Non-profit health system Advocate Aurora Health has become a limited partner in a $75m healthcare-focused fund raised by venture capital firm Venture Investors, according to Crain’s Detroit Business.
Wisconsin Alumni Research Foundation (Warf), the commercialisation arm of University of Wisconsin-Madison, has also backed the vehicle, as has State of Wisconsin Investment Fund.
Venture Investors launched its first fund in 1982 and now has $275m under management. The latest vehicle will depart from its predecessors by solely focusing on healthcare, rather than also blending in technology investments.
James Adox, managing director of Venture Investors since 2007, is executive managing director of the fund. Venture Investors is based in Wisconsin and had already attracted both Warf and State of Wisconsin Investment Fund to earlier vehicles.
Warf reportedly joined Venture Investors’ fourth $69m early-stage fund in 2006, investing with insurers Century Insurance, American Family Insurance, Sentry Insurance and WEA Insurance, and financial services firms US Bank, Northwestern Mutual and Thrivent Financial.
State of Wisconsin Investment Board and Briggs and Stratton Pension Fund both also provided capital for the 2006 fund.
The original version of this article appeared on our sister site, Global University Venturing.