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Business plans for venture capital
The Wisconsin venture capital market may get a $50 million boost as a result of a new investment initiative by the State of Wisconsin Investment Board (SWIB).
SWIB said Wednesday that it trustees gave the preliminary approval to allocate additional money for two new venture capital funds proposed by Mason Wells and Venture Investors. SWIB will allocate up to $50 million total to be invested between Mason Wells Biomedical Fund II and Venture Investors Early Stage Fund IV, funds that are now being established by the two Wisconsin-based venture capital firms.
Several additional steps in SWIB's investment review process must be completed before the investment decision receives final approval. If approved, the investments will be part of the Wisconsin private equity portfolio.
The strategy for the proposed funds will focus on opportunities in Wisconsin and the Midwest. SWIB currently has investments in existing funds of each firm.
The investment strategy for both funds is focused on seed and early stage financing and is expected to capitalize on the life science opportunities coming out of Wisconsin universities and medical research facilities, said Monica Jaehnig, Wisconsin private equity portfolio manager.
SWIB manages nearly $78 billion in assets which includes the $73 billion WRS for more than 520,000 public employees.
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