BrightStar Wisconsin Foundation’s annual report shows the group invested nearly $5.9 million in 2017.
This nonprofit foundation accepts donations and uses the funds to invest in early-stage companies, with a goal of creating more tech-related jobs in Wisconsin.
At the end of 2017, BrightStar had over $7.8 million in assets with just over $34,000 in cash on hand.
About 40 donors have contributed $8.8 million to the foundation in the past four years. Each contribution ranges from $100,000 to $1 million, and pledges are accepted for up to five years.
“As we enter our fifth year of investing, we expect to see exits for some of our earlier class of companies and thus returns for the portfolio,” said BrightStar’s president and CEO, Tom Shannon.
The report notes portfolio companies making progress last year: Shine Medical, a radioisotope production company breaking ground on its first Janesville building; and Dairyvative, a dairy processing technology business opening up a new production facility in Sheboygan. Read the full story here.