IL SB3777

Allows State Treasurer to allocate venture capital investments through Technology Development Account II (TDA II), which consists of TDA IIa (state funds) and TDA IIb (private sector funds), each capped at 5% of the Treasurer's investment portfolio.

Expands venture capital definition to include debt financing in addition to equity, and adds co-investments as a new investment strategy for indirect investments in Illinois technology companies.

Requires TDA II-Recipient Funds to invest a minimum of twice the amount received from the State Treasurer in Illinois companies, with enforcement mechanisms allowing the Treasurer to terminate commitments after 180 days of non-compliance notice.

Allocates new investment capital as follows: no more than 15% for emerging funds, no more than 5% for co-investments, and at least 80% for established TDA II-Recipient Funds.

Establishes new annual public disclosure requirements on the Treasurer's website including internal rates of return, investment commitments, portfolio composition, and diversity information regarding fund managers, and requires Technology Development Fund grants to support schools, incubators, and programs in underrepresented communities.