Foxconn Bonus Continues: New $100 Million Wisconn Valley Venture Fund Created to Drive Innovation in Wisconsin
Advocate Aurora Health, Foxconn, Johnson Controls, Northwestern Mutual partner to advance innovative technology through $100 million venture capital fund
MILWAUKEE – Governor Scott Walker today joined company leaders from Advocate Aurora Health, Foxconn, Johnson Controls, and Northwestern Mutual to announce a new $100 million venture capital fund to target innovations in health care, technology, manufacturing, and financial services. The Wisconn Valley Venture Fund will create innovation and strategic business development throughout Wisconsin, with each organization contributing $25 million to the fund. Today’s news comes on the heels of Foxconn’s $100 million gift to the University of Wisconsin – Madison to establish a research partnership.
“This is yet another example of the Foxconn Bonus, and this is only the beginning,” Governor Walker said. “The fund represents a collaboration of four outstanding companies in Wisconsin that are committed to helping our state become a global technology hub. Thank you to Advocate Aurora Health, Foxconn, Johnson Controls, and Northwestern Mutual for stepping up to drive innovation and for making an investment in the future of our state.”
Foxconn’s investment in Wisconsin acted as a catalyst for these four companies to come together to create the Wisconn Valley Venture Fund which will be used to invest in early-stage companies who will create innovate solutions and ideas within health care, technology, manufacturing and financial services. In addition, this fund will be a launch pad for attracting and retaining businesses and top talent in Wisconsin while simultaneously helping Wisconsin become a new global hub for technology.
Each of the four companies will have representation on the fund’s investment committee. The committee will be charged with selecting a fund manager who will lead the day-to-day investments for the fund. Further details about the fund are expected after the manager of the fund has been selected.
NOTE: This press release was submitted to Urban Milwaukee and was not written by an Urban Milwaukee writer. While it is believed to be reliable, Urban Milwaukee does not guarantee its accuracy or completeness.
More about the Foxconn Facility
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- Biden Hails ‘Transformative’ Microsoft Project in Mount Pleasant - Sophie Bolich - May 8th, 2024
- Microsoft’s Wisconsin Data Center Now A $3.3 Billion Project - Jeramey Jannene - May 8th, 2024
- We Energies Will Spend $335 Million on Microsoft Development - Evan Casey - Mar 6th, 2024
- Foxconn Will Get State Subsidy For 2022 - Joe Schulz - Dec 11th, 2023
- Mount Pleasant Approves Microsoft Deal on Foxconn Land - Evan Casey - Nov 28th, 2023
- Mount Pleasant Deal With Microsoft Has No Public Subsidies - Evan Casey - Nov 14th, 2023
- Microsoft, State Announce Massive Data Center Expansion, Land Purchase - Joe Schulz - Nov 11th, 2023
- Gov. Evers Announces Microsoft Makes Major Investment in Wisconsin - Gov. Tony Evers - Nov 10th, 2023
- State Can’t Regulate We Energies $100 Million Project for Microsoft - Joe Schulz - Sep 20th, 2023
Read more about Foxconn Facility here
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