MADISON -- Legislation to bolster venture capital investments in Wisconsin companies was unveiled Thursday at a Capitol news conference held by the bill’s main sponsors, Sen. Randy Hopper, R-Fond du Lac, and Rep. Gary Tauchen, R-Bonduel.
Dubbed the Wisconsin Jobs Act, the bill is expected to be introduced within days with bipartisan support. The focal point of the legislation is the creation of two funds totaling $400 million under the umbrella of a new Wisconsin Venture Capital Authority. The complementary funds – the Jobs Now Fund and the Badger Jobs Fund – are designed, respectively, to address Wisconsin’s short-term and long-term investment needs.
The Wisconsin Jobs Act builds on the success of the widely acclaimed and often duplicated Act 255 Tax Credits, which were passed in 2005 and enhanced in 2009. Those tax credits have helped enhance early stage investing in Wisconsin – but largely at the “angel” capital level, thus creating a need for follow-up investing by venture capital firms in emerging companies.
To read the full, original article click on this link: Wisconsin legislators unveil venture capital program; bill will create early stage funds totaling $400 million
