Northwestern Mutual and Aurora Health Care are each investing $5m to support local Milwaukee startups through a multiyear funding commitment, business resources and mentorship.
Northwestern Mutual’s Cream City Venture Capital (VC) and Aurora Health Care’s InvestMKE will each have independent investment criteria but will be run in close collaboration to maximize the opportunities for funding, mentorship and technology development.
Cream City VC, led by Northwestern Mutual venture partner Craig Schedler, will provide early stage funding for startups ranging from $100k to $250k. Beyond providing early stage capital, the firm will offer its portfolio of companies access to additional Northwestern Mutual resources, including advisors, mentors, co-working space and technology resources.
Investments will not be focused on a specific industry.
Through InvestMKE, Aurora will co-invest, alongside Cream City VC and other qualified investment professionals, up to $1m in early-stage companies that make health easier, more efficient, and more personalized. In addition to providing investment capital, Aurora plans to link companies with its vast network of health professionals and patient insights that can shape, refine and provide validation efforts for the most promising solutions.
Cream City VC and InvestMKE are backed by Northwestern Mutual’s experience in venture capital and Aurora’s integrated care delivery network. In January 2017, Northwestern Mutual launched Northwestern Mutual Future Ventures, a $50m venture capital fund focused on engaging startups whose technologies have the potential to transform how consumers experience and achieve financial security.