TitletownTech – Wisconsin Venture Capital Association

Where Sports and Venture Capital Intersect

Athletes are no strangers to the world of venture capital. Across the country, we have seen the likes of Serena Williams, Kevin Durant and Joe Montana make investments.

Wisconsin has seen its share of VC involvement in the world of sports. Most recently, former Milwaukee Bucks guard Michael Redd teamed up with a lawyer to form TwentyTwo. It provides angel investments and mentorship but has not yet provided details on its first fund. Redd also is available as a guest speaker.

A Potential Funding Source for Startups

Although Wisconsin has seen an increase in venture capital over the past 10 years, we are still lacking compared to our neighbors. For instance, Wisconsin-based companies raised $273.1 million in 2020, which is only a fraction of the $2.8 billion raised in Illinois and the $1.8 billion raised in Minnesota, and just half of the $558 million raised in Michigan last year.

The relatively low amount raised by Wisconsin companies was not because of a lack of effort, or even a lack of startups. Instead, it’s a lack of available funding.

Investing Locally in Wisconsin

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.

A Look at Artificial Intelligence in Wisconsin

Artificial intelligence (AI) is changing the way people do business and their business models, too. In 2019, AI startups received $28.5 billion in funding across more than 2,300 deals, according to CBInsights. Businesses are using AI to improve customer services, analyze data, predict performance and more.

How Wisconsin Helps Startups Grow and Succeed: Accelerators and Incubators

Wisconsin has been achieving records in terms of startup funding, according to the most recent report by the Madison-based Wisconsin Technology Council. In 2019 alone, Wisconsin tech companies raised more than $454 million, the most amount of capital raised by state companies. Forty-three percent of companies raised at least $1 million, but larger deals from NorthStar Medical Radioisotopes, Redox and SHINE Medical Technologies raised upwards of $75 million, $36.1 million and $132 million, respectively.