Northwestern Mutual CEO John Schlifske said his company is dedicating millions to a venture capital fund to help build new local businesses and attract people to Milwaukee.
“We’re trying to build a more robust technological community here in Milwaukee to attract people to come and work in the digital space,” Schlifske said Sunday on “UPFRONT with Mike Gousha,” produced in partnership with Wispolitics.com.
Schlifske said Northwestern Mutual has dedicated about $5 million of its $225 billion in assets to the venture capital fund.
“One thing we saw that was missing was a vibrant startup community,” he said. “There’s just not a lot of investment or opportunity for people to build businesses that way.”
He said the fund is looking for startup investments from $100,000-$500,000. He said the venture capital investments won’t be related strictly to tech companies, but “we’re trying to find more entrepreneurs and startups that will be in this digital space and we hope to encourage people to put their proposals to us.” Read the full story here.