Milwaukee- and Madison-based startup accelerator gener8tor
is raising up to $15 million from investors, according to a new SEC filing.
[caption id="attachment_334986" align="alignright" width="376"]
gener8tor startups at Premiere Night 2017 at the Milwaukee Art Museum.[/caption]
gener8tor Fund VII LLC is seeking the venture capital funding for the equity investments the company makes in startups that participate in its eponymous program. In return for an equity stake, the nationally-ranked accelerator invests up to $90,000 in each of the high-growth startups that participate in its 12-week gener8tor program. It hosts three cohorts per year, one each in Milwaukee, Madison and Minnesota, each of which has five startup participants. gener8tor also hosts The Brandery accelerator in Cincinnati, which invests $100,000 in each participating startup.
The gALPHA and gBETA programs gener8tor hosts in several Midwest cities throughout the year do not include investments, and are funded through customer revenue.
gener8tor also began raising $1.5 million
for its Minnesota Fund II in April.
Joe Kirgues, co-founder of gener8tor, declined to comment on the new funding round.