Wisconsin companies secured $139 million in venture capital investments across 20 deals in the fourth quarter of 2020, the largest of any quarter that year for the state, boosting total venture capital investments in Wisconsin in a pandemic year.
In total, Wisconsin companies raised $273.1 million across 77 deals in 2020, according to Seattle firm PitchBook, which collects data on venture and private equity deals. In 2019, Wisconsin companies raised $214.5 million across 73 deals, and $443 million in 2018 across 84 deals.
To compare, Illinois companies raised $2.8 billion in 2020; Minnesota companies raised $1.8 billion; Ohio companies raised $1.5 billion; Michigan companies raised $558 million; and Indiana companies raised $318 million.
Nationwide venture investments exceeded $156.2 billion in 2020, the highest ever, per PitchBook, which stated the record number "demonstrates the resilience and long-term mindset of the VC industry at large."
Of the Wisconsin deals in 2020, 37 were by Madison-area companies, amassing $203 million, $112 million coming in the fourth quarter. Twenty-three deals were made by companies located in the Milwaukee-Waukesha-West Allis metro, and eight were in the fourth quarter. The Milwaukee metro accounted for $40 million, and $19.6 million in the fourth quarter.
Meanwhile, venture firms in Wisconsin raised $427 million in 2020, a record high, per PitchBook.
Here's a look back at the largest capital raises by Wisconsin companies Inno reported in 2020.
