Wisconsin Gov. Tony Evers addresses a joint session of the state Legislature in the Assembly chambers during his State of the State speech at the state Capitol, Jan. 22, 2019, in Madison, Wis. (AP Photo/Andy Manis, File)
"As the businesses that receive these investments start to grow, the value of the fund will grow with them, creating new opportunities to help even more businesses expand," Evers said.
The federal money comes from the U.S. Treasury's State Small Business Credit Initiative. The Wisconsin fund will be investing in companies working in technology, health care, agriculture, manufacturing, and other areas, the governor's office said.
The first awardees are HealthX Ventures, based in Madison, $15 million; Venture Investors Health Fund, based in Madison and Milwaukee, $12 million; Serra Ventures, based in Champaign, Illinois, $7 million; NVNG Investment Advisors, based in Madison and Milwaukee, $6 million; and Idea Fund of La Crosse, $5 million.
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The state is negotiating with a sixth fund manager for the fund's remaining $5 million allocation.
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