State companies raise $163 in early-stage funding in 2012

According to a report from the Wisconsin Angel Network (WAN), 74 state companies raised more than $163 million in early-stage funding in 2012, an increase of 7% over the $153 million raised in 2011.

The largest venture capital deals were struck with CalStar Products of Racine and Cellular Dynamics International of Madison. Wisconsin still lags behind peer states when it comes to receiving its share of venture capital, garnering just one-half of 1% of the total spent nationwide.

In its annual “Wisconsin Portfolio” report, available through the Wisconsin Technology Council, WAN tracks deals made by angel networks, small venture funds, and individual angels or super angel investors. Of note, according to the report: Almost half of all the deals involved an out-of-state or overseas investor.