Newly formed Muskegon Angels looking to invest in job growth

Grand Valley State University’s Michigan Alternative and Renewable Energy Center (MAREC) recently announced the formation of a Muskegon Angel investment group.

Eric Seifert, finance and strategy specialist at MI-SBDTC, says MAREC is a perfect home for an investment group. “MAREC has the resources to support the Angels with infrastructure, including access to GVSU and the MI-SBDTC.” 

Seifert says the organization has a very specific focus. “They are keenly interested in businesses located in Muskegon and (the) lakeshore area, especially advanced manufacturing, technology, water-related issues, and food production.”

Seifert adds that the organization is also looking to invest in existing businesses other than startups that are recovering from the recession. “Because of the challenges in the past, (these businesses) need working capital. The Angels are looking to put money and mentorship into those businesses.”

According to MAREC’s press release, the concept of an Angel group in Muskegon began in 2012. More than 20 individuals are participating, with some members located beyond Muskegon County. Participants agree to invest $125,000 over five years. When fully capitalized, the organization’s financial assets will total more than $2.75 million.

Seifert credits Kevin McCurren, executive director of GVSU’s Center for Entrepreneurship and Innovation, as being instrumental in the formation of this group along with Mike Olthoff, Larry Hines, John Pridnia, and Paul Jackson.

To learn more about this organization, you can visit their site here.

Source: Eric Seifert, MI-SBDTC,
Writer: John Rumery, Innovation and Jobs News Editor