The University of Michigan’s Samuel Zell & Robert H. Lurie Institute for Entrepreneurial Studies at the Ross School of Business today formally announced the Social Venture Fund.
Created in Fall 2009, the vehicle will make early-stage investment of up to $200,000 in Detroit and Southeast Michigan-based for-profit companies that place the generation of a significant social impact at the heart of their mission and way of doing business.
The fund will focus on six key areas including education, environment, finance, food and nutrition, health and urban revitalization. The first investment is expected in spring 2011.
30 students manage the fund’s activities, including deal sourcing, due diligence and marketing support.