What Wisconsin Investment Partners does

Wisconsin Investment Partners (WIP) is a Madison, Wisconsin-based angel investment group founded in 2000 by Dick Leazer and Terry Sivesind to address the seed and early-stage capital gap in the regional Midwest entrepreneurial ecosystem. WIP operates a membership network of more than 100 accredited investors, deploys $3.5–$4.0 million of equity capital annually into startups, and has invested in 75+ companies across 20+ years with 40+ currently active portfolio positions. The organization is consistently ranked among the top 10 most active angel groups in the United States per the Halo Report.

WIP operates a dual-sided, member-driven model. Entrepreneurs apply through the Venture360 platform and are filtered through monthly screening meetings before being invited to bi-monthly General Membership meetings, where the full membership evaluates and decides whether to participate individually in a given round. Each deal is structured through a dedicated LLC, and individual member investment tickets range from $5,000 to over $100,000 per round, with no required minimum — investment decisions remain decentralized across the membership. Governance rests on five co-managers (Brad Bodden, Andrea Dlugos, Matt Kelly, Michael Thorson, and Bob Wood) backed by an advisory board of operating executives, scientists, and former founders. Revenue combines undisclosed initiation and recurring membership fees with passive returns from portfolio exits, and the group does not raise third-party capital or market investment opportunities publicly.

Its operational footprint is regional — centered on Madison and the broader Midwest — though a 2026 partnership with G2C Venture Partners and Wisconsin Investment Management Company to fund the Third Coast Foundry workspace in San Francisco signals selective geographic outreach. WIP holds affiliation with the Angel Capital Association and the Wisconsin Angel Network, and runs the WIP Associate Program (WIPAP) to develop next-generation angel investors. Core products are therefore investment services, business incubation/member mentorship, and a structured screening infrastructure rather than any proprietary software.

Name

Wisconsin Investment Partners

Legal name

Wisconsin Investment Partners

Website

https://wisinvpartners.com

Company type

Private

Founded year

2000

Operating status

Operating

Headcount range

11–50 employees

Short description

Wisconsin Investment Partners is a Madison-based angel investment group founded in 2000, connecting 100+ accredited investor members with seed and early-stage startups and deploying $3.5–$4.0 million of equity capital annually through a member-driven screening and meeting process.

Ownership category

akta.pro rank

Product category

Angel Investment Services

NAICS

Portfolio Management and Investment Advice (52394), Miscellaneous Intermediation (523910)

SIC

Services-Membership Organizations (8600)

akta.pro primary industry

Early-Stage Venture Capital (Pre-Seed/Seed) (FSANAAAA)

akta.pro secondary industry

Accelerators & Incubators (Investor-Operated) (FSANAAAM)

Keywords

• Angel investment group
• Seed-stage funding
• Early-stage venture capital
• Startup incubation
• Accredited investor network

Headquarters

HQ city

Madison

HQ country

United States

HQ region

North America

Offices1 record

Markets served

GTM type

B2B

Offering type

Services

Cost components

Personnel, Operations, Marketing or Sales, Others

Revenue model

1. Investment Returns: WIP generates returns through equity investments in early-stage companies. Members invest individually via LLC structures specific to each company. Returns are realized through portfolio company exits including acquisitions, IPOs, and secondary sales.
2. Membership Fees: WIP charges initiation fees and ongoing membership fees to accredited investors who join the network. Individual member investments range from $5,000 to over $100,000 per investment round.

Pricing tiers

Go-to-market motion2 records

Distribution channels1 record

Marketing channels5 records

Core offering

Wisconsin Investment Partners provides seed and early-stage angel capital to startup companies in Wisconsin and the broader Midwest by aggregating investment decisions from a network of over 100 accredited investor members. Members evaluate entrepreneur applications submitted through the Venture360 platform at monthly screening meetings and bi-monthly General Membership meetings, with individual member investments ranging from $5,000 to over $100,000 per round. WIP also provides business incubation support through mentorship, due diligence, and portfolio company guidance.

Product overview

Wisconsin Investment Partners (WIP) is a leading angel investor and business incubator that provides investment services and mentorship to early-stage companies. Founded in 2000, WIP operates as an angel investment group with over 100 member investors who evaluate and fund startup companies. The organization holds monthly screening meetings and general meetings where entrepreneurs present their business proposals. Individual member investments range from $5,000 to over $100,000 per round, with $3.5-$4.0 million invested annually. WIP also runs the WIP Associate Program (WIPAP) to mentor early career professionals in startup investing. The organization does not offer a traditional software product but rather provides investment capital, due diligence services, and networking support to its portfolio companies.

Differentiator

Problem solved

Functional benefit

Products and services

• Angel Investment Services Seed and early-stage equity investments ranging from $5,000 to over $100,000 per round sourced from a network of 100+ accredited investor members who individually decide whether to invest in startups presented through monthly screening and bi-monthly General Membership meetings.
• Business Incubation Mentorship, networking, and structured support for early-stage portfolio companies including deal screening, post-investment evaluation, and operator mentoring by experienced co-managers and member investors.
• WIP Associate Program (WIPAP) A separate associate-tier program for early-career professionals with interest in startups and investing, providing participation in deal screening, evaluation committees, and mentorship of high-value startups as a feeder pipeline to full WIP membership.

