State budget expands Badger Fund venture capital program by $25 million

Dana Guthrie, Gateway Capital Partners - 
Kenny Yoo/MBJ

The Wisconsin program that helped Milwaukee’s Dana Guthrie and other first-time venture capital fund managers in the state get their start received another $25 million under the 2023-’25 budget Wisconsin Gov. Tony Evers signed Wednesday, doubling the state’s total investment in the fund.

Evers allocated the money to the Badger Fund of Funds venture capital program under the state’s Department of Administration and stipulated that it would be evergreen, meaning returns generated through the fund could be reinvested in Wisconsin entrepreneurs.

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