On May 29, Wisconsin Governor Tony Evers and Missy Hughes, secretary and CEO of the Wisconsin Economic Development Corporation (WEDC) announced that NVNG will be a part of the Wisconsin Investment Fund.
The fund is a public-private venture capital fund that will invest at least $100 million in startup businesses throughout the state.
NVNG will be receiving $6 million for direct investment into Wisconsin startups, and we’ll match that with co-investment dollars from our existing Fund I. The fund is targeting significant support for diverse businesses and companies located in underserved areas of investment.
The opportunity to make these direct investments into Wisconsin startups is a natural extension of the work NVNG is already doing to support the Wisconsin ecosystem. In addition to funding, NVNG is looking forward to helping Wisconsin entrepreneurs expand their network by facilitating introductions between startups and the venture funds and corporate investors that are part of the NVNG network.
In a press release announcing the Wisconsin Investment Fund, Hughes said, “Wisconsin has always been a leader in bringing great, innovative ideas to the world. To make those ideas a reality and drive our state’s economy forward, innovators need capital. This public-private effort puts a stake in the ground that Wisconsin is committed to entrepreneurship and innovation.”
“The Wisconsin Investment Fund will be the biggest public-private investment in Wisconsin startups and entrepreneurs in our state’s history, and as the businesses that receive these investments start to grow, the value of the fund will grow with them, creating new opportunities to help even more businesses expand,” said Gov. Evers.
NVNG’s Carrie Thome added, “WEDC’s Wisconsin Investment Fund aligns very well with our vision of making Wisconsin’s entrepreneurial ecosystem globally competitive and we’re looking forward to making meaningful investments in promising startups across the state.”
NVNG is one of five private fund partners receiving investment as part of the Wisconsin Investment Fund. A sixth fund is currently negotiating with WEDC.
Wisconsin-based startups interested in more information about NVNG’s investment approach should watch for additional detail or contact us.
