Capital Investment Managers Services

The Wisconsin Department of Administration, located in Madison, Wisconsin, is seeking qualified capital fund managers to implement fund investments under the 2021 federal State Small Business Credit Initiative program. The agency needs to identify partners capable of managing capital contributions, sourcing and executing investments, and returning investment proceeds in accordance with program terms. The selected managers must also provide matching private capital from the funds they manage and deliver value-added services to the startup ecosystem. The scope of work requires making equity investments in eligible startups located in Wisconsin. Selected managers must perform all work offsite, handling the sourcing, execution, management, and reporting of these investments. The agency is also requiring fund managers to manage capital contributions into both the funds and the individual portfolio companies. Eligibility is strictly limited to onshore organizations based in the United States. The agency has not disclosed a specific budget and is looking for proposals to define the financial terms. Bidders must submit all questions regarding this opportunity no later than June 4, 2026.