Seed money: Madison has become fertile ground for venture capitalists like HealthX Ventures

For Mark Bakken, managing director at HealthX Ventures, it’s about giving back. He made millions as the founder of the massive health care IT consulting firm Nordic before leaving in 2014. Now, he can help the young founders of companies in the health care technology industry replicate that success. For many of the startups he works with, he’s become a close mentor.

“Some of the startups call me Uncle Mark,” Bakken said. “I kind of show them how to navigate this world.”

…

The state is now home to an unprecedented amount of venture capital dollars. In 2008, Wisconsin venture capitalists had about $287 million under management, according to the National Venture Capital Association. By 2018, that figure had grown to over $1 billion.

Locally, over the past ten years, Madison-based venture capitalists have launched 10 major funds, from health care technology-oriented firms like HealthX Ventures to massive corporate institutions like AmFam Ventures and the CUNA Mutual’s firm CMFG Ventures. Some of those firms have already seen enough success from their initial venture capital fund, and are diving into a second.

Read more at the Capital Times