First Chicago Venture Capital

First Chicago Venture Capital (FCVC) was the private equity and venture capital subsidiary of First Chicago Bank, which later became First Chicago NBD. During the 1980s and 1990s, it established itself as one of the most prominent and successful investment firms in the United States, with a significant focus on healthcare, life sciences, and communications. The firm was instrumental in the early development of the leveraged buyout industry and managed a diverse portfolio of high-growth companies. In 1992, a significant portion of the investment team spun off to establish Madison Dearborn Partners, now a leading global private equity firm. The remaining operations were eventually integrated into Bank One and subsequently JPMorgan Chase following a series of bank mergers. FCVC is historically recognized for its role in institutionalizing venture capital and private equity within the banking sector.