Dana Guthrie, a product manager at Johnson Controls International and founder of Milwaukee angel investment network Alchemy Angel Investors, has been selected to lead Milwaukee-based venture fund Gateway Capital Fund, according to an announcement from the group that created the fund.

Guthrie, a Milwaukee Business Journal 2020 40 Under 40 honoree, will be the full-time managing partner of the fund, which is restructuring to be the first venture capital investment in startup companies that are not yet generating revenue. The fund focuses on startups in Milwaukee County.

“Dana has the credentials, drive and experience in the Milwaukee financial ecosystem to make a difference in the region’s economy,” Ken Johnson, Badger Fund of Funds partner, said in a statement. “She emerged from a very strong field of applicants to be the clear choice to serve as managing partner. She is well-positioned to tap the great potential in our state’s largest metro area by surfacing high-potential entrepreneurs and partnering with them venture dollars to grow successful companies.”

In 2013, the state of Wisconsin awarded $25 million to establish the Badger Fund of Funds, which raised an additional $5 million from the private sector and agreed to create six to eight venture capital firms across the state. Running the program is Santa Fe, New Mexico-based Sun Mountain Capital, which specializes in regional investment programs, and Wisconsin-based Kegonsa Capital Partners.

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