SSBCI was created as part of the federal Small Business Jobs Act of September 2010 to make capital more accessible to entrepreneurs and small businesses. Wisconsin received $22.4 million for small business lending programs to help create private sector jobs. WHEDA is administering the program funds.
“WHEDA is thrilled that innovative, visionary companies are receiving access to much-needed capital,” said WHEDA Executive Director Wyman Winston. “WHEDA has greatly expanded its economic development mission and these deals demonstrate our strong commitment to spurring job creation.”
This round of financing was led by NEW Capital Fund, Wisconsin Investment Partners, and the Wisconsin Economic Development Authority. NEW Capital Fund is one of three Wisconsin-based investment managers chosen by WHEDA to administer job creation funding.
“We are investing in Xolve because of their graphene manufacturing and integration technology,” said Charlie Goff, Managing Director of NEW Capital Fund. “Over the next several years, there will be significant opportunities for companies that can create enhanced composite materials.
“We believe Hopster is on the path to becoming a great scalable media platform to engage shoppers in today’s digital landscape," said Goff. Board Member and Investor Brian Wiegand and his team have demonstrated the ability to identify and create disruptive business models in the business-to-business information technology marketplace and we feel Hopster will continue their string of successes.”
Xolve manufactures graphene, the world’s strongest and most conductive material, and uses it to improve properties of numerous industrial plastics for use in automotive, aerospace and electronics applications. Hopster is a relationship development platform that provides consumer packaged goods brands the ability to manage direct relationships with their in-store shopper.