Wisconsin Super Angel Fund

The Wisconsin Super Angel Fund (WSAF) is a Milwaukee-based venture capital firm established in March 2013, designed to bolster the early-stage startup ecosystem within Wisconsin. The fund is managed by Venture Investors LLC, a well-regarded venture capital firm with a long history of investing in the Midwest. WSAF was created through a collaborative effort involving the Wisconsin Economic Development Corporation (WEDC) and the State of Wisconsin Investment Board (SWIB), aiming to provide crucial capital to promising local enterprises.

WSAF primarily targets seed and early-stage, high-growth companies across diverse industries, with a strong emphasis on businesses based in Wisconsin. Its strategic objective is to bridge the funding gap often encountered by startups after initial angel investments but before larger Series A rounds, effectively acting as a critical stepping stone for emerging companies. The fund seeks to identify innovative ventures with significant potential for scalability and job creation within the state.

The fund's capital has been deployed across two distinct vehicles. The initial Wisconsin Super Angel Fund launched in 2013 with a capital commitment of $25 million. Building on its success, a second fund, Wisconsin Super Angel Fund II, was announced in 2019, adding another $20 million to its investment capacity. For its initial investments, WSAF typically writes checks ranging from $250,000 to $500,000, providing essential seed capital. The fund also retains the capacity to make follow-on investments, potentially committing up to $2 million in subsequent rounds to support the continued growth and development of its portfolio companies.