It's time to recruit more angel investors to help launch startups in Michigan, and it's almost time to raise the Michigan Angel Fund III, said Skip Simms, a senior vice president and director of entrepreneurial services at Ann Arbor Spark and the managing member of the MAF, an Ann Arbor-based angel organization that has raised two previous funds.
The Michigan Angel Fund was launched in 2011, and its first fund raised $2.1 million from 72 accredited investors. The second fund of $2.05 million was raised in 2014 from 62 investors. Simms said he would like to raise more than $2 million for the third fund but declined to specify a target.
Image: Skip Simms, Michigan Angel Fund III: “If we’re serious about diversifying the economy, we need to focus on early-stage companies that can scale and serve a global marketplace.”
