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You are here: Home / Business / Venture capital fund focuses on tech firms

Venture capital fund focuses on tech firms

March 20, 2013 By WRN Contributor

Computer technology firms might find it easier to get started in Wisconsin, thanks to a new $30 million venture capital fund announced this week.

The boards that run the State Retirement Fund and the Wisconsin Alumni Research Foundation at the UW-Madison are providing money for the new effort called “4490 Ventures.” The name refers to Wisconsin’s latitude-and-longitude coordinates.

Some experts say a lack of venture capital for new companies is one reason Wisconsin is lagging behind the rest of the country in job creation. Governor Scott Walker’s proposed state budget includes $25 million for a separate venture capital effort.

Officials of the State Investment Board and the UW Foundation say their project has nothing to do with politics, and everything to do with getting a return on their investments. SWIB executive director Michael Williamson says the fund will build upon the partners’ previous success with start-ups in a variety of industries.

The fund will invest primarily in new IT companies in Wisconsin, although other Midwest start-ups will also be considered. Williamson says “previous experience has proven that early stage investments can play a valuable role by diversifying our portfolio.”

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Filed Under: Business, News



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