LANSING ? A fifth angel investing group has formed in Michigan, this one focused on commercializing technology developed at Michigan State University and by other entrepreneurs in the tri-county area surrounding the state capital.
Capital Community Angels quietly launched early in 2007 and closed its first equity investment deal in late July. CCA invested $250,000 in XG Sciences, which manufacturers nano particles into plastics and polymers. The investment was matched by the Michigan Pre Seed Capital Fund.
?That deal represented a good example of the kind of investment we?re looking for,? said CCA President Loic Couraud, who has been a consultant to small and medium sized business for the past two decades. ?XG Sciences is a new technology with high potential for growth and job creation.?
Couraud said the angel group is currently looking at several other deals, including some in software, but didn?t follow through for a variety of reasons.
?We look are extremely open in terms of technologies we look at,? he said. ?We have to expand our horizons ourselves. So we?re looking at opportunities in sectors and technologies that are extremely new. If we want to attract new talent, we have to offer more than one or two opportunities in the region. Having said that, our members remain focused on Michigan, primarily mid Michigan.?
But he said CCA hopes to partner with the other angel investing groups in the state on Michigan startups outside the mid Michigan region.
?If we want to create a new pool of investment in Michigan, need to invest in entire region,? Couraud said.
Other Michigan angel groups include Great Lakes Angels in Birmingham, Ann Arbor Angels in Ann Arbor, First Angels in Kalamazoo and Grand Angels in Grand Rapids.
For more information, click on CapitalCommunityAngels.Com
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