A newly formed network of angel investors organized as Milwaukee Venture Partners has invested in Madison-based Immuto Scientific, Inc. and Cincinnati-based Akru.co – marking its first investments since launching earlier this year.
MVP consists of several veteran investors who were previously with Silicon Pastures, a network of angel investors based in Milwaukee. MVP looks to invest in early-stage companies with emerging technologies in blockchain and artificial intelligence located in the Midwest.
Blockchain company Akru.co developed a platform that “tokenizes commercial real estate properties,” allowing investors a chance to purchase a portion of a commercial real estate property for as little as $1,000, according to a press release.
The company uses its proprietary technology to divide properties into equal pieces, offering them for sale with digital securities or “tokens,” which represent ownership, according to Akru.co.
In addition to MVP, Akru.co’s $2 million fundraise included investment from Draper Goren Holm, a fintech venture studio based in California.
“Akru.Co is taking an illiquid asset and making it easy to invest,” MVP member Charles Truitt said in a statement. “The key behind the tokens is a tangible asset.”
MVP also invested an undisclosed amount in Immuto Scientific, a contract research organization that provides analytical research services for drug discovery.
Immuto Scientific’s mission is to enable the discovery of lifesaving therapeutics against undruggable targets to treat diseases such as cancer, according to the company. The biotech company’s patented technology, Plasma-Induced Modification of Biomolecules, helps understand how effectively a drug binds to its target to improve the effectiveness of the drug.
MVP was created in 2021 to provide investment capital, strategic advice and mentoring to early-stage companies. The new network is led by founding managing director Karen Plunkett while its members consist of several former Silicon Pasture investors including Teresa Esser, Silicon Pastures founder.