The Idea Fund of La Crosse has raised $31.5 million for a second venture capital fund, targeting startups in Wisconsin, Minnesota and Iowa.
The VC firm yesterday announced the fund, which aims to invest in pre-revenue and early-stage businesses in agriculture, manufacturing, health care and logistics.
The release notes the Idea Fund of La Crosse II fund is among the three largest funds ever that are focused on the three-state region, based on Pitchbook data. It will make initial investments of between $500,000 and $1 million in about 20 startups, according to yesterday’s announcement.
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