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Grand Rapids based venture capital firm raises 28 million for flagship fund

Grand Ventures LLC has finished raising capital for its $28 million flagship fund intended to help startups based in Michigan and the Midwest.

The Grand Rapids-based venture capital firm announced Tuesday that it made the final close on its Fund I LP, which has invested about $5 million in six companies so far and aims to provide capital to 15-20 over the life of the fund, according to a news release.

Image: Tim Streit