Gov. Scott Walker on Friday proposed a compromise aimed at settling months of wrangling over legislation to boost venture capital investment.
Walker said he wants legislators to create a $100 million "fund of funds," an investment vehicle in which a manager hired by the state would put taxpayers' money into a variety of existing venture capital funds. All of the money from the state would have to be invested in Wisconsin-based businesses.
The most notable part of Walker's proposal is what it does not include: participation by certified capital companies, or CAPCOs. Those controversial out-of-state firms lobbied heavily to be included but have been dogged by criticism over their past handling of state money under a previous venture capital program.
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