GRAND RAPIDS Michigan Capital Network has submitted filings with the Securities and Exchange Commission to increase the total investment amount of its Fund IV from $25 million to $35 million. 

MCN is the state’s largest association of regional angel investing groups and the management entity for four venture capital funds. 

“This expansion reflects the ever-growing interest of investors in Michigan’s tech startup sector,” said Paul D’Amato, CEO and Managing Director of MCN. “We have previously invested in numerous successful companies such as Grand Rapids Aseptic Manufacturing Inc., Tetra Therapeutics Inc., Facility Health Inc., and HealthBridge Financial Inc., through our earlier venture capital funds and we plan to build on our investment strategy in a way that will grow our state’s economy.” 

MCN’s venture capital funds and angel groups invest in entrepreneurs and tech startup companies in the life science, advanced manufacturing and software industries. Fund IV was established in July 2021 and has seen a high level of activity in the past 14 months. This comes on the heels of MCN’s first three venture capital funds, which have already invested in a combined total of 50 companies, 18 of which have exited. 

MCN’s five regional angel investment groups total more than 200 individual investors or members. Between the angel groups and the four venture capital funds, MCN has invested in more than 100 companies, creating more than 2,000 high-paying tech industry jobs in Michigan. 

“Michigan Capital Network is an organization that connects investors with innovative entrepreneurs, creating an atmosphere of economic growth for the startup, the state and our members,” said D’Amato. “The expansion of Fund IV will allow us to continue that positive work.”  

Click here to learn more about Michigan Capital Network and its regional angel investing groups.