While the Badger Fund of Funds is still working toward the program’s stated goal of investing in Wisconsin-based startups, the pool of money its leaders will draw from when they do so continues to expand.

The Idea Fund of La Crosse, one of the “recipient” funds created under the public-private Badger Fund of Funds program, recently raised $4.9 million from investors, says Jonathon Horne, the fund’s managing director. That brings the total amount the Idea Fund has raised since launching in mid-2016 to $13 million.

The Idea Fund plans to invest in 10 to 12 early-stage companies over the next four years, Horne says. The fund is currently looking at a number of Wisconsin-based startups seeking growth capital, but does not have a concrete timeline for making its first investment. Read the full story here.