Wisconsin Alumni Research Foundation
Madison, Wisconsin, United StatesFounded 1925
The Wisconsin Alumni Research Foundation (WARF) is an independent nonprofit technology transfer organization serving the University of Wisconsin–Madison. Through its venture arm, WARF Ventures, it provides seed and growth funding to early-stage startups commercializing UW–Madison technologies.
Deal activity decreased year-over-year (1 deal in the last 12 months vs 2 prior). Average disclosed round size is $13.4M (across 19 rounds with reported amounts).
Portfolio
17
Fund Size
$110M
Top Stage
Seed
Last 12 Mo
1
Team
KR
Katie Rice
Principal - WARF Ventures
LM
Lesli Mark
Principal, WARF Accelerator
AH
Alain Hung, CFA
Deputy CIO
Portfolio Breakdown
Stage Distribution
Sector Distribution
Investment Activity
DealsAvg Round Size
Portfolio
20 investments
| Company | Round | Amount | Date |
|---|---|---|---|
 Qolab | Series B | $54.2M | Jul 2026 |
 Realta Fusion | Series A | $36M | May 2025 |
| HHubble Therapeutics LLC | Series A | $7.3M | Mar 2025 |
| MMadSci | Seed | $7M | Jan 2025 |
| HHubble Therapeutics LLC | Series A | $7.3M | Jan 2025 |
| Qolab | Series A | $16M | Jan 2024 |
| PPROMISS Diagnostics Inc. | Seed | $400K | Jan 2020 |
 Gregor Diagnostics Inc. | Seed | $900K | Jan 2018 |
| NNeuWave Medical | Series C | $25.3M | May 2015 |
 NeuWave | Series B | $25M | May 2015 |
| NNimbleGen Systems, Inc. | Series D | $8.2M | Jan 2005 |
| PPROMISS Diagnostics Inc. | Seed | $400K | — |
 Isomark | Seed | $750K | — |
| IImmuto Scientific | Seed | $8M | — |
| PPyran | Series B | $5M | — |
| NNeuraWorx | Seed | — | — |
 AlfaLight | Growth | $28M | — |
| SStudyBlue | Unknown | $9M | — |
| FFluGen Inc. | Series A | $12M | — |
| TTissue Regeneration Systems | Unknown | $4.6M | — |
Top Co-Investors
Versant Ventures2 shared
gener8tor2 shared
Great Oaks Venture Capital2 shared
Blue Sky2 shared
Phoenix Capital Ventures2 shared
TitletownTech1 shared
Avila VC1 shared
GSBackers1 shared
Future Fund1 shared
True Ventures1 shared
SiteGround Capital1 shared
Khosla Ventures1 shared
Mayfield Fund1 shared
Cargill1 shared
Baird1 shared
University of Chicago1 shared
Plug and Play Tech Center1 shared
Insurtech Gateway1 shared
First Round Capital1 shared
Green Park & Golf Ventures1 shared
Last updated: 20 October 2026