Foxconn joins Wisconsin firms to forge $100 million investment fund to aid tech startups

MADISON, WISCONSIN – Foxconn Technology Group will partner with three major Midwestern companies to create a $100 million fund to help launch technology startups around the world, the companies announced Tuesday. The Taiwanese electronics giant, Advocate Aurora Health, Johnson Controls and Northwestern Mutual will each contribute $25 million to create the Wisconn Valley Venture Fund. The fund will be controlled by a manager based in Milwaukee as well as a committee comprised of representatives from each of the four companies. Officials from the four companies said they expect the fund will produce excellent returns and lead to advances in robotics, artificial intelligence and health care. "We look forward to enabling entrepreneurs and startups to find success for transformative solutions through the fund," Foxconn CEO Terry Gau said in a statement.