BY Mark Sanchez
GRAND RAPIDS — After completing fundraising at the end of 2019, Grand Angels has a couple of new deals in the
works for its latest venture capital fund.
The Grand Rapids-based investment firm closed Dec. 31 on $11.7 million raised from nearly 100 investors for Grand
Angels Venture Fund III LLC. Since launching in August 2018, the fund has co-invested in five deals, four of which
were with companies based in Michigan, plus one in Chicago.
Managing Director Paul D’Amato expects two more deals to close in the coming weeks.
“We’re plugging away,” D’Amato told MiBiz.
Grand Angels consists of a West Michigan angel investing network and three affiliated groups in Kalamazoo, Detroit
and Flint, plus three venture capital funds. The two prior Grand Angels venture capital funds combined invested in 33
companies through initial and follow-on rounds made with other funds.
In Fund III, Grand Angels initially targeted raising $15 million. The amount netted still represented “a substantial
increase over our last fund,” D’Amato said.
Read the full article on MiBiz’s website.