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Viewpoints: New Wisconsin Investment Fund will be noticed beyond state borders

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Viewpoints: New Wisconsin Investment Fund will be noticed beyond state borders







Tom Still

Among the first news outlets to pick up on the recent unveiling of the $100 million Wisconsin Investment Fund were two outside of the state – the Seattle Post-Intelligencer in Washington state and U.S. News & World Report. Both ran an Associated Press story on the news within hours.

As I mentioned to those who gathered at Madison’s Forward BIOLABS for the announcement by Gov. Tony Evers and others, that’s a big reason why the public-private fund is not an end in the state’s journey to build a more vibrant technology economy, but a new and significant beginning.

Like 49 other states, Wisconsin received money through the U.S. Treasury’s State Small Business Credit Initiative, which was authorized by the American Rescue Plan Act. Each state was free to tailor its program to a large degree, and Wisconsin chose to put nearly two-thirds of its allotment into a fund that would require private venture capital firms to match the SSBCI money, dollar-for-dollar.

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The result is the biggest single public-private venture capital initiative in Wisconsin’s history, and a breakthrough that builds on what came before it.

Fourteen venture firms bid with the Wisconsin Economic Development Corp. to be a part of the program and five have been selected so far; a sixth private fund participant is pending. The first five, with a total of $45 million in state commitments, are:

  • HealthX Ventures, Madison, $15 million. HealthX invests largely in the digital health sector but also in other health care innovations.
  • Venture Investors LLC, Madison, $12 million. Venture Investors invests primarily in health care innovation, such as therapeutics, medical devices, health IT and diagnostics.
  • Serra Ventures, Champaign, Ill., $7 million. Serra Ventures invests nationally, especially in the agriculture and food technology space. Some past Serra investments have been in Wisconsin companies.
  • NVNG, Madison, $6 million. NVNG (short for “nothing ventured, nothing gained”) invests broadly in Wisconsin tech sectors including health.
  • Idea Fund of La Crosse, $5 million. Part of the Badger Fund of Funds network, the Idea Fund of La Crosse invests broadly in the Upper Midwest in sectors such as information technology, health IT, data analytics, supply chain, agriculture, manufacturing and financial services.

The mix reflects the overall goal of the fund, which is to build on existing and emerging technology startups, but also to move beyond the traditional research hubs to find companies and entrepreneurs in underserved places.

That’s one reason why Serra Ventures is in the mix, because it’s familiar with spotting strong deals in the agriculture and food tech space (24 current portfolio companies) and has plenty of sales or other “exits” to demonstrate market knowledge.

Another focus will be bio-health, which has long been a Wisconsin tech strength in regions such as Madison and Milwaukee, but increasingly in cities such as Eau Claire. Last year, the U.S. Economic Development Agency recognized Wisconsin as a “regional technology hub” for personalized medicine and related technologies. That could make the state eligible for up to $75 million in federal funding to accelerate growth.

While the announcement was made by Democrat Evers, it’s worth noting that Wisconsin’s efforts to build a stronger tech-based economy have been bipartisan for decades.

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The enactment of investor tax credits in 2005 was led by the late state Sen. Ted Kanavas, R-Brookfield, and then-Commerce Secretary Cory Nettles, an appointee of Democratic Gov. Jim Doyle. The creation of the Badger Fund of Funds in 2013 came during the tenure of then-Gov. Scott Walker with help from both sides of the aisle in the Legislature. Changes to both the investor tax credit program (Qualified New Business Venture credits, also administered through WEDC) and the Badger fund in recent years have also required bipartisan agreement.

Within the Legislature itself, the bipartisan and informal Tech Caucus has both Republican and Democratic leaders and members, further demonstrating that economic growth need not be a partisan squabble.

The $100 million Wisconsin Investment Fund comes with no guarantees, as most young companies fail in time. Those that succeed, however, often do so on a scale that spreads prosperity well beyond company walls. Investors outside Wisconsin will notice this initiative – and perhaps bring their own expertise and money to bear.

Tom Still is president of the Wisconsin Technology Council.



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Wisconsin Loses Second Bid to Block Tax Exemption in Spat With Catholic Charity

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Wisconsin Loses Second Bid to Block Tax Exemption in Spat With Catholic Charity


The Wisconsin state government lost decisively a second time in what has become a convoluted effort to block a Catholic charity from receiving a long-running state tax exemption.

The Wisconsin Supreme Court on Dec. 15 blocked state Attorney General Josh Kaul’s attempt to fully eliminate an unemployment tax exemption after the U.S. Supreme Court ruled that the Diocese of Superior’s Catholic Charities Bureau was entitled to the tax break.

The U.S. Supreme Court in June had ruled that Wisconsin violated the First Amendment when it denied the tax exemption to the Catholic group on the grounds that the group’s charitable undertakings were not “primarily” religious.

The state responded in October by moving to eliminate the exemption entirely, arguing that the tax break is “discriminatory” and that ending the policy would “avoid collateral damage to Wisconsin workers.”

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In a brief order on Dec. 15, the state’s high court affirmed that the U.S. Supreme Court ruling allows the Catholic charity to access the tax break. The court directed the state Labor and Industry Review Commission to declare the charity eligible for the exemption. 

