MADISON, Wis. (AP) - Sun Mountain Kegonsa has been approved by Wisconsin state lawmakers to manage the new $25 million state-sponsored venture capital fund.The Legislature's Joint Finance Committee approved the contract as recommended by Gov. Scott Walker's Department of Administration on Tuesday.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 an additional $5 million for the fund.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 it's led by Brian Birk, a former state resident.
WLUK FOX 11 is your source for Balanced News and Severe Weather Coverage for Appleton, Shawano, Sturgeon Bay, Kewaunee, Two Rivers, New London, Bonduel, Pulaski, Suamico, Menasha, Neenah, Shiocton, Ashwaubenon, Algoma, Mishicot and Wrightstown.