\ A new $10 million venture capital fund, raised from 75 investors in 18 NE WI counties, will provide up to $1 million in early-stage venture funding for about a dozen WI businesses over the next five years. The fund, called NEW Capital Fund L.P., will be managed by a five-member investment board. It is one of the first organizations certified under a new venture bill, which gives investors a state income tax credit for equity investments in such funds. More info on Angel Investor Networks in WI can be found at www.wisconsinangelnetwork.com.
WI is on the cutting edge of a trend I see of more investments in regional venture capital and angel investor networks in rural America. Being able to leverage these investments with state income tax credits only enhances the investments and provides badly needed capital for the entrepreneurial spirit percolating up in the agurbs®. Doing the investing from a regional rather than local standpoint also makes sense and helps to diversify the risks. What are you doing to facilitate entrepreneurial activity in your town?