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New Detroit Funds To Deploy $4.2M To Early-Stage Companies

by mibiz.com posted 1year ago 1295 views
<div class="K2FeedIntroText"> <p>Detroit-based nonprofit will manage a new statewide fund created to provide needed early-stage capital to startups in Michigan.</p> <p>Despite the name and initiatives focused primarily on community development in its hometown,&nbsp;Invest Detroit&nbsp;will spread funding from the $4.2 million, two-year First Capital Fund across the state. Invest Detroit intends to meet regularly with Michigan&rsquo;s 17 SmartZone business incubators &mdash; including those in Grand Rapids, Holland and Muskegon &mdash; and do other outreach &ldquo;just to make sure this program represents the entire state,&rdquo; said Vice President and Managing Director Martin Dober.</p> </div>