Milwaukee startup accelerator gener8tor LLC is raising a second Minnesota equity fund, according to a new filing the company submitted to the SEC.
gener8tor Minnesota Fund II LLC is listed as a venture capital fund, and is expected to total $1.5 million. The minimum investment accepted from any outside investor is $20,000.
The accelerator’s first Minnesota equity fund, gener8tor Minnesota Fund I LLC, was launched in June 2017 and was also expected to total $1.5 million.
Gener8tor has raised three funds for its Wisconsin programs over the past several years. The most recent, gener8tor Fund III LLC, totaled $1.5 million. The company generally uses these funding rounds to finance the operations and investments of its gener8tor accelerator program.
In return for an equity stake, the nationally-ranked accelerator invests up to $140,000 in each of the high-growth startups that participate in its 12-week gener8tor program.
Gener8tor expanded to Minneapolis in 2016 to offer both its core gener8tor accelerator and its gBETA pre-seed program in that market. And last month, the company launched its first medical technology-focused program, gBETA Medtech, in Minneapolis.
Leaders at gener8tor could not be reached for comment on the new fund.