Adrian Fortino counts himself lucky he didn't have to scrounge for money from family and friends to launch Shepherd Intelligent Systems LLC in Ann Arbor. And so far he hasn't had to deal with the third traditional "F" source of funds for a startup company: fools.
On the contrary, Fortino speaks highly of the advice he has received from the principals of Huron River Ventures -- who, with a syndicate of other investors, closed on an agreement with his company three weeks ago to provide $1.25 million in exchange for an equity stake.
The commitment "means the world to us," said Fortino, 34, who with partner Jahan Khanna co-founded a business that allows cellphone users to time their arrival at bus stations to meet the bus.
To read the full, original article click on this link: Filling the VC void: Small funds meet big need for startups | Crain's Detroit Business
Author: Matthew Gryczan
