New partners join TitletownTech venture fund

Posted on Apr 23, 2019 :: Insight on Business, Web Exclusive
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Posted by of Insight Publications

The future of TitletownTech is clearer after a series of announcements made Tuesday by the Green Bay Packers and Titletown Development.

TitletownTech’s venture fund added two national investors, the center’s entrepreneur-in-residence was named and Delaware North announced plans to open a new entertainment and restaurant facility.

Jerry Jacobs Jr., Delaware North co-CEO and an alternate governor for the Boston Bruins, and Jeff Wilpon, partner of Sterling Project Development, Sterling Equities and chief operating officer of the New York Mets, became two new out-of-state investors in the TitletownTech Venture Fund.

“This is a great day. We have three pro teams from three different leagues plus Microsoft involved in this venture fund,” Packers President Mark Murphy said during a press conference in TitletownTech’s lobby.

The Packers and Microsoft launched the fund in 2017, contributing $5 million each. Ed Policy, chief operating officer and general counsel for the Packers, said the fund’s total is approaching $25 million. Two new TitletownTech programs — an innovation lab and a venture studio — also will open in June.

“The venture fund will invest in sustainable and scalable businesses,” he said. “This isn’t just about money — although money is great — it’s about starting a pipeline of funds from elsewhere into Green Bay and creating connections between what’s here and what’s happening in Boston, New York and Silicon Valley.”

Both Jacobs and Wilpon have ties to the Packers and Titletown Development. Jacobs’ Delaware North is the exclusive beverage and food provider at Lambeau Field, while Wilpon’s Sterling Project Development has worked on the Titletown development.

At the press conference, Murphy also announced Delaware North will open an 11,000-square-foot interactive entertainment venue and restaurant on the first floor of the TitletownTech building. The yet-to-be-named eatery, which is expected to open in August, will feature Topgolf Suites and other high-tech simulation bays.

TitletownTech Managing Director Craig Dickman announced Aaron Kennedy, the founder of Noodles & Co., will serve as the center’s University of Wisconsin-Green Bay Entrepreneur in Residence. Kennedy, who earned his master’s in business administration from UW-Madison, was named Entrepreneur of the Year by Ernst & Young. He will work to advance early-stage ventures and entrepreneurial opportunities in the region and connect the UW System to TitletownTech.

Cordero Barkley, who earned his bachelor’s and master’s degrees from UW-Green Bay, is also joining the TitletownTech management team as director of finance and investments. He worked in banking and wealth management at Associated Bank and Wells Fargo before joining TitletownTech.

The two-story, 46,000-square-foot TitletownTech building will have offices and space for TitletownTech operations and Titletown Development, the real estate development arm of the Packers.