University of Wisconsin-Madison has become a limited partner in a $75m healthcare fund launched by Venture Investors.
Wisconsin Alumni Research Foundation (Warf), the commercialisation arm of University of Wisconsin-Madison, has become a limited partner in a $75m healthcare-focused fund raised by venture capital firm Venture Investors, according to Crain’s Detroit Business.
Other investors in the vehicle include nonprofit health system Advocate Aurora Health and the State of Wisconsin Investment Fund.
Venture Investors launched its initial fund in 1982 and now has $275m under management. However the latest vehicle will depart from its predecessors by solely focusing on healthcare, rather than also blending in technology investments.
James Adox, managing director of Venture Investors since 2007, will act as executive managing director of the fund.
Venture Investors is based in Wisconsin and had already attracted both Warf and State of Wisconsin Investment Fund with its earlier vehicles.
Although full details could not be ascertained, Warf reportedly joined Venture Investors’ fourth $69m early-stage fund in 2006, investing alongside insurers Century Insurance, American Family Insurance, Sentry Insurance and WEA Insurance as well as financial services firms US Bank, Northwestern Mutual and Thrivent Financial.
State of Wisconsin Investment Board and Briggs and Stratton Pension Fund both also invested in that fund.
