There’s a new venture fund in Michigan and it aims to have deep pockets. Grand Ventures is the result of longtime Michigan businessman McKeel Hagerty teaming up with Huron River Venture co-founder Tim Streit. The two came together to found Grand Ventures and an SEC filing reveals the venture firm is looking to raise up to $50M for its first fund.
The firm is based out of Grand Rapids, Mich. and are looking to fund early stage technology companies with Midwest ties.
“Over the past five years, high quality accelerator programs and growth-stage investors have proliferated,” said firm principal Maitlan Cramer, “however, there is a pronounced shortage in early-stage funds specializing in $1-3 million seed and Series A financings in the Midwest.”
Cramer points to the Midwest’s…