GRAND RAPIDS — Auxo Investment Partners closed fundraising for its first fund after netting $50 million from family offices and institutional investors.

The close last week enables Auxo’s partners to focus solely on seeking and vetting investment prospects.

The Grand Rapids-based private equity firm expects to invest in 10 to 15 companies over the next three years through Auxo Growth Holdings I LLC, deploying an estimated $150 million in capital through co-investments with family offices.

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