Governor Evers Announces $100M Investment Fund for Wisconsin Startups, Starting with Cardamom Health

May 30, 2024Cardamom Health 

MADISON —​ Gov. Tony Evers, together with Wisconsin Economic Development Corporation (WEDC) Secretary and CEO Missy Hughes, today announced a major step forward in supporting Wisconsin entrepreneurs with the launch of the Wisconsin Investment Fund, a public-private venture capital initiative that will initially invest $100 million in startup businesses throughout the state. At an event at Forward BIOLABS in Madison, a nonprofit that has helped launch scores of successful startups, Gov. Evers and Secretary Hughes were joined by officials from five venture capital management firms who will be administering the first round of fund investments. A sixth capital management firm will be announced shortly.

“The Wisconsin Investment Fund will be the biggest public-private investment in Wisconsin startups and entrepreneurs in our state’s history, and as the businesses that receive these investments start to grow, the value of the fund will grow with them, creating new opportunities to help even more businesses expand,” said Gov. Evers. “Over time, we expect the value of this fund to grow exponentially—with a ten-to-one private-public investment ratio. This fund is a win for businesses who will have the support to take their ideas to new heights, and it’s a win for Wisconsin to maintain our position as a competitive leader in business innovation.”...

This original article appeared on Wisconsin Economic Development.

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In an additional article....

As the leader of a health startup, Vivek Swaminathan knows access to capital is critical. 

Swaminathan leads Cardamom Health, a Madison-based firm that specializes in data analytics and improving health care outcomes. 

“Oftentimes we’re trying to make decisions when we can finally afford to make them instead of when it’s really right for our business,” he said.

Cardamom Health will be one of the first firms to receive money from the Wisconsin Investment Fund, a public-private initiative launched Wednesday in Madison. 

“We’re using this money to help grow our team, to add folks not only who are experts in their field or in the technology, but also folks who may not have the ability to get into healthcare IT otherwise,” he said...

This original article appeared on Wisconsin Public Radio.

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