Michigan is taking its next step this summer in gardening its homegrown venture capital industry, launching the Pure Michigan Venture Development Fund.
The state has spent the last decade investing tens of millions of dollars into its venture capital industry, providing matching funds for local VCs and training for early investment professionals. "Trying to develop a venture industry requires a long-term effort," says Mike Flanagan, manager of equity capital programs for the Michigan Economic Development Corp. "Michigan has been at it for 10 years and needs to keep at it."
To read the full, original article click on this link: Southeast Michigan Startup - Pure Michigan Venture Development Fund to invest up to $9M in VC funds
