In a significant move to bolster the state’s entrepreneurial landscape, Wisconsin officials have unveiled a $100 million investment fund aimed at supporting start-ups and entrepreneurs statewide.
The Wisconsin Investment Fund, a public-private venture capital initiative, was introduced by Governor Tony Evers during a news conference at Forward BIOLABS, a nonprofit in Madison dedicated to launching startup companies. Gov. Evers highlighted the fund as the largest public-private investment in Wisconsin’s history aimed at fostering start-ups and entrepreneurship.
“Over time, we expect the value of this fund to grow exponentially—with a ten-to-one private-public investment ratio,” Evers stated. “This fund is a win for businesses who will have the support to take their ideas to new heights, and it’s a win for Wisconsin to maintain our position as a competitive leader in business innovation.”
The initiative requires venture capital firms to match each dollar of public funds with at least one dollar of private investment, effectively doubling the state’s investment impact. Returns from the state’s investments will be reinvested into the fund to generate additional capital.
Targeting industries such as technology, healthcare, agriculture, and manufacturing, the fund places a significant emphasis on biohealth, with $27 million earmarked for this sector.
Joining Gov. Evers at the announcement were five venture capital management firms and Wisconsin Economic Development Corporation (WEDC) Secretary and CEO Missy Hughes. The WEDC is in negotiations with a sixth firm to manage the remaining $5 million.
The private fund partners included in the initiative are:
1. HealthX Ventures | $15 million – Madison-based
2. Venture Investors Health Fund | $12 million – Based in Madison and Milwaukee
3. Serra Ventures | $7 million – Based in Champaign, Illinois, with funds designated solely for Wisconsin
4. NVNG Investment Advisors | $6 million – Based in Madison and Milwaukee
5. Idea Fund of La Crosse | $5 million – Based in La Crosse
This strategic investment fund underscores Wisconsin’s commitment to nurturing innovation and maintaining its competitive edge in various high-growth sectors.
