When lawmakers on the Republican-controlled Joint Finance Committee began the process of retooling Gov. Tony Evers’ budget, one item that survived was a $100 million venture capital “fund of funds.”
The proposal by Evers, a Democrat, has the support of eight former secretaries of the Wisconsin Economic Development Corp. and the former state Department of Commerce. The group includes five appointed by Republican governors and three by Democratic governors.
The venture capital fund “would allow Wisconsin entrepreneurs to secure needed next-step financing from in-state sources so they don’t have to look to, or move to, the coasts for capital, WEDC Secretary and CEO Missy Hughes said in a statement.
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