Tom Shannon, an experienced early-stage investor who was chief executive officer of Prodesse Inc. until its 2009 acquisition by global biotechnology leader Gen-Probe Inc. for $72 million, will lead the foundation on a volunteer basis.
and seven co-founders have made pledges totaling nearly $6 million to establish the foundation.
"Our unique approach with BrightStar
is focused on creating high-paying jobs," Mr. Shannon
"We're doing it through a philanthropic model that promotes capital formation through capital donation, puts more contributed capital to work and reinvests almost all of the returns in companies statewide that are driving Wisconsin's economic recovery.
will go a long way to help fill the significant gap of more than $250 million in Wisconsin between the need for and the availability of early-stage capital that supports job creation."
is joined by the following seven business and investment leaders as a co-founder of the BrightStar Wisconsin Foundation