Angel, venture capital markets in Wisconsin enjoying robust market, report says

Start-up and companies with high growth potential based in Wisconsin have attracted more angel and venture capital in the first nine months of 2010 than the totals of 2008 and 2009, according to a new report released by the Wisconsin Angel Network. The agency’s “Wisconsin Portfolio” tracks early state investment in the state.

So far this year, Wisconsin-based companies have attracted more than $125 million in angel and venture financing.

In 2009, total early-stage investing was $73.2 million, according to the report. There was about $99 million in angel and venture capital invested in the state in 2008.

“Wisconsin’s early stage investing numbers, especially in deals involving angel networks, continue to rise at a time when other states and regions are continuing to struggle,” said Lorrie Keating Heinemann, secretary of the state Department of Financial Institutions and chairwoman of the Wisconsin Angel Network’s advisory committee. “It demonstrates that Wisconsin is doing a lot of things right – from the growth of its angel networks to its investor tax credits to the simple fact it has the entrepreneurial talent needed to grow successful companies.”

The $125 million in angel and venture capital attracted in 2010 so far includes some large deals such as Virent Energy Systems’ $46.4 million funding round and Cellular Dynamics Inc. which landed a $40.6 million equity infusion.

More detail about Wisconsin’s risk capital market is available in the 2010 Wisconsin Portfolio, which is published by WAN, the Wisconsin Technology Council and the Wisconsin Department of Financial Institutions.

The Portfolio is available for download at www.tinyurl.com/2010WisPort. To purchase copies of the 12-page magazine, contact Gina Leahy at (608) 442-7557 or gleahy@wisconsintechnologycouncil.com.

 

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