UNDATED (WSAU-Wheeler News) Lieutenant Governor Rebecca Kleefisch says she wants to look into a claim that Wisconsin start-up companies face too many restrictions from early-stage investors.
Milwaukee venture capitalist Brian Taffora told a panel discussion on entrepreneurship yesterday that some “angel” investment groups offer terms to start-up firms that avoid risks for the investors, while hurting long-term prospects for the companies’ success. Taffora manages a venture capital fund supported by Milwaukee County Executive Chris Abele. He says he’s seen promising businesses not get follow-up deals because of what angel groups did to them. He said the practice must stop or else, as he put it, “We’ll continue to be a fly-over state” for venture capital.
The Journal Sentinel said Kleefisch was part of the same panel discussion. It was held in Milwaukee by the Federal Reserve Bank of Chicago and the U-W Madison business school.