- change ups
Michigan Angel Fund watches for early stage companies
Michigan’s largest angel organization is looking for investment-worthy companies.
The Michigan Angel Fund has more than 70 members and has closed its fund to new investors.
MAF is looking to make early stage investments from $200,000 to $2 million in Michigan companies.
MAF is a “for-profit pooled, professionally managed angel fund” and attracts local and outside angel investors, according to its website.
“MAF is an important addition to Michigan’s evolving entrepreneurial ecosystem,” said Skipp Simms, MAF managing director. “The venture industry in our state has grown dramatically the past few years, with hundreds of millions of dollars ready to be deployed in companies needing several million to grow.
Quick road to profitability
“Our focus is on funding companies that do not need a lot of capital to get to profitability,” he said. “Most VCs aren't interested in these investments, because the companies are too small, but these smaller companies can still generate significant ROI and contribute to the overall health of our economy.”
MAF made its first investment in BioPhotonics Solutions, an East Lansing-based venture and Michigan State University spinoff that produces laser pulse shaping-and-compressing technology.
Companies can apply for MAF funding online.