Madison venture capital group’s parent company fined $700K for misleading investors on fees

The parent company of a Madison-based investment group that claims to solicit money for UW-Madison alumni-connected ventures even though it isn’t affiliated with the university settled with the Securities and Exchange Commission late last week for allegedly misleading investors, among other charges.

New Hampshire-based Alumni Ventures Group, which has affiliate firms all over the U.S. including in Madison, has agreed to repay $4.7 million to affected funds, as well as a $700,000 penalty per the charges. The Group’s CEO, Mike Collins, is also to pay a $100,000 penalty, according to the SEC’s March 4 order.

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