Mastercraft Ventures, the eighth venture capital fund supported by the Badger Fund of Funds, has raised $6.2M since it launched in January as a result of its most recent closing. The fund is based in Rock County but invests across Wisconsin, and the Badger Fund will match up to 40% of Mastercraft Ventures’ invested capital.
Mastercraft will target initial investments of approximately $500,000 in startup companies across a broad range of industries, technologies, and products. The fund will aim to be the first investor in startups, addressing a need in Wisconsin for “first in” seed capital.
Wisconsin lagged all neighboring states in 2024 for venture capital per capita, according to the National Venture Capital Association. The state also ranks 46th out of 50 states for the amount of venture capital dollars invested relative to GDP, according to US News.
Mastercraft will register with the Wisconsin Economic Development Corp. to obtain qualified venture fund certification. This designation would allow the fund to offer Wisconsin tax benefits to eligible investors when it invests in Wisconsin-based startups recognized as qualified new business ventures.
