gener8tor raising second Minnesota fund

Expected to total $1.5 million

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Milwaukee startup accelerator gener8tor LLC is raising a second Minnesota equity fund, according to a new filing the company submitted to the SEC.

gener8tor co-founder Joe Kirgues welcomes attendees to the company’s Premiere Night in November 2017.

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.

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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.

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Leaders at gener8tor could not be reached for comment on the new fund.

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