It was not too long ago that a startup in Wisconsin had to go to the coasts to raise money. Over time, our state has seen growth in the venture capital industry, and many of the funds are striving to develop our startup ecosystem by investing in companies founded and headquartered in Wisconsin.
As a result, we are keeping talent and IP in our borders. Here are some Wisconsin-based venture capital funds that are investing in their own backyard.
Capital Midwest Fund
Capital Midwest Fund (CMF) invests in revenue-stage companies in the central region of the United States within the industrial, manufacturing and healthcare markets. In particular, this Mequon-based fund looks for businesses that provide customer-centric, problem-solving and B2B technology solutions, including software, services and products.
CMF has invested in a number of Wisconsin-based startups. Among them is AIQ Solutions, which was born from University of Wisconsin research and involves groundbreaking software using artificial intelligence to track the effectiveness of cancer treatments.
FactoryFix is also in the CMF portfolio. Located in Madison, this startup has become the industry’s largest recruiting and hiring platform that connects manufacturers to skilled workers.
Grey Collar Ventures
Grey Collar Ventures invests in early-stage, Beloit-based startups seeking to disrupt industries and leverage the city’s unique entrepreneurial ecosystem.
As a newer VC, Grey Collar has invested in two companies. Blue Line Battery, founded in Whitewater, designs and manufactures lithium-ion power batteries for a variety of markets, allowing for customers to lower costs and increase safety and efficiency.
The other is Beloit-based RealityBLU, a provider of tools to support augmented reality (AR) design, production and campaign management process of 3D content. According to the company, 1.9 billion people per month will use AR in 2022, and RealityBLU aims to be at the front of this change.
CSA Partners
Headquartered in Milwaukee, CSA Partners, LLC invests in early stage, high growth companies. In particular, the fund seeks entrepreneurs that exemplify and embody the Midwestern values of hard work, authenticity, honesty, integrity and a sense of community.
CSA Partners’ portfolio also includes Milwaukee-based companies Scanalytics Inc., a foot traffic technology and analytics platform, and Bright Cellars, a personalized wine subscription service.
TitletownTech
TitletownTech builds and funds early-stage high-growth businesses in five key areas: sports, media and entertainment, digital health, agriculture, water and environment, advanced manufacturing and supply chain technology.
In TitletownTech’s own backyard in Green Bay is Fork Farms, a startup promoting its patented indoor, vertical agriculture technology to people and communities, allowing them to grow their own fresh, local food.
Another portfolio company is Madison-based Allergy Amulet, which has developed the world’s smallest and fastest food allergen sensor to help people with severe allergies.
WARF Ventures
WARF Ventures provides seed and growth funding to early-stage startups that are commercializing technologies from UW-Madison and the Morgridge Institute for Research. It has invested in more than 40 such companies over the past 20 years. WARF Ventures is actively working with more than 20 portfolio companies covering a wide range of technologies including AI-enabled software platforms, cancer diagnostics, advanced materials for batteries and vaccines.
Among them is Cellectar Biosciences, a biopharmaceutical company focused on research, development and commercialization of drugs for cancer treatment. It went public in 2014 to raise $12.5 million.
