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Wisconsin Investment Fund Wisconsin Investment Fund Kirsten Rich 2025-08-22T15:30:39-06:00 Together, we’re fueling the creation and success of Wisconsin startups. The Wisconsin Investment Fund is seeded with $50 million from the federal government State Small Business Credit Initiative program.

The Fund provides a source of venture capital for strategically selected seed and early-stage venture funds and fund managers for investment in start-up companies in Wisconsin. The fund managers raise private equity capital that matches the WEDC capital on at least a one-to-one basis, amplifying the impact of Wisconsin Investment Fund capital.

The selected venture fund managers will select startups for investment, with added venture capital to help these entrepreneurs take their ideas from concept through commercialization. Because of the one-to-one match, fund managers will have more venture capital to help ensure the continued success of their selected startups, with a ripple effect of economic impact including job creation.

The Wisconsin Investment Fund will take its ROI and reinvest it into the next generation of startups, creating a growing source of capital to fuel future innovation. In the next decade, WEDC expects to leverage more than 10 times the initial investment in subsequent private capital. Read the fund manager bios listed below to find the one that seems like the right match for your startup.

In return for funding, venture capital firms receive an equity stake in each startup. They also receive a WEDC-paid annual fee for their discerning investment of our capital. Venture capital fund managers will review hundreds of potential startup investments.

The process from review to funding can take at least six months if your company is chosen for investment. Directly contact that venture capital fund manager to inquire about funding. Read the fund manager bios listed below to find the one that seems like the right match for your startup.

Directly contact that venture capital fund manager to inquire about funding. Sit tight as venture capital fund managers review hundreds of potential startup investments. The process from review to funding can take at least six months if your company is chosen for investment.

In return for funding, venture capital firms receive an equity stake in each startup. They also receive a WEDC-paid annual fee for their discerning investment of our capital. WEDC’s Venture Capital Fund Manager Partners HealthX Ventures is a digital-healthcare-focused venture capital firm based in Madison, Wisconsin.

It invests in innovative companies making healthcare safer, more efficient, and more affordable. Venture Investors is a healthcare-dedicated venture capital firm based in Madison, WI and Ann Arbor, MI. It’s focused on commercializing early-stage biomedical innovations developed in world-class research universities of the Midwest, with a special emphasis on Wisconsin innovation.

Serra Ventures is a Midwest-focused venture capital firm based in Champaign, Illinois. It provides early-stage, emerging, and growth-stage venture capital to agriculture-focused technology companies sourced primarily from emerging Midwestern technology centers and selected other geographies. NVNG Ventures is a general technology-focused venture capital firm located in Madison, Wisconsin.

It’s stated mission is to help make Wisconsin’s startup ecosystem globally competitive by creating more connections and building stronger networks with the venture capital industry. CEO/Managing Partner, Serra Ventures CEO/Managing Partner, Serra Ventures Tim Hoerr is a seasoned business executive with nearly 40 years of experience in a variety of industries.

He serves as the CEO and managing partner of Serra Ventures, which he founded in 2008. He was cofounder and former CEO of iCyt Mission Technology Inc., a highly successful bio-instrument company that won numerous awards for technology and business excellence and which was acquired by Sony Corp. in late 2009. Tim was awarded the Entrepreneurial Excellence in Management Award at the 2009 Innovation Celebration.

Prior to iCyt, Tim was the president and chief financial officer of SourceGear, an early internet browser company focused on mobile devices. Subsequent to his tenure at SourceGear and iCyt, he served as the CEO of ImmuVen, a drug development company that was acquired by a large pharmaceutical company in 2014.

Tim spent nearly all of the first 15 years of his professional career with RSM McGladrey (now RSM) in Illinois and San Diego, leading teams of consultants focused on serving middle-market clients. In his capacity as consulting partner with McGladrey, Tim provided leadership on a regional and national level.

He also served on two national committees for the American Society of Certified Public Accountants (Business Valuation and Emerging Services). A published author and former professional speaker, he has given over 300 speaking and workshop presentations in his professional career.

