Business Services Industry
New $100M venture-capital fund taking shape.
Crain's Detroit Business, June, 1996 by Lane, Amy
LANSING - Michigan's proposed venture-capital fund is still months away from giving out money, although its creation is drawing near. "In terms of really being open for business and accepting applications for loans, it's going to be the end of the year before that's ready," said Doug Rothwell, CEO of the Michigan Jobs Commission.
Institutional investors and prospective fund managers will meet later this month - a key step toward creating the more than $100 million public-private fund (Crain's, April 22). Details yet to be resolved include which types of companies could receive funding, repayment policies, who will manage the fund and where their office will be situated, Rothwell said. Indiana utility joins PSC case One of the largest electric utilities in the...
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