Madison Development Corp. has raised more than $6 million for its sixth Venture Debt Fund to lend to growing companies in Dane County.
The funding is available to high-tech companies that have raised venture capital or angel investment rounds and are generating revenue, according to a statement from MDC. Since 2004, the debt fund has provided loans to more than 50 companies in the county that have created more than 1,400 jobs.
“Our goal is to keep high growth companies here in Dane County so they can create quality jobs that keep talent here in Wisconsin,” Madison Development Corp. president and CEO Lorrie Heinemann said in a statement. “Our Venture Debt Fund continues to be a resource for many local companies when capital is critical.”
Companies that have received funding from MDC include TomoTherapy, Phoenix Nuclear and GrocerKey.