The Wisconsin Economic Development Corp. has enlisted former pension fund executive Gregory T. Williamson to oversee its newly created $50 million Wisconsin Investment Fund.
Mr. Williamson, who previously served as chief investment officer of BP America Inc., Chicago, and director-trust investments, the Americas, BP PLC from 2008 to 2015, and CIO of American Red Cross, Falls Church, Va., from 2015 to 2017, was named senior investment director of the new fund.
The Wisconsin Investment Fund was announced in March as an effort to boost innovative, young businesses in the state and will partner with venture capital managers who will identify investment opportunities within the state. The venture capital manager will match the state's investment in each company, according to WEDC's website.
"WEDC is excited by the opportunity to establish the Wisconsin Investment Fund to invest in the next generation of iconic Wisconsin businesses," spokesman David Callender said in an email. He declined to comment further. Mr. Williamson referred questions to Mr. Callender.
Initial capital for the Wisconsin Investment Fund comes from the U.S. Treasury Department's Small Business Credit Initiative, which was part of the American Rescue Plan Act of 2021.
Mr. Williamson was most recently a managing director at Exos Financial.