Beloit-based venture capital fund
Mastercraft Ventures has raised $6.2 million in funding which will be invested in startups across Wisconsin.
Mastercraft Ventures, led by fund manager
Mason Cook, is the sixth venture capital fund to receive support from the
Badger Fund of Funds. It was
launched in January.
Mastercraft Ventures is industry-agnostic and will make investments in startups across the state, with an emphasis on counties along the southern border.
“Wisconsin has great potential to grow startups in emerging fields like AI and automation, especially in sectors where the state already excels—such as advanced manufacturing, food tech, logistics, health care, and ag tech,” said Cook. “We are eager to help build startups in these areas and more that create value for both our investors and the community.”
Cook will lead Mastercraft Ventures with an investment committee made up of individuals with experience in starting, scaling, and selling companies.
Mastercraft will target initial investments of approximately $500,000 in startup companies across a broad range of industries, technologies, and products. The fund will aim to be the first investor in startups.
“A Badger Fund focus is addressing the Wisconsin need for first in investors for new entrepreneurs,” said
Ken Johnson, partner of the Badger Fund. “Typically, a VC fund will continue to fundraise to their target fund size after holding a close like this, and the Badger Fund will invest an additional 40 cents for every 60 cents raised by Mastercraft.”
In 2012, the state awarded the Badger Fund its first $25 million. The fund then raised another $10 million from the private sector. From there, the Badger Fund created five more venture capital funds across the state, including
Gateway Capital Fund, the
Winnow Fund,
Rock River Capital Partners, the
Idea Fund of La Crosse and the
Winnebago Seed Fund.
Mastercraft expects to register with the
Wisconsin Economic Development Corp. to obtain qualified venture fund certification. This designation would allow the fund to offer Wisconsin tax benefits to eligible investors when it invests in Wisconsin-based startups recognized as qualified new business ventures.
More articles about Mastercraft Ventures:
