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News & Press: Legislative Memos to the Capitol

Request for Qualifications Released for Venture Capital Investment Fund

Monday, September 9, 2013   (0 Comments)
Posted by: Megan Purtell
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Office of the Secretary
Post Office Box 7864
Madison, WI 53707-7864
Voice (608) 266-1741

September 9, 2013
For Immediate Release
Contact: DOA Communications, 608-266-7362

Today, the Department of Administration (DOA) released the Request for Qualifications (RFQ) to select a qualified fund manager for the recently enacted venture capital program. The venture capital investment program will help create jobs and promote economic growth in Wisconsin by identifying new investors for Wisconsin, bringing new capital to Wisconsin investments, and cultivating Wisconsin entrepreneurship.

"Today, we are taking another step toward creating a meaningful venture capital program in our state,” said DOA Secretary Mike Huebsch. "Ultimately, this venture capital program will help small businesses attract the resources they need to expand, as well as provide additional opportunities for emerging entrepreneurs. I would like to thank Governor Walker and members of the Legislature who supported creating this economic development tool.”

All RFQ proposals are due October 17, 2013. The five-member venture capital review committee will evaluate proposals and select a qualified fund of funds manager for the venture capital investment program. The goal is to select a fund manager before the end of 2013. The contract for the fund manager will be approved by the Joint Finance Committee and Legislative Audit Bureau.

The RFQ is available on the DOA website.


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