Startup investment bill signed into law
I am proud my bill that improves an existing investment program related to startup companies was signed into law earlier this week.
Established in 2015, the Badger Fund of Funds is a public/private partnership that functions as the lead investor in five venture capital funds administered by first-time fund managers who are located geographically across the state.
Wisconsin Act 98 makes several modifications to the Badger Fund, with the most significant one requiring that all proceeds from state business investments are reinvested back into the program. I am confident this will allow for the Badger Fund to continue to grow and become self-sustainable without additional public dollars.
Prior to the passage of the most recent biennial budget, the Badger Fund totaled $32.6 million, with $25 million from the state, $7.1 million from private investors and $500,000 from the fund manager. With 100 percent of the program’s capital being committed to portfolio funds, the 2023-25 state budget allocated an additional $25 million to continue investing in Wisconsin-based businesses.
Wisconsin has many of the ingredients necessary to build a vibrant innovation-based economy: world-class education institutions, a well-funded pension program, a robust state government system, world-renowned research facilities and large corporations.
However, neighboring states are investing in their startups at much higher levels, and our rate remains much lower than what it should be. Act 98 will change that by putting startup companies in a better position to utilize the Badger Fund in the most efficient way possible.
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Start up bill
Based on studying the history of PPP's (Public Privae Partnerships) I instinctively grab for my wallet and hold on tight, for I know that some politician, some bureaucrat, some business person wants what I have earned. Want to help business generally? Reduce regulation to an absolute minimum let us keep most of what we earn so we may save, invest and spend as we see fit, thus stimulating the economy in a sustainable way, without the heavy hand of government weighing in on one side or another. Government should be a referee, enforcing the rules, NOT an active participant. ALWAYS there will be those politically connected who benefit at the expense of the rest of us.
Want to invest in businss? I suggest the PAT fund or in my case, the Ken fund. Leave government out of it, and DO NOT create more bureaucracies, that are likely to be filled with self-interested leftist voters, in the long run if not the short.
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