When lawmakers on the Republican-controlled Joint Finance Committee began the process of retooling Gov. Tony Evers’ budget, one item that survived was a $100 million venture capital “fund of funds.”The proposal by Evers, a Democrat, has the support of eight former secretaries of the Wisconsin Economic Development Corp. and the former state Department of Commerce. The group includes five appointed by Republican governors and three by Democratic governors.
The venture capital fund “would allow Wisconsin entrepreneurs to secure needed next-step financing from in-state sources so they don’t have to look to, or move to, the coasts for capital,” WEDC Secretary and CEO Missy Hughes said in a statement.
The former secretaries supporting the creation of the fund include:
- Reed Hall, former Wisconsin Economic Development Corporation secretary
- Mark Hogan, former Wisconsin Economic Development Corporation secretary
- Paul Jadin, former Wisconsin Economic Development Corporation secretary
- Dick Leinenkugel, former Wisconsin Department of Commerce secretary
- Brenda (Blanchard) Luckritz, former Wisconsin Department of Commerce secretary
- Bill McCoshen, former Wisconsin Department of Commerce secretary
- Cory Nettles, former Wisconsin Department of Commerce secretary
- Aaron Olver, former Wisconsin Department of Commerce secretary
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