BrightStar Wisconsin Foundation

What BrightStar Wisconsin Foundation does

BrightStar Wisconsin Foundation, Inc. is a 501(c)(3) nonprofit venture philanthropy organization founded in 2013 and headquartered in Milwaukee, Wisconsin. It accepts charitable donations from individuals, businesses, and charitable organizations and deploys the capital as equity investments into early-stage technology companies based in Wisconsin, operating an 'evergreen' model in which proceeds from successful exits and follow-on rounds are recycled into new portfolio companies. Target companies are typically at proof-of-principle, early-commercialization, or revenue stage, with a stated emphasis on technology-based products or services, barriers to entry, large addressable markets, and potential for rapid national scaling.

The foundation is governed by an Executive Chairman (co-founder Thomas M. Shannon), a board of directors, and an Investment Committee chaired by President & CEO Todd Sobotka; paid staff are limited to two people (Sobotka and Business Manager Maximillian Hartounian), with deal evaluation, diligence, and oversight performed largely by volunteers. Since 2013 BrightStar has invested in over 80 Wisconsin companies across 15 counties and deployed more than $10 million in equity capital, with portfolio outcomes including Fetch Rewards and SHINE Medical (both unicorns), RoddyMedical, COnovate, Blue Line Battery, Tundra Targeted Therapeutics, AIQ Solutions, Intrnls, Phoenix-Aid, Novir, Optical X, and others spanning biotech, health tech, SaaS, medical devices, battery materials, carbon capture, and advanced manufacturing.

Capital is raised through charitable donations, state grants (notably a 2020 WEDC Capital Catalyst Grant), and recurring returns from portfolio exits that are reinvested into new deals. Distribution is conducted directly (online registration portal, Hatch regional pitch events) and indirectly (co-investment syndicates with Wisconsin-based angel groups and venture firms including HealthX Ventures, Rock River Capital Partners, Golden Angels Investors, Tundra Angels, Wisconsin Investment Partners, Madison Development Corporation, and WARF). BrightStar does not develop proprietary technology and provides portfolio support primarily through capital, investor introductions, and ongoing counsel rather than product or technical services.

Name

BrightStar Wisconsin Foundation

Legal name

BrightStar Wisconsin Foundation, Inc.

Website

https://brightstarwi.org

Company type

Private

Founded year

2013

Operating status

Operating

Headcount range

11–50 employees

Short description

BrightStar Wisconsin Foundation is a Milwaukee-based 501(c)(3) nonprofit that accepts charitable donations and deploys them as equity investments in Wisconsin early-stage technology companies, recycling investment returns into new deals under an evergreen venture philanthropy model.

Ownership category

akta.pro rank

Product category

Venture Philanthropy

NAICS

Grantmaking Foundations (813211), Grantmaking and Giving Services (81321), Religious, Grantmaking, Civic, Professional, and Similar Organizations (813)

SIC

Services-Membership Organizations (8600)

akta.pro primary industry

Community Foundations (BPAGAKAB)

akta.pro secondary industry

Corporate Foundations & CSR Grantmaking (BPAGAKAC)

Keywords

• Venture philanthropy
• Nonprofit venture capital
• Early-stage equity investing
• Startup funding
• Charitable investment

Headquarters

HQ city

Milwaukee

HQ country

United States

HQ region

North America

Offices2 records

Markets served

GTM type

B2B

Offering type

Services

Cost components

Personnel, Operations, Marketing or Sales, Others

Revenue model

1. Donations and Charitable Contributions: As a 501(c)(3) nonprofit organization, BrightStar Wisconsin Foundation generates capital through accepting donations from individuals, businesses, and charitable organizations. These donations are then deployed as equity investments into Wisconsin early-stage tech companies. When investments succeed, returns are reinvested into more entrepreneurs, creating an evergreen philanthropic model.
2. Investment Returns Reinvestment: When BrightStar's portfolio companies succeed and provide returns on investment (through exits, acquisitions, or follow-on funding), those capital returns are re-deployed into new Wisconsin entrepreneurs. This creates a sustainable, self-replenishing funding model where each charitable donation theoretically lives forever.

Go-to-market motion3 records

Distribution channels3 records

Marketing channels6 records

Core offering

BrightStar Wisconsin Foundation is a 501(c)(3) nonprofit venture philanthropy organization that accepts charitable donations from individuals, businesses, and foundations and deploys them as equity investments into Wisconsin early-stage technology companies. When portfolio companies return capital through exits or follow-on funding, returns are reinvested into additional Wisconsin entrepreneurs, creating an evergreen funding cycle designed to create quality sustaining jobs in the state.

Product overview

BrightStar Wisconsin Foundation is a nonprofit 501(c)(3) venture philanthropy organization that serves as an efficient philanthropic conduit for keeping Wisconsin's talent in the state by creating high-paying jobs. The foundation accepts charitable donations and deploys them as equity investments into Wisconsin early-stage technology companies. When investments succeed, returns are reinvested into more entrepreneurs, creating an evergreen funding model. The organization operates through an Investment Committee that evaluates opportunities at proof of principle, early commercialization, or revenue stages, focusing on technology-based companies with innovative ideas, large addressable markets, and potential for rapid national scaling. They do not generally invest in retail businesses, professional service firms, or real estate ventures. The foundation provides capital to portfolio companies and also offers introductions, strategic partnerships, and ongoing counsel to help companies succeed.

Differentiator

Problem solved

Functional benefit

Products and services

• Wisconsin Early-Stage Equity Investment Program

Quantifiable outcome

• 1,500+ jobs created by portfolio companies since 2013
• +4 more outcomes

Named customers8 records

Segments3 records

Ideal customer profiles2 records

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Partnerships

Three partnerships are on record, tiered core and minor.

• Madison Development Corporation (MDC)coreStrategic or Co-development PartnerMDC, led by Investment Committee member Lorrie Heinemann, has funded over 200 emerging and high tech companies in the Madison area. Represents a key ecosystem partner for BrightStar.
• Wisconsin Angel NetworkcoreStrategic or Co-development PartnerLorrie Heinemann is co-founder and Past Chairman of the Wisconsin Angel Network. BrightStar partners with angel and venture community to provide both capital and experience to entrepreneurs.
• UW-Milwaukee I-Corps ProgramminorStrategic or Co-development PartnerRoddyMedical participated in UW-Milwaukee's I-Corps program, WEDC Ideadvance, and other programs for product development support.

Scale indicators5 records

Recent moves6 records

Expansion highlights4 records

Market position

Competitive moat4 records

Key highlights6 records

Customer concentration

• LinkedInlinkedin.com/company/5290447

Compliance1 record

Revenue estimate

Valuation estimate

Number of profiles

Profiles18 records

Funding overview

Funding rounds

Investors

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

M&A

Investments61 records

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

Frequently asked questions about BrightStar Wisconsin Foundation