Wisconsin Gov. Tony Evers is proposing a $75 million venture capital fund of funds program that would be run by the Wisconsin Economic Development Corp. (WEDC).

The program would build on the state’s existing Badger Fund of Funds program, which was launched in 2013 with $25 million under former Wisconsin Gov. Scott Walker. The idea behind both programs is to spur economic growth through entrepreneurship by growing the state’s venture capital ecosystem.

But given that it will need approval by the state Legislature later this year as part of the 2023-’25 budget process, the proposed new program must pass negotiating hurdles before it could come to fruition. Evers, who is a Democrat, proposed a $100 million venture capital program during the 2021-’23 budget process and the Republican-led Legislature left it out of the final budget.

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