TLDR:
- A $100 million fund to support start-ups and entrepreneurs has been launched in Wisconsin.
- The Wisconsin Investment Fund is a public-private initiative with $50 million in federal funds and $50 million from private investors.
Governor Tony Evers and Wisconsin’s economic development agency have introduced the Wisconsin Investment Fund, a $100 million initiative to bolster startup companies and entrepreneurs. The fund, backed initially by $50 million in federal funds and $50 million from private investors, was unveiled at Forward BIOLABS in Madison. Managed by venture capital firms, the investments aim to match public money with private investment to support businesses in technology, health care, agriculture, manufacturing, and other sectors.
Missy Hughes, secretary of the Wisconsin Economic Development Corporation, expressed the desire to support local entrepreneurs to start, grow, and remain in Wisconsin. Returns on investments will be reinvested in the fund to create new opportunities for businesses to expand. The State Small Business Credit Initiative from the U.S. Treasury provided federal funding for this program, which is set to benefit various companies, including HealthX Ventures, Venture Investors Health Fund, Serra Ventures, NVNG Investment Advisors, and Idea Fund of La Crosse.
The fund will help foster innovation and business growth in Wisconsin, with Governor Evers highlighting the potential for job creation and economic development within the state. As negotiations continue for the remaining $5 million allocation, the Wisconsin Investment Fund represents a significant step towards supporting the entrepreneurial ecosystem in Wisconsin.
