An affiliate of Milwaukee-based Robert W. Baird & Co. Inc.
is raising a $185 million venture capital fund, according to a new SEC filing.
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Robert W. Baird & Co. Inc.'s headquarters is in the U.S. Bank Center in downtown Milwaukee.[/caption]
Baird Venture Partners V LP is raising the capital for private equity use, according to the filing. The total offering amount is aggregated with BVP V Special Affiliates LP and BVP V Affiliates Fund LP. The first sale had not yet occurred as of the Dec. 27 filing.
Baird Venture Partners is the U.S. venture capital fund of Baird Capital
, Robert W. Baird’s direct investment division. It invests in early-stage and expansion-stage companies in the health care, technology and services, and industrial solutions sectors. Since 1989, Baird Capital has invested in about 300 companies, including Milwaukee-based Alpha Source Inc., Brookfield-based Pinstripe Inc., Madison-based TomoTherapy Inc. and Madison-based Promega Corp.
Baird Capital in 2017 closed on a $310 million Global Fund
, to invest in companies in the U.S., U.K. and Asia. In 2016, the Global Fund invested an undisclosed amount in Baltimore-based digital marketing agency R2Integrated and in 2017, it made an undisclosed investment in London-based aviation and aerospace ice protection and drag reduction firm CAV Ice Protection Ltd. and CAV Advanced Technologies Ltd.
Baird Venture Partners in 2014 raised $150 million under Baird Venture Partners IV LP, according to an SEC filing.
Baird Capital representatives did not respond to requests for comment about the new fund.