The Wisconsin Investment Fund, a new resource from WEDC, is providing $50 million to boost innovative, young businesses that could energize the state’s economy for years to come.
The fund will partner with professional venture capital managers who will identify promising companies to invest in, and the venture managers will match the state’s investment in each of the companies. As a result of initial private match funding and subsequent funding of successful companies, WEDC expects to leverage more than $500 million in private small business funding over the next 10 years.
“This is a very powerful tool,” says Aaron Hagar, vice president of entrepreneurship and innovation at WEDC, which is administering the fund. “We are really enthusiastic about getting this off the ground. It will provide easier and better access to capital for startups, and it will increase the strength of Wisconsin’s investment community.”