Greg Robinson was named general partner of 4490 Ventures, a newly formed venture capital fund created by the $101.3 billion State of Wisconsin Investment Board and the $2.5 billion Wisconsin Alumni Research Foundation that is focused on seed and early stage investments primarily in Wisconsin information technology companies, according to a joint statement Tuesday.
Mr. Robinson, who started Monday, was a partner with Peninsula Ventures.
Jamesbeck Global Partners, an executive recruiting firm specializing in searches for traditional and alterative investment management, recruited Mr. Robinson in a search begun last March, said Carrie Thome, WARF director of investment, said in an e-mail.
SWIB and WARF, both based in Madison, committed $15 million each to 4490 Ventures and approved, depending on success and outlook, commitments to provide another $60 million total. SWIB and WARF hope the venture capital fund attracts commitments from other institutional investors following the first $30 million funding phase.
The proceeds of the fund's investments will go to the Wisconsin Retirement System, whose $93.7 billion is assets is included in the total assets SWIB oversees, and to WARF's beneficiaries, primarily the University of Wisconsin-Madison.
4490 Ventures will operate as an arms-length, independent entity with a general partner and limited partner governance, ownership and economic structure, according to SWIB and WARF.
“We are still working through the legal documents with Greg so I cannot comment on commitments to 4490,” Ms. Thome said.
Mr. Robinson and Vicki Hearing, SWIB public information officer, couldn't be reached for comment.