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State of Wisconsin Investment Board
AddedFeb 13, 2024
UpdatedJun 28, 2026
State of Wisconsin Investment Board

State of Wisconsin Investment Board

Operating

SWIB: Independent agency managing over $143 billion in Wisconsin state trust and retirement funds.

Location
Madison, WI, US
Founded
1951
Firm
Compare
Portfolio
Employees
Website

The State of Wisconsin Investment Board (SWIB) is an independent state agency tasked with managing the assets of the Wisconsin Retirement System, the State Investment Fund, and other state trust funds. With over $143 billion in assets under management, SWIB primarily focuses on a range of investment stages including Series A, Series B, and Series C rounds, as well as seed and convertible note investments.

SWIB's notable portfolio companies include EatStreet, Elephas, HistoSonics, and Madison Vaccines. The board is directed by an independent leadership team dedicated to maximizing returns for the state's trust funds. SWIB's investment philosophy emphasizes long-term growth and stability, and they offer value-add services such as strategic guidance and performance monitoring to their portfolio companies.

Portfolio Snapshot

Portfolio activity breakdown across disclosed investments and stages

Total Investments18
Current Portfolio Count12
Total Portfolio Exits0

Top Investment Stages

Series A6 (35.3%)
Series B5 (29.4%)
Series C3 (17.6%)
Series Unknown2 (11.8%)
Convertible Note1 (5.9%)

Stage Mix

Series A 35%Series B 29%Series C 18%Series Unknown 12%Convertible Note 6%

Concentration shown as share of disclosed investments by stage.

Recent Investments

Elephas logo

Elephas

HistoSonics logo

HistoSonics

Flugen logo

Flugen

EatStreet logo

EatStreet

Rentable logo

Rentable

Madison Vaccines logo

Madison Vaccines

Zurex Pharma logo

Zurex Pharma

Datica logo

Datica

Montage logo

Montage

Mithridion logo

Mithridion

Caden Biosciences logo

Caden Biosciences

CapForce logo

CapForce

State of Wisconsin Investment Board - Classification

NAICS
  • 520000Finance and Insurance
  • 523000Securities, Commodity Contracts, and Other Financial Investments and Related Activities
  • 523900Other Financial Investment Activities
  • 523990All Other Financial Investment Activities
  • 523999Miscellaneous Financial Investment Activities
SIC
  • 6700Holding And Other Investment Offices
  • 6720Investment Offices
  • 6722Management Investment Offices, Open-end
ISIC
  • 6530Pension funding
Show 11 more industry codes
NAICS
  • 525100Insurance and Employee Benefit Funds
  • 525110Pension Funds
  • 525000Funds, Trusts, and Other Financial Vehicles
  • 523910Miscellaneous Intermediation
  • 523940Portfolio Management and Investment Advice
SIC
  • 6300Insurance Carriers
  • 6370Pension, Health, And Welfare Funds
  • 6371Pension, Health, And Welfare Funds
  • 6000Depository Institutions
  • 6790Miscellaneous Investing
  • 6799Investors, Not Elsewhere Classified