MiBiz: New venture capital fund launches in Grand Rapids to target early-stage companies
GRAND RAPIDS — A new venture capital fund based in Grand Rapids plans to target investments in early-stage companies in the Midwest, MiBiz has learned.
Grand Ventures I LP will invest $1 million to $3 million in early-stage capital in each deal and provide “strategic support” for startup businesses involved in agriculture, manufacturing and transportation. The fund will pursue investment prospects that are nearing or have entered the marketplace with an innovation and have the potential for high growth, said co-founder and general partner Tim Streit.
“The Midwest holds incredible potential for startups and early-stage venture capitalists,” Streit told MiBiz. “This is a great time to be an entrepreneur and Grand Ventures wants to help companies realize their full potential. We are trying to focus on entrepreneurs that are fundamentally trying to change the world, and in doing so will create a great business and they will create great outcomes for their communities and their investors.”
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