NVNG Investment Advisors has closed its $50 million Fund I, the company announced recently.

According to a release, investors in the fund of funds include Exact Sciences, Baird, Johnson Financial Group, West Bend Insurance and A.O. Smith. The $50 million is the state’s largest fund of funds.

“NVNG’s mission is to make Wisconsin’s entrepreneurial ecosystem globally competitive,” NVNG Co-Founder Grady Buchanan said in a statement. “This doesn’t happen without creating new ways of attracting capital and supporting an ecosystem here that is very much in transition and deserving of a venture capital network that we can provide.”

The investment firm, which launched in November 2019, plans to make strategic investments in both Wisconsin funds and Wisconsin startups.