Peak Ridge Capital invests in Wisconsin

[PRESS RELEASE]

Alternative asset management firm Peak Ridge Capital is pleased to announce that its Midwest early-stage venture capital fund has successfully closed on three investments this year.

Two of the fund's investments, video game developer Frozen Codebase and online music provider Broadjam.com, have been based in Wisconsin since their inception.

The third investment, Rapid Diagnostek, developer of a patented, cost-effective one-step sensing device that quickly diagnoses bacteria, viruses, spores and disease biomarkers, was previously headquartered in Minnesota but has since relocated to Wisconsin as part of the NEW Capital and Peak Ridge Capital investment syndication.

Peak Ridge's Jason Smith commented: “We continue to be encouraged by the growing venture opportunities in the Midwest and I look forward to finding more ways to allow my home state of Wisconsin to become a global player in this arena. Peak Ridge continues to open many doors for local entrepreneurs that have historically not been available to them. Our international reach adds significant value to all of our investments.” The terms of the fund's investments were not disclosed.

Peak Ridge Capital Group is a Boston-based firm active in hedge funds, real estate and private equity. Peak Ridge maintains offices in Boston, Canada, Bermuda, and has recently established a downtown Madison office, adding James Hanke to its team of professionals. Hanke previously founded and administered three angel investing networks in Wisconsin, including Badger AgVest, and brings seven years of early-stage investment experience to the Peak Ridge private equity team.