When many think of Wisconsin’s economy, they envision dairy farms and manufacturing facilities. But investment firms have taken increased prominence in the state’s economy in recent years — beyond just Madison and Milwaukee.

Since 2017, Wisconsin has seen a steady increase of investment in startup companies. That includes the record $868 million the state’s entrepreneurs raised in 2021, according to the Wisconsin Technology Council’s 2022 Wisconsin Portfolio, which measures investment in early-stage companies from the prior year.

In working on the 2023 portfolio, Wisconsin Tech Council President Tom Still said it looks like overall investment in startups in 2022 was less than it was in 2021. But he expects last year’s investment to remain higher than 2020’s total of $483 million.

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