An affiliate of Milwaukee-based Robert W. Baird & Co. Inc. is raising a $185 million venture capital fund, according to a new SEC filing.

Robert W. Baird & Co. Inc.’s headquarters is in the U.S. Bank Center in downtown Milwaukee.

Baird Venture Partners V LP is raising the capital for private equity use, according to the filing. The total offering amount is aggregated with BVP V Special Affiliates LP and BVP V Affiliates Fund LP. The first sale had not yet occurred as of the Dec. 27 filing.

Baird Venture Partners is the U.S. venture capital fund of Baird Capital, Robert W. Baird’s direct investment division. It invests in early-stage and expansion-stage companies in the health care, technology and services, and industrial solutions sectors. Since 1989, Baird Capital has invested in about 300 companies, including Milwaukee-based Alpha Source Inc., Brookfield-based Pinstripe Inc., Madison-based TomoTherapy Inc. and Madison-based Promega Corp. Read the full story here.