The Idea Fund of La Crosse has launched its second venture fund focused on pre-revenue startups. Called Idea Fund II, the new venture fund has already attracted over $20 million in investment capital, according to a filing with the Securities and Exchange Commission. The fund’s goal is to raise up to $25 million.
Idea Fund II expects to make investments in Wisconsin, Minnesota and Iowa. Idea Fund of La Crosse invests in startups at the earliest stages including companies that have not yet made a sale or finalized their first product. The new $20 million venture investment is expected to increase the pipeline of high potential startups in the three-state region.
La Crosse native and former Wall Street businessman Jon Horne is the managing director of the fund. Libby Weber, CEO at the Weber Group, also helps manage the fund.