Managing Partner, HealthX Ventures Managing Partner, HealthX Ventures The epitome of an entrepreneur, Mark has seen the peaks and valleys of starting, operating, and assuming the risks of a new venture. He’s come up against payroll, had a few bad hires, and even swept the floors early on. As a founder, Mark has scaled his companies from $0 to greater than $400 million in revenue.

Collectively, Mark’s portfolio companies have raised more than $1. 1 billion in venture capital, and he has successfully bought and/or sold nine companies. Among Mark’s previous companies is Nordic Consulting Partners, the industry leader in EHR consulting services to organizations using Epic.

As CEO, Mark helped Nordic achieve a #1 in KLAS ranking, where it has remained since 2012. Nordic now has over 700 consultants working across 44 states. In 2014, the company was recognized as the 46th fastest-growing company in the country.

Prior to his time at Nordic, Mark founded Goliath Networks. He grew it to #97 on the Inc. 500 Fastest-Growing Companies list and sold that company in 2002. Mark has worked with Eric Schmidt on Novell’s Partner Advisory Group and was also asked by Bill Gates to serve on Microsoft’s first Partner Advisory Council, which he did from 2001 to 2007.

A Badger at heart, Mark grew up in the Milwaukee area before attending the University of Wisconsin-Madison, from which he holds a degree in computer science. Chief Financial Officer, Venture Investors Chief Financial Officer, Venture Investors David is Chief Financial Officer and a Managing Director for Venture Investors LLC and is based in Milwaukee, Wisconsin.

He first joined the firm in 2000 as an analyst and progressed into a full-time Associate role where he was responsible for due diligence, pipeline building, and market research. In 2003, he departed to pursue an opportunity as CFO and partner at an environmental company in the Milwaukee area.

While there, he was directly involved in the acquisition of four competitors, as well as the merger with another company that expanded its geographic footprint. He rejoined Venture Investors as CFO in 2016. Prior to 2000, David started his career as an auditor in Chicago at Shepard Schwartz & Harris LLP, specializing in medium sized family businesses.

From there, he went to Cumulus Media, a start-up radio station company focused on acquiring and consolidating radio stations in small and medium sized markets. With David working on its acquisition team, Cumulus grew into a media giant, acquiring over 300 stations. He was also involved in the company’s initial public stock offering.

Interested companies should reach out to Jenni Le at jenni@ventureinvestors. com . Managing Director, NVNG Investment Advisors Managing Director, NVNG Investment Advisors Carrie Thome is a seasoned executive and Board Member with decades of experience in delivering top-quartile investment results.

She co-founded NVNG in late 2019 with Grady Buchanan with the mission to bring venture capital to those interested in the asset class. In her former role of Chief Investment Officer for the Wisconsin Alumni Research Foundation (WARF), Carrie oversaw management of a $3 billion investment portfolio, managing a team of seven financial professionals.

In 2017 and 2016, she was named the 26th and 18th most powerful institutional investor in the world by Chief Investment Officer. Investors ranked asset owners by five factors: innovation, collaboration, talent development, fund size, and tenure. Carrie joined WARF in 2001 as the Associate Investment Director and became Chief Investment Officer in 2007.

Prior to joining WARF, she was Assistant Portfolio Manager for a $3 billion private equity portfolio at the State of Wisconsin Investment Board. Carrie is based in Madison, WI. Managing Director, Idea Fund of La Crosse Managing Director, Idea Fund of La Crosse Jonathon Horne is a La Crosse native with a deep appreciation for the region.

Before returning home to La Crosse as the Idea Fund Managing Director, Jon worked in investment banking for J. P. Morgan at its New York headquarters.

He graduated with a bachelor’s degree from Lawrence University, and an MBA and JD from the University of Wisconsin-Madison. He lives in La Crosse with his wife Kylie and their son James. Frequently Asked Questions What is the mission of WEDC’s Wisconsin Investment Fund?

This $50 million investment pool is dedicated to fueling innovative small businesses that will boost Wisconsin’s economy. How was the Wisconsin Investment Fund established? The Wisconsin Investment Fund’s initial capital is made possible by a grant from the U.S. Department of the Treasury’s State Small Business Credit Initiative (SSBCI) .

