Close of Third Iowa Strategic Investment Fund

Des Moines, IA - Today, Next Level Ventures ("NLV") announced the first close of its third Iowa strategic investment fund, Next Level Ventures Fund III ("NLV Fund III"), and fifth fund overall. NLV is the largest venture firm in Iowa, managing over $500M in assets across its five funds. NLV Fund III, like the firm's first two Iowa funds, is a certified Iowa Innovation Fund, and its investors qualify for the Innovation Fund Tax Credit.

"We are thrilled to launch our third Iowa Innovation Fund," said Liz Keehner, Principal at NLV. "Next Level Ventures has a long history supporting Iowa entrepreneurs and startups, and we're thankful to our initial investors who believe in our mission to foster innovation across the state."

The firm also completed its first investment from NLV Fund III, a seed investment in Genvax Technologies ("Genvax"), based in Ames, IA. Genvax, founded in 2021, is the developer of next generation mRNA + nanoparticle animal vaccines.

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Originally published by Next Level Ventures in February 2025.