Winnow Fund secures funding from Wisconsin-based corporations
Addressing frequent criticism that Wisconsin companies don’t support the state’s venture community, the Winnow Fund, a Madison-based, seed-stage venture capital fund, has received investment commitments from three prominent Wisconsin companies and a Madison-based private-equity firm.
Making commitments to be investors in the fund are The Capital Times, Johnsonville Ventures, MGE Energy Inc., and Inventure Capital. The size of their respective investments was not disclosed.
The Winnow Fund will invest in new products coming out of Wisconsin colleges and universities, as well as existing startup companies. It announced its first closing in November with the Badger Fund of Funds as its lead investor.
Since it is part of the Badger Fund of Funds, the Winnow Fund can only deploy its investment dollars in the state of Wisconsin. The aforementioned businesses are investing “because they have confidence in the innovative ideas from local talent,” says Ken Johnson, Wisconsin partner of the Badger Fund of Funds and managing director of Kegonsa Capital Partners.