Mastercraft Ventures announces the launch of a new Wisconsin venture capital fund, Mastercraft Ventures Fund I.
Based in Beloit, the fund seeks to generate investor return by investing in Wisconsin-based startup companies.
Mastercraft has received a $2.4 million dollar investment from the Badger Fund. Mastercraft is the sixth venture capital fund to have the Badger Fund as its lead investor.
Mason Cook will be the Mastercraft fund manager. Prior to starting Mastercraft, Cook served as president of the software company, RealityBLU. He previously served as the managing director of a startup accelerator, supporting numerous startups with venture capital fundraising. Cook holds an undergraduate degree from Iowa State University and completed the Executive Education in Venture Capital and Private Equity program at Columbia University.
The Badger Fund of Funds has invested $25 million in venture capital funds throughout the state, including Madison, Milwaukee, Neenah, and La Crosse. The addition of Mastercraft Ventures will be the first Badger Fund investment based in Rock County. The Badger Fund has developed a proprietary investment process that has successfully generated a return of investor’s capital in Wisconsin. The Mastercraft Fund will leverage this proprietary investment process.
“With Microsoft investing $3.3 billion dollars in Racine County, and the Hendricks family commitment to growing Beloit, now seemed like the ideal time for a Rock County venture fund focused on Southern Wisconsin,” said Ken Johnson, the Badger Fund managing director. “Mason Cook has spent the past year working with the Badger Fund team to develop the Mastercraft investment strategy.”
In May 2024, Microsoft announced a $3.3 billion investment in Racine County, Wisconsin to spur artificial intelligence innovation and economic growth. This investment includes cloud computing and AI infrastructure, the creation of the country’s first manufacturing-focused AI co-innovation lab, and an AI skilling initiative to equip more than 100,000 residents with essential AI skills by 2030.
“Investments like Microsoft’s in Southern Wisconsin are paving the way for entrepreneurs and investors to collaborate on groundbreaking projects and transformative opportunities,” said Mason Cook.
Mastercraft expects to register with the Wisconsin Economic Development Corporation to obtain qualified venture fund certification. Once obtained, this designation will offer eligible investors Wisconsin tax benefits when the fund invests in Wisconsin-based startups recognized as qualified new business ventures.
Startup companies and other parties interested in learning more about Mastercraft Ventures can visit its website or reach out to Mason Cook at mason@mastercraft.vc.
