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One of the biggest obstacles to growing start-ups in Wisconsin lies with some of the financiers who provide the money, a Milwaukee venture capitalist said Thursday.

Some angel groups, whose members invest in young, high-potential companies, have been offering terms to start-ups that "de-risk" the deals for themselves but hurt the companies' longer-term prospects, said Brian Taffora, managing director at CSA Partners LLC, a venture capital fund backed by Milwaukee County Executive Chris Abele.