{"id":204136,"date":"2024-05-15T19:00:00","date_gmt":"2024-05-15T19:00:00","guid":{"rendered":"https:\/\/icrowdnewswire.com\/?p=3076856"},"modified":"2024-05-15T19:00:00","modified_gmt":"2024-05-15T19:00:00","slug":"as-venture-capital-markets-contract-the-idea-fund-of-la-crosse-scales-up-raising-over-30-million","status":"publish","type":"post","link":"https:\/\/ipsnews.net\/business\/2024\/05\/15\/as-venture-capital-markets-contract-the-idea-fund-of-la-crosse-scales-up-raising-over-30-million\/","title":{"rendered":"As venture capital markets contract, the Idea Fund of La Crosse scales up, raising over $30 million"},"content":{"rendered":"

\"\"<\/p>\n

New fund will support software startups\u00a0 in Iowa, Minnesota, Wisconsin<\/strong> <\/em><\/p>\n

La Crosse, WI \u2013 May 15, 2024 \u2013 The Idea Fund of La Crosse<\/a> has raised $31.5 million for a second venture capital fund.\u00a0 The fund targets pre- and early-stage revenue startups in the Upper Midwest and invests in diversified end markets such as agriculture, manufacturing, supply chain, and healthcare, industries which are crucial to the region’s employment base.\u00a0<\/p>\n

According to Pitchbook, the new fund \u2013 Idea Fund of La Crosse II, LP \u2013 is one of the three largest venture capital funds ever raised dedicated to investing in the three-state region.\u00a0 The announcement also comes as Pitchbook reports venture capital fundraising has reached its lowest level in a decade.<\/p>\n

\u201cIn a tough market, the new funding allows us to lean in, scaling our offerings and helping our portfolio companies move even faster and farther,\u201d said General Partner Jonathon Horne.\u00a0 \u201cChallenging times can create great companies.\u00a0 With venture markets contracting, supporting our region\u2019s most promising entrepreneurs is now more important than ever.\u201d<\/p>\n

In addition to closing on the fund, the Idea Fund of La Crosse has entered a partnership with Pablo<\/a> Capital<\/a>,<\/a> a private investment syndicate representing a co-founder and early employees of Jamf<\/a>.<\/a>\u00a0 This new partnership aims to leverage the collective expertise and resources of both entities to support the growth of technology startups in the region.<\/p>\n

Jamf was founded in Eau Claire, WI in 2002\u2014in wake of the dotcom bubble.\u00a0 Its 2020 IPO represents the largest ever exit of a tech startup in Iowa, Minnesota or Wisconsin.\u00a0\u00a0<\/p>\n

\u201cThis region has great potential to build a more vibrant startup community and create many more successes. We\u2019re excited to work with the Idea Fund to help make that happen and have more direct connection for founders to potential capital. This partnership will be an incredible value-add to folks looking to build a business in our region,\u201d said Zach Halmstad, Jamf co-founder and partner in Pablo Capital.<\/p>\n

With the closing, Idea Fund has added Elaine Coughlin<\/a> and Garrett Lauderdale<\/a> to the team.\u00a0 Elaine, currently Pablo\u2019s Investment Director, is based in the fund\u2019s new Eau Claire office and is focusing on portfolio company support.\u00a0 Garrett is based in La Crosse and is responsible for sourcing and evaluating new investment opportunities.<\/p>\n

The fund will make initial investments of about $500,000 to $1mm in about 20 startups, with a particular focus on Wisconsin, Minnesota and Iowa.<\/p>\n

The Idea Fund\u2019s investment strategy leverages the region\u2019s deep experience in traditional industries, such as agriculture, manufacturing, supply chain and agriculture. Many of its portfolio company founders bring with them deep industry expertise, which the fund supplements with disciplined analysis and relentless execution.\u00a0\u00a0<\/p>\n

\u201cEmerging technology is enabling companies to serve their customers in ways never thought possible 10 or even 5 years ago.\u00a0 For leaders in our region\u2019s traditional industries, this threatens to reshuffle the deck.\u201d Horne observed.\u00a0 \u201cBy layering sophisticated technical capabilities over our region\u2019s deep industry expertise, we aim to invest in startups creating overwhelming value propositions.\u201d<\/p>\n

The new fund builds on Idea Fund I\u2019s successful track.\u00a0 Fund I investments include Curate<\/a>,<\/a> which exited to Fiscalnote (NYSE: NOTE), Agrograph<\/a>,<\/a> Inc 5000\u2019s 5th fastest growing company in WI, Aaniee<\/a> (formerly Smartcare Software), an award-winning home care software provider, and Quiver Quantitative<\/a>,<\/a> which has been featured on Bloomberg, CNBC and the Financial Times.<\/p>\n

With the close, the Idea Fund is also announcing the new fund\u2019s first investments: Golgix<\/a>,<\/a> Distribution<\/a> Depot<\/a>,<\/a> Lumberjack<\/a> and Hopper Health<\/a>.<\/a><\/p>\n

For more information about the Idea Fund of La Crosse, its investment philosophy, or to inquire about partnership opportunities, please visit www.ideafundvc.com<\/a> or contact Jonathon Horne, jhorne@ideafundvc.com<\/u><\/a>.\u00a0<\/p>\n

About The Idea Fund of La Crosse\u00a0<\/strong><\/p>\n

The Idea Fund of La Crosse is a venture capital firm based in La Crosse, WI, dedicated to investing in and supporting the growth of pre-revenue and early-stage revenue technology companies. The firm focuses on software startups in diversified end markets, reflecting the Upper Midwest’s employment base, aiming to transform innovative ideas into successful businesses. It has invested in 15 portfolio companies and currently manages $45mm on behalf of its limited partners.\u00a0<\/p>\n

Contact Information: Jonathon Horne<\/a>,<\/a> General Partner, jhorne@ideafundvc.com<\/u><\/a>, 608-498-4557, www.ideafundvc.com<\/a>.<\/a><\/p>\n

\n

See Campaign: <\/strong>https:\/\/www.ideafundvc.com<\/a>
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New fund will support software startups\u00a0 in Iowa, Minnesota, Wisconsin La Crosse, WI \u2013 May 15, 2024 \u2013 The Idea Fund of La Crosse has raised $31.5 million for a second venture capital fund.\u00a0 The fund targets pre- and early-stage revenue startups in the Upper Midwest and invests in diversified end markets such as agriculture, [\u2026] Continue Reading →<\/span><\/a><\/p>\n","protected":false},"author":336,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[20],"tags":[],"class_list":["post-204136","post","type-post","status-publish","format-standard","hentry","category-press-release"],"yoast_head":"\nAs venture capital markets contract, the Idea Fund of La Crosse scales up, raising over $30 million - Business<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/ipsnews.net\/business\/2024\/05\/15\/as-venture-capital-markets-contract-the-idea-fund-of-la-crosse-scales-up-raising-over-30-million\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"As venture capital markets contract, the Idea Fund of La Crosse scales up, raising over $30 million - 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