Rock River Capital Partners raised $23 million in capital commitments from more than 50 investors in its first fund, called Rock River Capital Partners Fund I, the organization announced today.

“Investors from all over Wisconsin, including the Badger Fund of Funds, and as far away as Texas and London, invested in our vision of a return-focused fund with the strategy of leading investment rounds and providing mentorship to help accelerate growth and continue to build the Wisconsin ecosystem,” Rock River Partner Andy Walker said in a statement.

According to a release, the company has already looked at more than 150 businesses as possible investments in Wisconsin. Initial investments typically range from $500,000 to $1 million, with additional capital reserved for follow-on rounds.

Rock River Capital Partners may begin investing in startup companies yet this year, Walker said.