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Day: February 9, 2020

Crain’s Michigan Business – Grand Angels raises fund of $11.8 million, its largest yet

Posted on by Paul Damato

BY Tom Henderson

Early stage entrepreneurs in western Michigan have more equity capital to tap into to fund their companies.
The Grand Angels of Grand Rapids have finished raising their third fund of $11.8 million. Their previous funds were
$2 million and $6.8 million. Members of the Grand Angels can also invest in deals individually alongside the fund.
Members of the Michigan Capital Network, which includes the Woodward Angels in Detroit, the Flint Angels and the
Ka-Zoo Angels in Kalamazoo, can also co-invest in deals with the fund.
The Grand Angels provides back-office and due-diligence support to members of the other angel groups in the
network.

Read the full article on Crain’s website.

Crain’s Michigan Business – Startup helps health care systems fix infrastructure

Posted on by Paul Damato

BY Tom Henderson

Facility Health Inc., a Belmont-based health care startup just north of Grand Rapids, closed at the end of January on
a seed round of funding of $1.3 million.
The company makes software to help large health care systems more efficiently monitor and repair infrastructure
components such as heating and cooling systems and operating room equipment.
The round was led by Wakestream Ventures LLC, an investment arm of the DeVos family based in Grand Rapids.
The last participant to join the round was the Grand Rapids-based Grand Angels, which closed on an investment of
$350,000 at the end of January. That included money from the angel group’s newest and largest investment fund, as
well as individual members of the Grand Angels and members of other angel groups affiliated with the Grand Angels
through the Michigan Capital Network.

Read the full article on Crain’s website.

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