Advocate Aurora Health, Foxconn Technology Group, Johnson Controls and Northwestern Mutual have joined forces to create a new $100m fund based in Milwaukee.
The Wisconn Valley Venture Fund is an early-stage venture capital fund which will invest both nationally and globally, targeting transformative and interdisciplinary innovations in health care, technology, manufacturing and financial services.
The new vehicle will engage with its portfolio companies to create innovation and strategic business development.
Each organization will contribute $25m to the fund, will have representation on the investment committee and will play an integral role in the selection of an experienced venture capital fund manager to lead day-to-day management.
Based in Milwaukee, the fund manager will lead investment origination, evaluation, closing and ongoing portfolio company support.
The founders are:
– Advocate Aurora Health, which operates 27 hospitals and more than 500 sites of care throughout Wisconsin and Illinois, serving more than 2 million patients each year,
– Johnson Controls, which is a global diversified technology and multi-industry leader that creates intelligent buildings and efficient energy solutions,
– Northwestern Mutual, a financial security company, and
– Foxconn Technology Group, a global leader in manufacturing services for the computer, communication, and consumer electronics (3C) industry.
FinSMEs
29/08/2018