Last updated on July 2nd, 2019 at 09:05 pm
The Idea Fund of La Crosse plans to invest $8 million in 10 to 12 Wisconsin startups over the next several years , the organization announced Tuesday.
The venture capital fund closed its initial fund and said it will begin actively reviewing startup investment opportunities across the state.
“We are extremely excited to begin investing in Wisconsin startup companies,” said Jonathon Horne, managing director of the Idea Fund of La Crosse. “Our fund will help entrepreneurs build and expand their companies, create good jobs and help build Wisconsin’s economy.”
The IFOLC was established in 2016 as an investment vehicle for early-stage companies. It’s limited partners include the Badger Fund of Funds and the Weber family of La Crosse among other investors. The fund is led by Horne, and IFOLC President Libby Spirer.
“The fund is 100 percent managed for return to our investors and will be solely focused on startup companies in Wisconsin or those that would relocate here,” Horne said. “We will look at several sectors for eligible startups, including information technology, health care, engineered products, agriculture, education, and financial services.”