60
      Wednesday
      70 / 51
      Thursday
      74 / 49
      Friday
      80 / 53

      Budget panel to approve venture capital manager

      The Wisconsin State Capitol is seen, Oct. 1, 2013.
      The Wisconsin State Capitol is seen, Oct. 1, 2013.
      MADISON (AP) - The Legislature's budget committee is slated to vote on approving Sun Mountain Kegonsa as the manager of the new state-sponsored venture capital fund.

      The Joint Finance Committee scheduled a Tuesday vote on the recommendation from Gov. Scott Walker's Department of Administration.

      Sun Mountain Kegonsa is a partnership formed by Sun Mountain Capital of Santa Fe, New Mexico, and Kegonsa Capital Partners of Fitchburg, Wisconsin. Sun Mountain Capital has Wisconsin ties, as its led by Brian Birk, a former state resident.

      The state will contribute $25 million toward the fund that will be available to help startup business and capital investment projects. Sun Mountain Kegonsa is required to come up with at least $5 million for the fund.