It’s the “next generation of venture capital.”

That’s how David Guinther, one of three general partners of WISC Partners, talked about his company at the monthly Wisconsin Innovation Network luncheon held Tuesday at the Sheraton.

According to Guinther, WISC Partners’ approach centers on providing “Strategic Operating Capital” and providing more post-investment engagement akin to a private equity firm. For example, the 8-12 ventures of the upcoming $25 million fund will each be assigned a permanent team.

“No doubt this is going to be a model that’s tested widely … I don’t know of other funds that are doing what we’re doing,” Guinther, a native of Wisconsin, said. “It’s a smart model, but it comes down to how well we execute.”

WISC Partners will focus on Wisconsin-based IT, healthcare and healthcare IT companies that are post-angel stage and preferably have a product in the market. Each venture will strive to be ready for an acquisition in 4-5 years, according to Guinther.

Investors in the first fund, which will close in the next few weeks, come from both outside and inside the state, though Guinther said most have connections to Wisconsin. He cited that in-state limited partners can take advantage of the Act 255 Income Tax Credits.

“In-state investors will get a disproportional benefit, which can have a ripple effect on (the local) economy,” Guinther said. “Our intent is to not export profits.”