Equity League, the capital investment network created through a partnership between the Green Bay Packers, Milwaukee Brewers, Milwaukee Bucks and Microsoft Corp., will have a physical presence in Milwaukee and create opportunities for Wisconsin companies owned by Black and Brown entrepreneurs to have their services and products woven into larger supply chains.
The network will be headquartered in Green Bay as an investment division of TitletownTech, the Green Bay-based tech hub and $25 million venture capital fund created by the Packers and Microsoft, and will target Black and LatinX-founded startups and social impact startups that are in revenue-generating mode, but also in the pre-revenue, ideation stage.
Checks from funds in the network will range from $100,000 to $1 million, and possibly more, and will invest in companies not only in Wisconsin, but across the nation, said Israel Squires, director of the Equity League.
The network could announce its first investment deals as soon as January, Squires said. The network will also deploy proof-of-concept grants that will replace "friends and family" funding that isn't typically available to underrepresented founders, Squires said.
Equity League is finalizing an office space in Milwaukee and is also hiring a Minority Venture Fellow, which would give a person of color an opportunity to gain experience in the finance and capital investment industry, Squires said.
"We're looking at these inequities that exist and trying to play our role and be a catalyst," Squires said. "In forming an investment and connected capital model, we believe it's going to provide us with the most flexibility to make a long-term, generational impact. That's what this is about."
The dollar amount of the overall investment from the three teams and Microsoft was not disclosed.
“The Equity League at TitletownTech is a meaningful step to help Black and LatinX founders get access to capital and support to grow their startups into thriving businesses," said Brad Smith, president of Microsoft, in a statement. "We are delighted to continue our support of TitletownTech through this unique partnership that brings together sports, business, and community leaders. As an organization, we are committed to driving positive social change and using technology to open more doors of access and opportunity.”
The investment network will focus on tech startups in various sectors including, but not limited to, education, financial tech, digital inclusion, health equality, urban innovation and criminal justice reform. Squires said there could be some technology that "fits within the ecosystem of the sports word."
"We're more focused on technology that fits within the ecosystem of the community space and the impact sector," said Squires, who previously led Politiscope, a Madison and New Jersey-based company that developed a smartphone app that allows users to stay up to date on political activity. Former NFL receiver Walter Powell Jr. created the idea for the app along with his brother Brandon Williams, who also played in the NFL and at the University of Wisconsin-Madison.
Squires hopes Equity League can grow a portfolio similar to the size of TitletownTech, which has invested in more than 20 companies across the U.S. in just over a year of being launched. Two companies that have received investment from TitletownTech have since relocated to Green Bay.
"The ultimate goal is bringing tech companies here, bring founders here, helping the talent and genius that exists in Wisconsin and being a catalyst to growth for that," Squires said. "It's not just the Wisconsin play. We want to make an impact across the country."
