TitletownTech, a venture capital fund co-founded by Microsoft and the National Football League’s (NFL) Green Bay Packers, has secured additional investment from a dozen locally based organisations.
The fund has now reached its target of US$25 million thanks to a fresh injection of capital from Wisconsin-based investors, whose undisclosed investments will be earmarked for high-growth, early-stage businesses in the state.
The Green Bay Press Gazette reports that the 12 investors include AmeriLux International, Baird, Cornerstone Foundation of Northeastern Wisconsin, Dickman Ventures, Green Bay Packaging, N.E.W. Venture Foundry, Plexus, Schreiber, Schneider, Sartori Cheese, The Village Companies and Weyers Investments.
The Packers and Microsoft each committed US$5 million when they originally launched TitletownTech, which is based close to the team’s Lambeau Field, in October 2017.
Other investors in the accelerator programme include Boston Bruins alternative governor Jerry Jacobs Jr. and New York Mets chief operating officer Jeff Wilpon - both of whom sit on the TitletownTech advisory board.
TitletownTech’s investments will be targeted across five business sectors: sports, media and entertainment; digital health; agriculture, water and environment; advanced manufacturing; and supply chain technology.
The fund is headquartered at the Packers' Titletown District, a 45-acre development which also includes an innovation lab for established businesses and is intended accelerate startup growth in Green Bay.
News of the fresh investment in TitletownTech came during the grand opening of the district on Friday, where Microsoft president Brad Smith was in attendance.
"We at Microsoft could not be more excited, we could not be more optimistic and bullish about the great things that will come out of these walls," Smith told WBAY.