TitletownTech now has $95 million in assets under management after recently closing on a $70 million fund.
The Green Bay venture capital firm yesterday announced 27 new and existing investors contributed to its second fund, including the Green Bay Packers and Microsoft, which collaborated to launch the firm in 2019.
“More than doubling the size of our first fund demonstrates the trust and confidence our investors have in the strength of our team and portfolio,” Managing Director Craig Dickman said in the release. “With new and existing investors working alongside us, we are uniquely positioned to support founders and portfolio companies.”
TitletownTech is focused on startup companies in the following industry clusters: sports, media, and entertainment; health and wellness; agriculture, water and environment; manufacturing and construction; supply chain and logistics; and other technologies.
The firm says it has invested in more than 30 companies, with the majority of recipients of its initial fund being first-time founders. Plus, more than half of its portfolio companies have gone on to raise more capital, according to yesterday’s release.
Some of its previous investments include computer modeling startup Synthetaic, tabletop role-playing game company Demiplane, a hydroponic farming business called Fork Farms, and the virtual reality sports game company StatusPRO.
In a statement on the new fund closing, Microsoft President and Vice Chair Brad Smith touts the “long legacy of innovation” in Wisconsin and across the Midwest.
“Today, this winning formula is gaining momentum with the new startups, new talent, and another round of funding,” Smith said.
See more in the release: https://www.wisbusiness.com/2023/titletowntech-closes-70m-second-fund-bringing-total-capital-raised-to-95-million/
Listen to an earlier podcast with TitletownTech partner Cordero Barkley: https://www.wisbusiness.com/2022/wisbusiness-the-podcast-with-cordero-barkley-titletowntech/
