Now Investing in Wisconsin Startups
Beloit, Wisconsin – Mastercraft Ventures has completed fundraising for its inaugural $11.5 million venture capital fund. The fund is now actively seeking Wisconsin startups looking for their initial investor.
Mastercraft Ventures is the eighth fund supported by the Badger Fund of Funds and the fourth focused on being the “first in” investor. The four Badger-backed, first-in venture capital funds—Idea Fund I, Winnebago Seed Fund I, Winnow Fund I, and Gateway Capital I—have invested in 45 Wisconsin startups since 2017, with average annual employee compensation of $101,200 across those companies.
Mastercraft is already meeting founders statewide, with a focus on Southern Wisconsin, though the fund is not limited by geography or industry. The fund will invest across technologies and sectors, with emphasis on Wisconsin’s key sectors, such as advanced manufacturing, logistics, food technology, agriculture, and healthcare.
“Many founders in Wisconsin struggle to raise their initial capital,” said Mason Cook, Managing Director of Mastercraft Ventures. “A $500,000 lead check from an in-state venture fund—sometimes before revenue or even a prototype—can dramatically accelerate a startup’s trajectory. Very few funds invest at this stage. That’s the gap we intend to fill.”
Before founding Mastercraft, Cook served as president of a venture-backed software company and as managing director of a startup accelerator.
New company formation plays a major role in Wisconsin’s economy. Young firms create most of the state’s net new jobs, and innovation-driven industries often pay 20% to 40% higher wages than the state median. Regions with higher startup activity also tend to demonstrate stronger wage growth and greater resilience during economic downturns. Mastercraft aims to expand these benefits by increasing the supply of first in capital across Wisconsin.
“Opening the door for new entrepreneurs, especially those outside major Wisconsin metro areas, is a priority for the Badger Fund. Entrepreneurs are in all geographies and demographics” said Ken Johnson, Partner at the Badger Fund of Funds. “The Southern Wisconsin geography was underserved; Mastercraft Ventures is well-positioned to invest there.”
“Our vision is simple: generate returns by investing in our community,” Cook said.
