Gov. Scott Walker
Press Release

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

By - Aug 28th, 2018 04:07 pm

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.

Mentioned in This Press Release

People:

Recent Press Releases by Gov. Scott Walker

Governor Walker Orders Flags to Half-Staff Honoring Master Sergeant Jonathan Dunbar

Governor Scott Walker ordered flags to half-staff on Saturday, April 14, 2018.

Governor Walker Orders Flags to Half-Staff as a Mark of Respect for Captain Christopher Truman of the Lake Mills Fire Department

Captain Truman died on December 31, 2018, while selflessly assisting a driver of a crashed vehicle on Highway 12 near the Yahara River Bridge in Monona, Wisconsin.

Governor Walker Appoints St. Croix County Judge and Ashland County District Attorney

Governor Scott Walker today appointed Attorney Scott J. Nordstrand to serve as a judge on the St. Croix County Circuit Court and Attorney David Meany to the position of Ashland County District Attorney.

Leave a Reply

You must be an Urban Milwaukee member to leave a comment. Membership, which includes a host of perks, including an ad-free website, tickets to marquee events like Summerfest, the Wisconsin State Fair and the Florentine Opera, a better photo browser and access to members-only, behind-the-scenes tours, starts at $9/month. Learn more.

Join now and cancel anytime.

If you are an existing member, sign-in to leave a comment.

Have questions? Need to report an error? Contact Us