Tom Still: VC fund of funds idea could have new life as a separate bill | Economic news

It is also true that some legislators have wondered about the administration of the fund. Others have questioned where the state would get the pump priming money, although it is now predicted that the state will reach June 30, 2023, with a final balance of $ 1.7 billion. Others questioned whether it was a state prerogative to adopt such a program, although there are many precedents for doing so.

In his interview on the podcast, which is sponsored by the Wisconsin State Journal and posted on madison.com, Evers added a wrinkle that wasn’t in the mix before. He suggested that the state verify whether federal money through the American Rescue Plan Act can be used in other programs for small businesses, freeing up state dollars for a one-time investment in a fund of funds. .

“We’re trying to use some of our federal money …” We’re going to make it happen. “

Federal COVID relief dollars are used for a range of priorities nationwide and in Wisconsin, including Main Street businesses, agriculture, tourism, lodging, the arts and more. If federal money can free up other sources of income, it makes sense to consider investing in an asset class – venture capital and angel investors – that has consistently performed well over time while producing innovative businesses and well-paying jobs.


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