The Michigan Angel Fund (MAF), a professionally managed equity fund focused on early stage companies located in Michigan, closed its second fund (MAF II) with $2.05m.
MAF II, which has attracted 26 new members, will make its first investment this spring, and plans to make eight to 10 total investments within the next two years.
Led by Skip Simms, managing director, MAF is the largest angel organization in Michigan with more than 95 members. Established by Ann Arbor SPARK, with administrative support from the Michigan Economic Development Corporation, it funds companies that are seeking early investments from $250,000 to $2,000,000.
There are currently eight companies in the MAF I portfolio: Avegant, Arborlight, BioPhotonics Solutions, Eco-Fueling, Epsilon Imaging, Larky, stkr.it, and Varsity News Network.
Businesses interested in applying for MAF investment can find info about the selection process online at http://www.miangelfund.com/entrepreneurs/working-with-us/
FinSMEs
20/04/2015