Quantifiable outcome

• $3.5-$4.0 Million invested annually
• +2 more outcomes

Named customers10 records

Segments3 records

Ideal customer profiles2 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

AI capability6 records

Partnerships

Nine partnerships are on record, tiered core and minor.

• Nucleus RadioPharmacoreStrategic or Co-development Partner · 16 November 2023SHINE Technologies and Nucleus RadioPharma announced a long-term supply agreement for radioligand cancer treatments. SHINE is the largest producer of lutetium-177 in North America.
• IOCB Prague (Institute of Organic Chemistry and Biochemistry)coreStrategic or Co-development Partner · 21 January 2020SHINE entered an agreement with IOCB Prague for exclusive access to their novel Lu-177 separation technology. IOCB and Nuclear Physics Institute in Czechia collaborated with SHINE to produce patient dose quantities of Lu-177 delivered to GE Healthcare.
• GE HealthcarecoreChannel Partner/ Reseller/ Distributor · 21 January 2020GE Healthcare has supply agreements with SHINE for Mo-99 and received patient dose quantities of Lu-177. SHINE's Mo-99 demonstrated as drop-in replacement for reactor-based Mo-99 with help from Argonne National Laboratory.
• Angel Capital Association (ACA)coreOthersWIP is a member of the Angel Capital Association, the industry organization for angel investors providing best practices, networking, and industry standards.
• Wisconsin Angel NetworkcoreOthersWIP is affiliated with the Wisconsin Angel Network, which sponsors events and provides resources for Wisconsin's angel investing community. Members receive discounts on WAN sponsored events.
• SHINE Medical TechnologiescoreStrategic or Co-development PartnerSHINE is a portfolio company and sister organization to Phoenix LLC. SHINE uses Phoenix's neutron generators to produce medical isotopes. Greg Piefer founded both companies as part of a long-term vision for nuclear technology commercialization. Phoenix exited via merger with SHINE Technologies (Illuminated Holdings) in 2021.
• Phoenix LLCcoreStrategic or Co-development PartnerPhoenix (formerly Phoenix Nuclear Labs) manufactures neutron generators used by SHINE for medical isotope production. The companies achieved a world record for strongest nuclear fusion reaction in a steady-state system (46 trillion neutrons per second). Phoenix exited via merger with SHINE Technologies in 2021.
• Venture360coreTechnology or IntegrationWIP uses Venture360 as the initial screening tool for entrepreneur applications. Entrepreneurs apply through the Venture360 platform for investment consideration.
• National Venture Capital Association (NVCA)minorStrategic or Co-development PartnerWIP often utilizes the standard term sheet offered by NVCA for investment documentation and legal structures.

Scale indicators6 records

Recent moves6 records

Expansion highlights4 records

Direct peers

• Hyde Park Angels: Chicago-based angel investment group investing in early-stage Midwest startups with a member-driven screening model. Highly comparable to WIP in structure, geography, and stage focus.
• Band of Angels: Silicon Valley-based angel group with a long operating history and operator-investor membership model. Comparable in screening structure and individual-led investment decisions, though focused on the West Coast.
• Tech Coast Angels: One of the largest U.S. angel networks with a member-driven screening and investment process. Directly comparable to WIP in operating model, with a Southern California geographic focus.
• Alliance of Angels: Seattle-based angel group with structured screening meetings and individual member investment decisions, closely mirroring WIP's operating model but anchored in the Pacific Northwest.
• Keiretsu Forum: Large global angel network with chapter-based investing and individual member-led decisions. Comparable in member-driven structure and stage focus, though much larger and globally distributed.
• Sand Hill Angels: Silicon Valley angel group with operator-investor members evaluating early-stage deals through structured screening meetings. Comparable operating model to WIP.
• New York Angels: NYC-based member-driven angel group screening early-stage companies through formal pitch and due diligence processes. Comparable in structure though serving the Northeast market.
• Golden Seeds: National angel network with member-driven screening and individual-led investment decisions across early-stage companies. Comparable in operating model, though with a thematic focus on women-led ventures.

Regional players

• gener8tor: Wisconsin/Midwest-based accelerator investing in early-stage startups through structured cohorts and mentorship. Listed as a WIP portfolio company and operates in overlapping geography and stage.

Others

• Wisconsin Angel Network: Regional ecosystem organization sponsoring events for Wisconsin angel investors and a stated WIP affiliate. Acts as a feeder and convener for Wisconsin-based angel activity rather than a direct investor peer.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat5 records

Key risks5 records

Key highlights6 records

Customer concentration

Revenue estimate

Valuation estimate

Number of profiles

Profiles15 records

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments122 records

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Wisconsin Investment Partners