Innosphere has announced the launch of the Innosphere Wyoming Innovation Fund (IWYIF)
Innosphere has announced the launch of the Innosphere Wyoming Innovation Fund (IWYIF), a venture capital fund dedicated to providing early-stage financing for Wyoming-based startups. Backed by Wyoming Venture Capital (WYVC) under the umbrella of the Wyoming Business Council, IWYIF helps address the state’s critical need for pre-seed and seed-stage investment, providing promising companies with the capital and support to grow and succeed.
The launch of IWYIF marks the latest step in Innosphere’s long-standing commitment to fostering high-growth startups. With a proven track record of leading early-stage venture funds and accelerator programs, Innosphere has played a pivotal role in advancing startup ecosystems across the region. WYIF builds on this foundation, leveraging Innosphere’s deep expertise in venture investing, its extensive founder support network, and its leadership in the NSF-backed CO-WY Engine.
“Wyoming has incredible entrepreneurial talent, but limited access to early-stage venture capital,” said Jack Hemmelgarn, General Partner of the Innosphere Wyoming Innovation Fund. “With the Wyoming Venture Capital fund as a capital partner, this fund will bridge the funding gap, ensuring that more high-potential startups can grow in-state, create jobs, and attract follow-on investment. Innosphere has spent over 27 years supporting startups and IWYIF is an impactful next step in strengthening Wyoming’s venture ecosystem.”
IWYIF will invest in high-growth startups across multiple sectors that align with Wyoming’s long-term economic priorities. With an $11M fund targeting approximately 12 companies in the state, IWYIF will work alongside non-dilutive funding sources, ecosystem support organizations, and technical assistance programs to maximize its impact and ensure Wyoming’s innovation-driven companies have a clear path to scale.
“The Wyoming Business Council is focused on leading economic growth, and supporting early-stage capital is a key part of that mission,” said Gordon Finnegan, Equity Portfolio Manager at the Business Council. “By partnering with Innosphere on the Wyoming Innovation Fund, we are helping to ensure startups across the state have access to capital, mentorship, and the resources they need to thrive in Wyoming’s evolving economy.”
Recent reports from Innosphere highlight that while Wyoming’s startup ecosystem is expanding, access to local venture capital remains limited, forcing many companies to seek funding elsewhere. Over the past decade, the state has seen increased venture investment, but pre-seed and seed-stage funding remains scarce. Despite significant growth in early-stage deals, a funding bottleneck persists. IWYIF aims to bridge this gap by providing critical capital to help Wyoming startups scale locally and attract additional private investment.