According to Tech Council Investor Networks Director Joe Kremer, the number and size of deals in Wisconsin may be lower this year based on early investment figures for 2023, WisBusiness reports. Kremer, who spoke yesterday during a Wisconsin Technology Council luncheon in Madison, cited data captured in an annual report called the Wisconsin Portfolio — a compilation of annual early-stage financing activity tracked by the group’s Investor Networks program.
The total figure so far for 2023 is under $200 million raised, as compared to $870 million in 2021 and $640 million in 2022. Year-end totals ranged between roughly $209 million and $484 million from 2015–2020. While the year is far from over, the information so far looks less than promising.
The Tech Council has only identified 40 investments for this year. Numbers at the end of 2022 and 2021 were 107 and 140, respectively. Kremer noted a lack of mega deals as well. Tech Council President Tom Still, however, added that Wisconsin historically sees investment deals rise in the fourth quarter.
