The Wisconsin Alumni Research Foundation and the State of Wisconsin Investment Board created a fund to invest in information technology start-up companies, focusing mainly in Wisconsin.
WARF and SWIB established the fund with a $30 million contribution to invest in Wisconsin companies that feature technologies including data storage, data management, hardware, software and mobile technology security. The fund also aims to establish IT companies that require between $500,000 and $2 million, according to a university release.
Additionally, a portion of the technology companies’ profits will return to SWIB and WARF, thereby also to the University of Wisconsin-Madison since WARF gives a portion of its proceeds to support scientific research at the university.
The fund is named 4490 Ventures, which is a reference to the 44 degrees north latitude and 90 degrees west longitude that corresponds to the approximate center of the state.
