Gov. Evers, WEDC Announce $100 Million Investment in Wisconsin Startups and Entrepreneurs; Serra Among Private Funds Awarded

Gov. Tony Evers, together with Wisconsin Economic Development Corporation (WEDC) Secretary and CEO Missy Hughes, announced a major step forward in supporting Wisconsin entrepreneurs with the launch of the Wisconsin Investment Fund, a public-private venture capital initiative that will initially invest $100 million in startup businesses throughout the state. At an event at Forward BIOLABS in Madison, a nonprofit that has helped launch scores of successful startups, Gov. Evers and Secretary Hughes were joined by officials from five venture capital management firms who will be administering the first round of fund investments. A sixth capital management firm will be announced shortly.

“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. “Over time, we expect the value of this fund to grow exponentially—with a ten-to-one private-public investment ratio. This fund is a win for businesses who will have the support to take their ideas to new heights, and it’s a win for Wisconsin to maintain our position as a competitive leader in business innovation.”

Serra Ventures is very excited to be one of the private funds being included in this initiative. “We are grateful to partner with the Wisconsin Economic Development Corporation to deploy capital to Wisconsin-based startups,” said Tim Hoerr, CEO and managing partner, Serra Ventures. “The state has a long and storied history in ag and food, so it is the perfect fit for Serra Ventures’ new fund. Our team at Serra looks forward to finding and funding the very best Wisconsin companies in the ag and food sector.”

To view the full press release, follow here.