Terry Gou, chairman of Foxconn Technology Group, discusses the new venture capital fund at an announcement event
The four-corporation Milwaukee venture capital fund announced last week, Wisconn Valley Venture Fund, is an uncommon model.
Regional efforts such as Michigan’s Renaissance Venture Capital, St. Louis’ Arch Grants program and Cincinnati’s Cintrifuse Syndicate Fund have been formed by local stakeholders to drive startup activity in similar Midwestern cities, but on a private basis.Solo corporate venture funds are becoming increasingly common, including among the companies involved in the Wisconn fund. But a review of other group venture capital models shows there aren’t many like the Wisconn fund.
Renaissance is a private fund of funds which invests in existing venture capital funds around the country – with the condition that the investors come to Michigan to get the money and meet a couple of local entrepreneurs while they’re in town.
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