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There's a chicken-and-egg aspect to the debate over how to stimulate angel and venture capital in Wisconsin, best captured by the question: What comes first, the strong company deals or the investors with dollars to support them?

Two recent reports suggest the answer is resoundingly "both."

The "egg" of emerging high-growth companies is becoming more evident in Wisconsin, where 2012 data collected by the Wisconsin Angel Network and state government showed rising numbers of young companies in the pipeline.