ANN ARBOR – The Wolverine Fund, run by the University of Michigan Business School, will invest $50,000 in Mobius Microsystems, a UM spin off that works with microchip makers to integrate technology.
The UM investment comes as part of Mobius’ near $1 million dollar investment round.
“The University of Michigan’s Zell Lurie Institute of Entrepreneurial Studies has been instrumental in turning a classroom idea into a viable company, said Mobius co founder Jeff Wilkens. With its guidance, we have won many business plan competitions and awards, including Zell Lurie’s Dare to Dream program, and now the Wolverine Venture Fund investment. We have built an excellent foundation and this funding gives us the resources to take Mobius to the next level.”
The Wolverine Venture Fund is the largest, most active University-based venture fund of its type in the country. With the active involvement of MBA students, faculty assistance, and an advisory board comprised of professional venture capitalists and entrepreneurs, the Fund typically provides between $100,000 and $200,000 in seed and first-stage funding rounds.
Including Mobius, the Fund has made 19 investments in 11 companies to date, and invested a total of $1.3 million in companies nationwide since its inception in 1998. The WVF prefers to invest in companies along with other venture capital firms and angel investors.
