Michigan Pre-Seed Capital Fund Update
Pre-Seed Fund makes 8th Investment
The Michigan Pre-Seed Capital Fund has approved its 8th investment for Phrixus Pharmaceutical Inc. This Ann Arbor company is receiving funds from the BRCC and its founders. The pre-seed funding is $100,000.
This brings the total investment amount made to date by the fund to more than $1.5 million.
The deal flow is very strong. Four companies are currently being reviewed and evaluated by the Investment Review Board with at least two more companies finalizing their applications.