About this programme
The Wisconsin Investment Fund is a venture capital pool for Wisconsin startups, seeded with $50 million from the federal State Small Business Credit Initiative (SSBCI) under the American Recovery Plan Act of 2021. Wisconsin Economic Development Corporation (WEDC) administers the fund.
Private venture capital firms match WEDC's capital at least 1:1, bringing the total available capital to roughly $100 million. WEDC says it expects the fund to draw in more than ten times its initial investment in follow-on private capital over the next decade.
How it works
WEDC does not invest directly in companies. Instead, it places capital with four venture partners, who make the actual investment decisions and take equity stakes on WEDC's behalf. WEDC pays the venture firms an annual management fee.
The four managing venture partners are HealthX Ventures (Madison, digital healthcare), Venture Investors (Madison/Ann Arbor, biomedical), Serra Ventures (Champaign, IL, agriculture-focused technology) and NVNG Ventures (Madison, general technology).
The process runs in four steps: research the fund managers' focus areas, contact the one that fits your company directly, go through their evaluation, and if selected, receive funding in exchange for an equity stake. Review to funding can take at least six months.
Who can apply
The fund targets seed and early-stage Wisconsin venture companies. WEDC's page does not detail formal eligibility restrictions beyond this; each venture partner applies its own investment criteria within its sector focus.
No fee is charged to entrepreneurs for the evaluation.
How to apply
- Review the four venture partners' profiles and sector focus areas to find the one that fits your company.
- Contact your chosen venture partner directly (not WEDC) to start the process.
- Go through that partner's evaluation, which can take at least six months from review to funding if selected.
- If selected, the venture partner invests in your company and takes an equity stake.
Frequently asked
Do I apply to WEDC for this funding?
No. You contact one of the four managing venture partners directly; they run the evaluation and make the investment decision.
How much capital is in the fund?
WEDC seeded it with $50 million from SSBCI, matched at least 1:1 by the venture partners, for roughly $100 million total available capital.
How long does the process take?
WEDC says the process from review to funding can take at least six months if your company is chosen for investment.
Does it cost anything to be evaluated?
No. WEDC states no fee is charged to entrepreneurs for the evaluation.
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All 5 programmes in Wisconsin →
Reviewed 2026-09-25. Programmes change, so check eligibility, amounts and deadlines on the official page before you apply. CapEasy is a private firm and is not part of any government body.