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Wisconsin Economic Development Corporation Launches Investment Fund

Wisconsin Economic Development Corporation (WEDC) announced the launch of the Wisconsin Investment Fund, a Madison, WI-based public-private venture capital initiative that will initially invest $100m in startup businesses throughout the state.

The fund will be investing in innovative companies working in technology, healthcare, agriculture, manufacturing, and other areas. As required by the SSBCI program, it is targeting significant support for diverse businesses and companies located in underserved areas of investment.

A particular focus will be biohealth, with at least $27M of the state’s initial investment allocated to that sector. Last year, the U.S. Economic Development Administration designated Wisconsin as a Regional Technology Hub for personalized medicine and biohealth technology, which opens up to $75M in new federal funding to help accelerate research and development of new treatments.

The private fund partners and the amounts being invested with them include:

  • HealthX Ventures with $15M
  • Venture Investors Health Fund with $12M
  • Serra Ventures with $7M
  • NVNG Investment Advisors with $6M
  • Idea Fund of La Crosse with $5M

VCWire

03/06/2024