To continue to foster entrepreneurship at the University of Wisconsin, the Wisconsin Alumni Research Foundation (WARF) will offer “complementary opportunities,” including seed and venture funding, Managing Director Erik Iverson said in a keynote presentation during the Badger Startup Summit held Thursday at the Wisconsin Institutes for Discovery.
Iverson cited that abundant capital is a condition necessary for UW-Madison startups to have success. That’s why WARF has launched internal seed and venture funds, with $30 million already deployed.
The $10 million seed fund will populate 5-15 companies each year, and it will help get banks involved by “backstopping credit lines,” Iverson said. Meanwhile, the $50 million venture fund will be Series A, B or C.
Another area of focus for WARF is maturing technologies for commercial viability. Read the full story here.