More than $483 million was raised by Wisconsin’s early-stage companies in 2020, according to a Wisconsin Technology Council (WTC) report, The Wisconsin Portfolio, a record for any calendar year but still not on par with other Midwest states. An analysis by the WTC and its Tech Council Investor Networks showed 110 angel and venture capital deals and four crowdfunded deals, down from 121 total deals in 2019.
However, Wisconsin lagged states such as Michigan, Minnesota, Ohio, Illinois, Indiana, and Missouri. Michigan recorded $3.1 billion in investments, for example, and is now the nation’s fastest-growing venture capital state in percentage terms over the five years beginning in 2016. Illinois, Minnesota, and Ohio were each billion-dollar-plus investment hubs in 2020, along with Michigan. Over the five years beginning in 2016, Wisconsin early-stage companies have raised nearly $1.75 billion. There were $276.2 million in early-stage investments in 2016, $231 million in 2017, $300.7 million in 2018, $454.4 million in 2019, and $483.7 million in 2020.
