WAUWATOSA – Creation of a state-leveraged venture capital fund that would spur company formation and job growth over time was recommended Thursday in a report by the 58-member Wisconsin Growth Capital Coalition.
The report was released during the fifth annual Resource Rendezvous conference in Wauwatosa, which attracted start-up companies and investors.
Released at the start of the Wisconsin Legislature’s fall floor period, the report recommended:
- Creation of a “master” fund-of-funds that would invest in 14 to 20 venture capital funds over time. The creation of a $350-million, state-leveraged, privately managed fund-of-funds would spur private co-investment at home and beyond. These recipient funds will raise an additional $350 million to $1.05 billion in aggregate and commit to offices, staff and investments in Wisconsin.
- Rapid deployment of some portion of the fund by utilizing indigenous Wisconsin funds with existing structures, network connections and deal-flow pipelines. Investor networks and funds report there are deals on the table today that could be closed within six months of enactment.
An online version of the full, 36-page report is available at www.wisconsintechnologycouncil.com/publications
