GRAND RAPIDS — A new venture capital fund in Grand Rapids that will do tack-on deals for existing portfolio companies of Michigan Accelerator Fund I closed this week after raising $5 million from investors.
MAF Opportunity Fund was oversubscribed and secured commitments from backers that include institutional and individual investors as well as family offices. The fund will make follow-on investments to support companies that are already backed by Michigan Accelerator Fund I and need later-stage funding, as MiBiz exclusively reported last month.