The religious liberty law group Becket, which has represented the Catholic charity in the legal fight, said in a press release that the Wisconsin Supreme Court had ended the state government’s “crusade” against the Catholic charity. 

“You’d think Wisconsin would take a 9-0 Supreme Court loss as a hint to stop digging,” Becket Vice President Eric Rassbach said. “But apparently Attorney General Kaul and his staff are gluttons for punishment.” 

“Thankfully, the Wisconsin Supreme Court put an end to the state’s tomfoolery and confirmed that Catholic Charities is entitled to the exemption it already won,” Rassbach said. 

The ruling “protects not just Catholic Charities, but every faith-based organization that relies on this exemption to serve the public,” he added. 

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In its June ruling, the U.S. Supreme Court said the First Amendment “mandates government neutrality between religions” and that Wisconsin had failed to adhere to this principle in refusing to issue the tax exemption to Catholic Charities. 

“It is fundamental to our constitutional order that the government maintain ‘neutrality between religion and religion,’” Justice Sonia Sotomayor wrote in the decision. “There may be hard calls to make in policing that rule, but this is not one.”

Justice Clarence Thomas, meanwhile, said that governments “may not use [entities such as a Catholic charity] as a means of regulating the internal governance of religious institutions.”

Following the ruling this week, David Earleywine — the associate director for education and religious liberty at the Wisconsin Catholic Conference — said the Catholic charity has been fighting for the exemption for “decades.”

“[T]rue Catholic charity is inherently religious and cannot be reduced to another secular social service,” he said.

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Insider: Wisconsin Man Charged With Possession Of Virtual Child Pornography

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Insider: Wisconsin Man Charged With Possession Of Virtual Child Pornography


POLK COUNTY (DrydenWire) – An investigation by the Wisconsin Department of Justice, Division of Criminal Investigation, into multiple cybertips from Google about suspected child sexual abuse materials has resulted in felony charges for a Wisconsin Man.

Cody Struemke, age 27, of Amery, WI, is facing nearly a dozen charges for possessing child pornography, including Felony Possession of Virtual Child Pornography.

The criminal complaint against him alleges that Struemke saved a photo from Facebook of juveniles known to him, and digitally edited the photo to make it appear they were nude.

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Last Update: Dec 16, 2025 9:27 am CST





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Wisconsin health professionals share tips to protect against respiratory illnesses

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Wisconsin health professionals share tips to protect against respiratory illnesses


MADISON, Wis. (WMTV) -Respiratory illness season has begun in Wisconsin, with health professionals reporting increased flu cases and higher demand for medications and vaccines.

Over-the-counter medicines are flying off the shelves at Forward Pharmacy in McFarland, according to manager Tony Peterangelo.

“We’ve had to increase like how much of some of that stuff we’ve kept on hand,” Peterangelo said. “We had to make some special orders to really bulk up on some of it too.”

Forward Pharmacy manager Tony Peterangelo filling prescriptions as the respiratory illness season begins.(WMTV/Camberyn Kelley)

Upland Hills physician Benjamin Hecht said the respiratory illness season typically begins after Thanksgiving.

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“As of right now, we are just starting in the last week or two to see some Influenza A. Last year was a pretty tough flu year for us, influenza in Wisconsin. It’s still to be seen how severe of a year this is going to be in 2025-26,” he said.

Respiratory viruses are hard to avoid according to the Upland Hills physician.

“You can wear masks and wash your hands a ton, but you’re going to get exposed to these viruses at some point,” Dr. Hecht said.

RSV poses concern for young children

Dr. Hecht said another concern this season is RSV, particularly for young children with developing immune systems.

“The kids that get this, especially the really young kids, that don’t have a mature immune system, they can get pretty sick from RSV. That’s a particularly scary one. If you’re in a position where you qualify to get that vaccination or perhaps your kids do, please consider that,” Dr. Hecht said.

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Forward Pharmacy is meeting demand for vaccines, which Peterangelo said can help protect against viruses.

“All of that stuff reduces the need to scramble on the back end to get antibiotics and cough suppressants. It doesn’t completely reduce your risk, but it reduces it enough that your likelihood of getting that is down,” Peterangelo said.

Forward Pharmacy is meeting demand for vaccines, which Peterangelo said can help protect...
Forward Pharmacy is meeting demand for vaccines, which Peterangelo said can help protect against viruses.(WMTV/Camberyn Kelley)

The pharmacy has given out dozens of flu and covid shots in a day.

“I would say maybe in the 60 to 80 range,” Peterangelo said.

Dr. Hecht said influenza B will come later in the season. He recommends people with severe respiratory symptoms like breathing troubles to see a doctor.

“The big thing is just living a healthy lifestyle, staying well hydrated, getting good sleep, doing what you can with physical activity and exercise to make sure your immune system is in tip top shape,” Dr. Hecht said.

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According to new CDC data, doctor visits for flu-like symptoms rose to more than 3% in the last two weeks. The majority of flu cases are caused by a mutated strain that causes more severe illness, particularly among older adults.

Click here to download the WMTV15 News app or our WMTV15 First Alert weather app.



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