Badger Fund of Funds
Investing in the next generation of Wisconsin venture capital managers.
Objectives
The Badger Fund® objectives are:
- Investment Focus
- Be the first $500,000 investment in a new Wisconsin startup.
- Geographic Diversity
- Establish venture capital funds throughout the state of Wisconsin.
- Human Capital
- Develop the next generation of Wisconsin venture capital managers.
Investment segments
The Badger Fund investment strategy is to invest in three segments:
- Next Generation First Time Funds
- Next Generation Follow-on Funds, and
- Existing Wisconsin Funds.
The Badger Fund of Funds only invests in venture capital funds headquartered in Wisconsin, and State of Wisconsin capital is matched by capital from other sources as required by Section 16.295, Wisconsin Statutes.
To implement the Fund’s objectives, the Badger Fund developed proprietary support programs resulting in the establishment of seven new venture capital funds managed by next generation fund managers headquartered in Wisconsin. The Badger Fund has made investment commitments to thirteen venture capital funds headquartered in Wisconsin, nine of these funds have completed raising matching capital and are investing in startups.
The Badger Fund of Funds General Partner managing member is Badger Fund Partners Holding Corporation. The Badger Fund Partners Holding Corporation is a non-stock, for-profit corporation with a board of directors.
Proceeds from the State of Wisconsin distributions are reinvested in venture funds headquartered in Wisconsin in accordance with 2023 Wisconsin Act 98.
The Badger Fund of Funds is an investor in each underlying Badger Fund. The Badger Fund of Funds does not make investment decisions in, or set investment terms, for startup companies; those decisions are made by the managers of each underlying Badger Fund.
The Badger Fund of Funds is neither accepting nor seeking any additional investors. The Fund is closed and is evergreen.
Growing the Wisconsin venture capital ecosystem.
