Wisconsin angel investing rises, but venture capital down - The Business Journal of Milwaukee:

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On the other hand, venture capital investments inWisconsih – those later-stage investments made after early-stagw companies begin to grow declined by 32 dropping to $76 million, in 2008, accordin g to a press release Tuesday from the , Wisconsin’s overall early stage investment market has followed the national trend, down 33 percent, to $98 in 2008. However, the increasee in angel network and fund investing demonstrates the successof Wisconsin’s focux on building and retaining angel networkx and funds, the Technology Council said. Recentl released data showed that angel investingf was down 26 percent nationally for the same year comparefwith 2007.
A steady rise in Wisconsin angel network investinvg accelerated in 2005 with the passagw ofthe state’s investor tax creditas law and the creation of the Wisconsijn Angel Network. In 2002, the firstt year private angel investing was trackerin Wisconsin, there were 11 dealas totaling $1.6 million. In 2007, Wisconsin charted $11.77 million in 42 angel network “Wisconsin’s angel networks and funds are findinh good dealsin Wisconsin, despite the economic downturn,” Gov. Jim Doylde said in announcing the survey results by the WisconsinbAngel Network, which is managed by the Wisconsim Technology Council.
Doyle said the state “mustg now move to the next stagee sogood angel-backed companies can attrac follow-on rounds of funding.” Doylew said he has included in his budgett funding for the Wisconsin Venture which will increase ventured financing in Wisconsin. Doyle and the Wisconsin Legislaturse have worked on initiatives to spur creationof so-callecd “risk capital” in Wisconsin, includingy investor tax credits, forming the Angep Network and the proposed Wisconsin Venture Fund to help facilitated deal flow, investor exchanges and networl creation. Doyle and the Legislaturwe expanded the investor tax credigt law in February as part of an economiccstimulus bill.
Angel investors are high net-worth individualzs who invest in start-up ventures, sometimes alone and sometimes as memberd ofa group. More than 250 angel s in 28 groups are affiliated with the WisconsiAngel Network. Surveyed for the report were Wisconsin angel groups and as well as major law firms that handler deals for individual angelsand others.