help support the recipient funds, according to the proposal. That’s on top of the $25 million the state of Wisconsin has already committed to the program.
While Winnebago Seed Fund and The Idea Fund are the only recipient “seed” funds that have been unveiled so far, the fund-of-funds proposal calls for creating four more, as well as two larger, “early-stage” recipient funds that would each manage $20 million. According to the proposal, the six as-yet-unannounced recipient funds would need to be created within two years of the Badger Fund’s final closing. Johnson says that close could happen as soon as next month.
Sun Mountain Kegonsa is currently on track to hit all of the benchmarks outlined in the proposal, Johnson says.
The group is currently conducting “due diligence” on three candidates who could potentially be offered the chance to manage new recipient funds, he says.
