Local News
Venture capital launches in La Crosse
Badger Fund of Funds commits $25 million to area
With $25 million, there could be some big new business investment occurring in La Crosse soon.
La Crosse will receive seed money in that amount from the state-supported Badger Fund of Funds. The program’s first venture capital will be called the Idea Fund of La Crosse and will be managed locally.
The plan is to invest in startups across a variety of industries.
La Crosse was apparently selected for the first fund because it is seen as a “strong innovative environment.”
Along with the $25 million, private investment money is being raised, as well.
The Idea Fund will be managed by Jonathon Horne, a La Crosse native who previously worked in investment banking at J.P. Morgan in New York, according to the Milwaukee Journal Sentinel. He was recommended by community leaders in La Crosse, said Ken Johnson, a Badger Fund partner.
The Idea Fund needs to raise at least $8 million, while the Badger Fund commits a matching investment of 40 percent, Johnson told the Sentinel.