TLDR
- Investments in young Wisconsin companies fell by 23% in 2023, totaling $490.2 million
- 10 deals accounted for nearly three-quarters of the dollar amount
Article Summary
According to the Wisconsin Technology Council, investments in young Wisconsin-based companies by angel and venture capital firms fell 23% in 2023, totaling $490.2 million. The top-10 deals by dollar size accounted for nearly three-quarters of this amount, with companies like VBA Software, SHINE Technologies, Bend Health, and Type One Energy taking a significant share.
The median amount among the 107 deals tracked was $750,000, indicating that many young companies are still able to attract angel and venture capital. However, the outlook for 2024 in Wisconsin remains uncertain, with Technology Council President Tom Still expressing the need for more efforts to keep pace with neighboring states.
Health care and information technology sectors represented the majority of investments, with 54 deals in the Madison area and 37 in southeast Wisconsin. Despite the challenges faced in 2023, there is hope for the future of young companies in Wisconsin.
