In the venture capital arena, Wisconsin has long been a laggard.
Despite some growth in its venture capital pool during the last 25 years, Wisconsin still ranked just 25th among all states in 2010, with $234 million under management, according to the National Venture Capital Association's Yearbook 2011.
Wisconsin ranks 20th in population, U.S. Census Bureau data shows.
The state's dearth of venture capital has stifled the growth of many young companies, said John Neis, a managing director of Madison's Venture Investors, one of Wisconsin's most active venture capital firms.
"We have so many companies that stall out in their development process or raise inadequate capital and put themselves at a competitive disadvantage because they can't go as quickly as their competitors can," Neis said.
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