State Rep. Jason Fields (D-Milwaukee) has launched fundraising for a $10 million venture capital fund aimed at investing in underserved entrepreneurs in the state.

Jason Fields

Dark Knight Capital Ventures LLC was established in January, according to state records.

“I’m looking to see what we can do to increase the diversity in minority, women entrepreneurs and how we can start getting access to capital among those underrepresented founders,” Fields said.

Fields said underrepresented founders are often steered toward loans, which is not the most sustainable system.

“We’re in the process of doing this raise now and we’re just getting in front of everybody,” he said. “I would like to have the $10 million…by the end of this year.”

Some investors in the fund would like to focus their investments on Wisconsin startups, but Fields said the fund will also invest outside the state. Read the full story here.