The Michigan State University Foundation’s two-year-old fund has now invested roughly $6 million in companies across the Mitten state.
The Michigan Rise Pre-Seed Fund III, a subsidiary of the Michigan State University Foundation, announced earlier this month that it has made its 50th startup investment since its founding in August 2020, in collaboration with the Michigan Economic Development Corporation (MEDC).
“It’s been incredibly satisfying for our team to work with Michigan’s innovative startup community and to complete our 50th investment in under two years,” said Jeff Wesley, executive director of Michigan Rise Pre-Seed Fund III. “This is not only a great accomplishment for Michigan Rise and the MSU Foundation, but more importantly, it’s a demonstration of the continued growth of our state’s entrepreneurial ecosystem. I couldn’t be more excited about what’s to come and thankful to our dedicated team for the hard work and support they put in daily to achieve this milestone in just a short time for the fund.”
Michigan Rise Pre-Seed Fund III has invested $5.8 million in 50 entrepreneurs across Michigan, including 12 follow-on investments in 11 portfolio companies, totaling $5.8 million.
Source: Michigan Rise makes 50th startup investment – Grand Rapids Business Journal
