WRS News Online

4490 Ventures Announces First Investments

4490 Ventures has made its first two investments. 4490 Ventures is the $30 million venture fund, created by the State of Wisconsin Investment Board and the Wisconsin Alumni Research Foundation focusing on seed and early stage investments primarily in Wisconsin information technology companies.

Last July, 4490 Ventures announced it had invested in Abodo, a Madison-based apartment rental website. The company was founded in 2012 by three University of Wisconsin-Madison graduates who wanted to make searching for an apartment easy. In addition to Madison, Abodo has apartment listings in 17 markets including Milwaukee, Minneapolis, Atlanta and St. Louis.

4490 Ventures’ second investment was made in another Madison-based company, EatStreet, an online and mobile food ordering service in more than 1,100 cities nationwide. SWIB also made a direct investment in EatStreet.

SWIB and WARF are working closely overseeing the development of 4490 Ventures. The partnership is providing support for the state’s emerging and established information technology businesses as well as attracting interest from venture capital investors from outside Wisconsin.

Last March, 4490 Ventures named Greg Robinson general partner. Robinson brings more than two decades of operating and venture capital experience to a fund that is in a unique position to not only access research and development opportunities out of the University of Wisconsin, but also access opportunities throughout the state by leveraging the strong network of relationships of entrepreneurs, key business leaders and investors.