The Michigan State University Foundation (MSUF) has formed a new $5M venture investing subsidiary.
Red Cedar Ventures will manage a pre-seed fund and an opportunity fund focused on backing Michigan State University-based startups and technologies to create companies and accelerate their growth, and provide follow-on, growth-stage capital.
In the last four years, MSUF has deployed over $2M in pre-seed funding to more than twenty companies. The fund will continue this kind of (pre-seed) investment as well as will select, follow-on investment rounds.
Both Red Cedar Ventures Pre-Seed and Opportunity Funds will be overseen by a Board of Directors composed of members from MSUF’s own Board of Directors. MSUF’s executive management team will oversee the day-to-day fund operations. An advisory board will be established and will draw on the expertise of venture capitalists from across the nation, as well as student venture analysts from Michigan State University’s Broad College of Business.