MILWAUKEE, WISC. (Oct. 26, 2021) – On Oct. 25, 2021, Gateway Capital, a Milwaukee-based venture capital fund led by and managed by Dana Guthrie, announced its seed investment as the lead investor in Tip a ScRxipt. gener8tor, through the Northwestern Mutual Black Founder Accelerator, also participated. Godfrey & Kahn represented Gateway Capital in the transaction.
Tip a ScRxipt is a Milwaukee-based fintech startup founded by Chad Johnson that allows health care providers and pharmaceutical companies to efficiently deploy payment assistance programs for medication and medical device expenses directly to consumers. Mr. Johnson is an alumnus of Young Enterprising Society’s Blueprint accelerator, which is where he initially connected with Gateway Capital and the Northwestern Mutual Black Founder Accelerator.
One year ago today, the Wisconsin’s Badger Fund of Funds announced Dana Guthrie as the fund manager of Gateway Capital. Since that announcement, the fund closed with an oversubscribed $13.5 million invested, which included investments from some of the largest institutional investors in Wisconsin, and closed on the fund’s first investment in Tip a ScRxipt. Similar to Tip a ScRxipt, Gateway Capital is pursuing investments in pre-revenue and early stage startups with high growth potential, with an average investment size of $400k.
“Dana and Gateway Capital have the potential to be major difference makers in the Milwaukee and Wisconsin startup ecosystems. ” Says Jay Creagh, counsel for Gateway Capital.
A Godfrey & Kahn team including Jay Creagh, Pam Krill, Andrew Spillane and Ashley Smith, advised Gateway Capital on its fund formation, investor negotiations, and its initial investment in Tip a ScRxipt.
For more information, please see Gateway Capital’s press release.
With more than 180 lawyers, Godfrey & Kahn, S.C. is one of Wisconsin's leading business law firms. Founded in 1957, Godfrey & Kahn maintains offices in Milwaukee, Madison, Appleton, and Green Bay, Wis.; and Washington, DC. For more information, please visit the firm's website at www.gklaw.com.