ANN ARBOR ? ECOFueling is the latest investment for the Michigan Angel Fund, which has staked seven Michigan technology startups to the tune of more than $5 million since it was formed a little over two years ago. With a couple more deals in the pipeline, Managing Partner Joseph (Skip) Simms said Fund One will max out creating the need for the consortium of 72 well-heeled members to form Fund Two.
Simms declined to say how much MAF invested in ECOFueling. The company has developed an injection system that uses lower cost E85 fuel and injects it directly into the intake manifold airflow of any diesel engine. Bottom line: A 20 percent increase in fuel economy coupled with a 50 percent decrease in noxious emissions.
But Simms said with this deal done, and a couple more going through due diligence, MAF One will be fully subscribed. He confirmed a MAF Fund Two is in formation, but because of government regulations could not discuss it further.
MAF invest in the Michigan technology sector, Simms said. Usually from $300,000 to $800,000 per company. But, like most angel investor groups, MAF also joins other angel groups in investing from $500,000 to $1.5 million in individual projects.
Michigan Angel Fund also has investments include:
Avegant?s new platform will allow you to interact with your media and data in new ways, and allow for new forms of storytelling.
BioPhotonic Solutions Inc. (BSI), a Michigan State University spin-out venture founded in 2003 by University Distinguished Professor Dr. Marcos Dantus, is in the early phases of revolutionizing the ultrafast laser industry with its MIIPS? technology.
Epsilon Imaging is transforming cardiac diagnostic workflow with a vendor neutral suite of software applications designed for echocardiography. EchoInsight provides a suite of clinical applications for enhanced visualization and analysis using practical strain imaging.
Larky is a web and mobile service that helps people get all the discounts they deserve at the right time and place. Larky?s customized ?perks dashboard? shows customers all of the perks across all their memberships and makes it easy to find and use relevant discounts.
stkr.it is the revolutionary new way to connect your digital memories to your scrapbook pages, greeting cards and more.
Varsity News Network increases exposure and recognition for high school athletes, and empowers students interested in media to gain experience in the field. In sports and advanced education, VNN pushes the boundaries in two of the most important areas to the high school experience. In the process, VNN helps schools raise money to support educational athletics.
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