Logo

Idea Fund of La Crosse

Upper-Midwest seed VC backing pre-revenue and early-revenue software startups in WI, MN, IA.

La Crosse, WI, USA

Apply

Description

Idea Fund of La Crosse (IFL) is an early-stage venture capital firm based in La Crosse, Wisconsin. Founded in 2017, the firm focuses on filling the "capital gap" for startups located in Wisconsin, Minnesota, Iowa, and the broader Upper Midwest. 
  • Seed & Series A: This is the firm’s core focus. They specialize in being the first institutional partner for founders
  • Post-Revenue Preference: They typically look for companies that have moved past the initial product development phase and have demonstrated early commercial traction or market validation
  • Method: Founders can submit their materials through the official Idea Fund contact portal or engage via warm introductions from the Wisconsin and Minnesota tech ecosystems 
  • Materials: A pitch deck, executive summary, and 3-year financial projections are required for initial review 
  • Vetting Focus: They prioritize "capital-efficient" software and technology businesses that solve real-world problems in established industries 

Eligibility

  • Geography: Primarily Wisconsin, Minnesota, and Iowa, with a focus on the Upper Midwest region.
  • Sectors: Industry-agnostic, with a strong interest in B2B SaaS, HealthTech, Agriculture Technology (AgTech), and Advanced Manufacturing.
  • Business Model: Preference for high-growth, scalable models that can benefit from regional industrial expertise.

Process

  1. Direct Sourcing: The team actively scouts deals from regional accelerators (like gener8tor) and university innovation hubs.
  2. Screening: Initial review by the investment team to assess sector fit, technical defensibility, and market size.
  3. Active Partnership: Post-investment, the fund provides hands-on mentorship, acting as a strategic advisor for sales strategy, recruiting, and follow-on fundraising.

What an Applicant can Obtain

  1. Strategic Capital: Access to institutional funding from a firm deeply rooted in the Midwest economy.
  2. Board Participation: The partners often take a board seat or observer role to provide active governance and strategic guidance.
  3. Regional Network: Direct connections to potential corporate customers and strategic partners across the Upper Midwest.
  4. Follow-on Support: Guidance on preparing the company for larger Series B raises from coastal or national venture firms.