Last updated on April 29th, 2020 at 03:21 pm
Venture capital fund Bold Coast Capital Fund I, L.P. has raised approximately $6 million, according to a recent U.S. Securities and Exchange Commission filing.
A total of 12 investors invested $6,025,000 in a first round of funding, which has a total offering amount of up to $15 million, according to the filing.
The fund, managed by angel investor Ross Leinweber, was formed as part of the Badger Fund of Funds program, which works to establish new venture capital funds across the state for the purpose of investing in Wisconsin startups.
The Milwaukee based-VC fund focuses on funding early-stage companies in Milwaukee, Madison, Chicago and the Fox Valley.
Leinweber has established an investment committee, which includes Brian Birk, founder of Sun Mountain Capital and a Badger Fund partner; Beth Donley, chief executive officer of Madison-based Stemina; Greg Borca, co-founder and owner of Menomonee Falls-based Skygen USA; Ezra Galston, founder and venture capitalist at The Starting Line; and William Caraher, chief information officer and director of operations at Milwaukee-based von Briesen & Roper S.C.
The state of Wisconsin awarded $25 million in 2013 to establish the fund of Funds, which raised another $10 million from the private sector and agreed to create six to eight venture capital firms across the state.
Bold Coast Capital was the fourth Badger Fund of Funds to be created in Wisconsin with the help of Birk and Ken Johnson, founder of Stoughton-based Kegonsa Capital Partners LLC and a partner in the Badger Fund.
The fund managers selected so far have formed the Idea Fund of La Crosse, Winnebago Seed Fund LP in Neenah, Rock River Capital Partners Fund I in Madison, the Winnow Fund in Madison and Milwaukee-based Forward Capital Fund.