TLDR:
- Idea Fund of La Crosse raises $31.5 million for Midwest startups
- New venture capital fund aimed at supporting pre- and early-stage revenue startups in the Midwest
Article Summary:
As venture capital fundraising sees a decline, the Idea Fund of La Crosse has successfully raised $31.5 million for their second venture capital fund. This fund will focus on financing projects in industries like agriculture, manufacturing, supply chain, and healthcare in the Midwest, specifically Iowa, Minnesota, and Wisconsin. The fund, one of the three largest raised for the region, plans to support about 20 startups with initial investments ranging from $500,000 to $1 million.
The Idea Fund has already made investments in four startups, including Golgix, Distribution Depot, Lumberjack, and Hopper Health. Their partnership with Pablo Capital aims to continue supporting the growth of tech startups in the region. The organization’s general partner, Jonathon Horne, emphasizes the importance of supporting regions most promising entrepreneurs during challenging times, as it can lead to the creation of great companies.
The new fund’s focus on emerging technology and deep industry expertise in the region aims to invest in startups that provide unique value propositions. The partnership with Pablo Capital, co-founded by Zach Halmstad, aims to further enhance the startup community in the region and provide founders with potential capital. Overall, the Idea Fund of La Crosse’s new venture capital fund signifies a strong commitment to supporting the growth and success of tech startups in the Midwest.