How much is WEDC investing in startups? WEDC has been allocated $50 million from the Department of Treasury under the American Recovery Plan Act of 2021 to fund startup company efforts within Wisconsin. This capital is being matched at least equally by other private capital, making a total of $100 million available to startups in the state.

How is WEDC choosing its investments? WEDC is partnering with experienced venture capital firms to make venture capital investments on our behalf in the state. These venture capital firms in aggregate will invest across the state in a wide variety of industries and economic sectors.

How does an entrepreneur seek funding from the WEDC venture program? Entrepreneurs can email WEDC’s venture partners at the email addresses provided on this website, or you can contact WEDC’s venture investment team at investmentfund@wedc. org to discuss your investment needs.

How long does it take to receive venture capital from the WEDC program? WEDC’s venture capital managers evaluate hundreds of potential investments each year but are only able to fund a limited number of them. The venture managers perform extensive due diligence review of each entrepreneur and investment opportunity, with the length of time required varying based on the details of each opportunity.

Successful funding of an entrepreneur may take six months or more. Are entrepreneurs charged a fee to receive WEDC venture funding? There are no fees charged to entrepreneurs for evaluation of their business opportunity or its funding.

The capital pools operated by the venture capital managers receive an equity stake (partial ownership) in the company in exchange for providing their venture capital and advice to the company. WEDC pays an annual fee to the venture company for investing our capital in alignment with our goals and objectives. Are there additional resources for startups trying to secure funding?

Wisconsin Venture Capital Association: https://wisconsinvca. org A non-profit trade organization designed to encourage investor participation and collaboration in Wisconsin’s entrepreneurial ecosystem. Wisconsin Technology Council: https://wisconsintechnologycouncil.

com Holds multiple events around the state focused on tech-based startups. BrightStar Wisconsin: https://brightstarwi. org A non-profit venture capital fund focused on making investments in Wisconsin-based companies.

BizStarts: https://BizStarts. com A Milwaukee-based advisory and mentorship group for entrepreneurs. Milwaukee Venture Mentoring Service: https://mmac.

org/mkevms A mentoring program for high-growth, scalable startups in the Milwaukee region, that supports entrepreneurs in accelerating growth. UW-Madison Office of Business Engagement: https://obe. wisc.

edu Connects industry with the research, talent and solutions of UW–Madison, one of the world’s top universities, to achieve their goals, build relationships and make an impact. MKE Tech Hub Coalition: https://mketech. org A nonprofit organization that spurs innovation and accelerates efforts to create a diverse and inclusive workforce to match the ever-growing demand for tech workers.

Its membership includes 135 organizations that span corporate, non-profit, education, and community. National Venture Capital Association: https://nvca. org A nonprofit association that convenes venture capital investors, entrepreneurs, and industry partners to shape public policy priorities, develop new industry initiatives, provide premier research, and participate in professional development opportunities with their peers.

Pitchbook: https://pitchbook. com The leading resource for comprehensive data, research and insights spanning the global capital markets, provided through a dynamic, paid online platform. Have a question that’s not covered in our FAQ?

Contact WEDC’s Entrepreneurship and Innovation team. Have a question that’s not covered in our FAQ? Contact WEDC’s Entrepreneurship and Innovation team.

Resources for Entrepreneurs, Startups, and Small Businesses Access a directory of entrepreneurial resources and a calendar of events from the Institute for Business & Entrepreneurship at the University of Wisconsin. Small Business Development Center Take advantage of the University of Wisconsin’s no-cost consulting and business education for entrepreneurs and business owners. Join us on Sept.

25 at the Wisconsin Investment Showcase to celebrate Wisconsin’s momentum in early-stage investing and innovation. Get the latest updates on the Wisconsin Investment Fund (WIF) — where we’ve been and where we’re headed. Learn from a panel of current WIF fund managers Listen to founder stories from companies in the WIF portfolio Enjoy plenty of food, drinks, and networking opportunities!

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