The managing director of Wisconsin's biggest venture capital firm called for state legislators to separate controversial certified capital companies - or CAPCOs - from a proposed venture capital bill to give it a better chance of passing in the next few weeks.
Citing "a lot of resistance" to CAPCOs, John Neis, of Madison-based Venture Investors, suggested focusing what little time remains in this session on passing a "fund of funds" approach, in which the state would hire a manager to invest in a variety of venture capital funds.
"It's my personal belief that if we're going to get something passed, it's going to be a fund of funds, not a CAPCO," Neis said at a lunch Thursday at the University Club in Milwaukee sponsored by the University of Wisconsin-Milwaukee business school.
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