There's a new pot of gold in
Wisconsin: New Capital Fund. This venture capital in Wisconsin is
a welcome addition with 75 investors. It will target 12 early stage
businesses over the next five years, providing up to $1 million to each of
them.
Most of the investors in New Capital Fund
live and work in northern Wisconsin. They have assigned management
duties of the venture capital fund to New Capital Management Inc.
New Capital Fund is one of the first
organizations in Wisconsin to be certified as a Qualified Venture Fund under
Wisconsin's Act 255. The certification allows investors to receive
state income tax credits for equity investments in qualified new business
ventures.
New Capital Fund, venture capital in
Wisconsin, is part of an area wide focus on business development in that area
called "New North".
New North Inc. is a coalition of business, government, education and
community leaders from 18 counties: Outagamie, Winnebago, Calumet, Waupaca,
Brown, Shawano, Oconto, Marinette, Door, Kewaunee, Sheboygan, Manitowoc, Fond
du Lac, Green Lake, Marquette, Florence, Menominee, and Waushara.
"Building on the resources and success we have in the New North is an
important component to our success as a region," Bob DeKoch, co-chair of
New North Inc., said in a statement. "This fund will help provide the
muscle to move business plans forward, with the ultimate goal of growing
economic development for our region."
Venture capital has not been particularly
attracted to Wisconsin in the past. The area never seemed to garner the
scientific or economic clout that normally captures the eyes of the big
pocketbook people.
Perhaps New Capital Fund and the New North
is just what the economist ordered to put this area back on track.
