Venture capital data reports show growth in Wisconsin

Several recent year-end reports showed growth in venture capital investment for Wisconsin companies in 2014, including a large jump in the number of state health care companies that were able to close deals during the year.

Wisconsin companies raised $86.8 million in venture capital in 2014, a small portion of the more than $48 billion raised across the U.S., according to survey data from the MoneyTree Report by PricewaterhouseCoopers LLP and the National Venture Capital Association. 

Twenty-eight Wisconsin companies raised money in 2014, the highest number of state companies to land investment in more than two decades, according to the Milwaukee Journal Sentinel. Eighteen companies received investment in 2013.

Blake, whose previous experience includes working at Epic Systems in Verona and also a number of years as a web journalist and political reporter at the Chicago Tribune, will continue to support the Wisconsin Angel Network until his replacement is identified. If you are interested in learning more about WAN or HealthX Ventures, Blake can be reached here or at dblake@wisconsinangelnetwork.com.

The Wisconsin Technology Council unveiled its "2015 White Papers" report this week, offering policy recommendations to the State Legislature and the Governor's Office on programs that can better Wisconsin's technology and innovation economy.

The publication, which was created in consultation with the non-profit's 50-plus member board of directors that represent different sectors and parts of the state, will be distributed to state policymakers and other state leaders next week. For those interested in the publication, keep your eye on the Tech Council's website where the publication can be downloaded soon.

A manager of the Wisconsin Super Angel Fund, a $9 million fund based in Milwaukee, said the state's largest city has a growing number of startups worthy of funding, but raising money for both funds and companies can still be challenging in what he sees as a risk-averse environment.

"I can't tell you how hard it is to raise money," WSAF General Partner Tom Schuster told a recent Wisconsin Innovation Network meeting in Wauwatosa. "It's not only hard to gather the funds, it's hard to make a deal."

The fund has invested in six companies in Milwaukee, Madison and central Wisconsin, which cover sectors ranging from software to battery technology, and from machine tools to cranberries.

Angels: 100% exclusion of gains now law for 2014 investments

The recent passage of the Tax Increase Prevention Act included a 100 percent exemption for gains made in Qualified Small Business Stock, a benefit Wisconsin angel investors may be able to apply to some of their investments, depending on criteria and limitations.

The Angel Capital Association posted more detail on the new law on the ACA's Angel Insights blog here.

Madison health-tech firm raises $5.7 million

Forward Health Group, a health data software management company based in Madison, recently announced that it had closed a $5.7 million round, led by Triple Tree Ventures, a venture fund based in Minnesota. Other investors included Madison angel group, Wisconsin Investment Partners, and BrightStar Wisconsin Foundation, a venture philanthropy fund.

FHG was also recently designated a "High Performing" vendor in a new report by KLAS, a leading health care research company. Read more about the company here.

BrightStar invests $1 million into 5 more startups

Entry deadline for Governor's Biz Plan Contest

www.govsbizplancontest.com

5 p.m. Jan. 31

WIN-Milwaukee

UWM Innovation Accelerator, Wauwatosa

Feb. 12

Wisconsin Tech Summit
GE Healthcare Institute, Waukesha
March 23 (more details to come at www.wistechsummit.com)