On Thursday at the University of Wisconsin-Milwaukee Accelerator Building in Wauwatosa, the founders and managers of three fairly new Wisconsin-based venture capital funds discussed the state’s investment ecosystem and how their funds are looking to invest in pre-revenue and early-stage companies across the state.
The event was hosted by the Wisconsin Technology Council.
The funds – Bold Coast Capital, Winnow Fund and Forward Capital Fund — are the newest funds under the Badger Fund of Funds umbrella and are expected to generate more deal flow in the state.
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 Kegonsa Capital Partners.
The Badger Fund of Funds supplies a certain percentage of capital into the new funds and the rest of the money is raised from private investors. Other Badger recipient funds include the Idea Fund of La Crosse, the Winnebago Seed Fund and the Rock River Capital Fund.