The Idea Fund of La Crosse I, LP (IFOLC) announced today that it has received capital commitments of $12 million and has held its second close. IFOLC achieved its initial close in February of this year on $8 million. IFOLC’s initial fundraising target range was $8 to $12 million, and the fund’s Investment Committee is currently considering whether to accept additional capital commitments.
“We are extremely pleased to achieve this milestone. The closing of this round will allow us to invest in startup companies based in Wisconsin. Raising the funds in Wisconsin (20 of the 23 limited partners are located in Wisconsin), with an institutional investor in Wisconsin, and investing in Wisconsin-based companies, while helping build Wisconsin’s economy, is thrilling for us” said Jonathon Horne, Managing Director, Idea Fund of La Crosse
The fund has received commitments from 23 limited partners, including the Wisconsin-based Badger Fund of Funds, the Weber family of La Crosse and other Wisconsin investors. Excluding the Badger Fund investment, the average investment size is $320,000. The fund’s limited partners include highly successful business executives and startup founders, over 60% of whom are making venture capital commitments for the first time.
The Idea Fund of La Crosse was established in 2016 to invest in early-stage startup companies. The fund targets Wisconsin-based startups in the pre-revenue stage, diversified across sectors. The fund seeks to partner with highly skilled founders, and provides support from initial investment through company exit.
For more information about the Idea Fund of La Crosse go to https://www.ideafundvc.com/
About the Badger Fund of Funds
The Badger Fund of Funds I, LP was formed in 2015 and includes $25 million from the State of Wisconsin pursuant to 2013 Wisconsin Act 41 to invest in Wisconsin-based venture capital funds. The Badger Fund is managed by a partnership of Sun Mountain Capital and Kegonsa Capital Partners. www.badgerfundoffunds.com