PRINT THIS PAGE Michigan creates $150m state venture fund of funds 12/01/2004. Source: AltAssets. 
 The State of Michigan is to launch a $150m venture fund of funds. The Michigan Early Stage Venture Capital Investment Corporation is following in the footsteps of a number of recent state venture programmes including those in Oklahoma, Iowa, Arkansas, Utah and Ohio.
The fund is to invest in venture capital funds focused on‘ information technology, life sciences, advanced manufacturing, and alternative energy technologies’, according to a statement released by the State of Michigan.
The new fund has the backing of the Michigan Venture Capital Association, which will take one of the fund’s seven board seats. The other board seats will be filled by the state treasurer, the chief executive of the Michigan Economic Development Corporation, two candidates selected by the Governor of Michigan, one selected by the senate and one selected by the house of representatives.
Copyright © 2004 AltAssets
|
