Newly created Madison firm NVNG Investment Advisors is preparing to enter the market with its first fund that will be used to invest in venture capital funds that ultimately vet and invest in startup companies with high-growth potential.
NVNG, which stands for “Nothing Ventured, Nothing Gained,” is targeting $200 million for its first fund, according to a recent filing with the U.S. Securities and Exchange Commission. The fund will contain between 10 and 20 venture capital funds capable of providing investors “exposure to upwards of 400 innovative companies,” according to a newsletter released by the firm Thursday.
Carrie Thome, co-founder and managing director of NVNG and the former chief investment officer at the Wisconsin Alumni Research Foundation, the patent and technology licensing arm of the University of Wisconsin-Madison, previously said the firm’s first fund would emphasize investments in Wisconsin-based startups. In its newsletter, the firm said the inaugural fund would also target Midwest-based corporations, institutional investors, family offices and institutions of higher education.
The firm was launched to add value to corporations and financial investors, like endowments, foundations and pension funds, that may not have an in-house investment team or access to quality venture capital funds. The strategy would also be key to “unlocking the potential that exists in this under-ventured region of the country.” By focusing on building and managing a venture capital fund of funds and/or providing advisory around investment portfolio implementation and design, NVNG would help entities invest “where true above-market returns exist,” Thome previously told the Business Journal. Read the full story here.