MaC Venture Capital has raised its inaugural seed fund thanks to limited partners including University of Michigan and Howard University.
US-based venture capital firm MaC Venture Capital has secured $103m for its first seed-stage vehicle from limited partners including Howard University and University of Michigan.
Shoe retailer Foot Locker is also a limited partner, as are Goldman Sachs, Greenspring Associates, Bank of America, State of Michigan Retirement System, Mitch and Freada Kapor and a range of unnamed backers.
The fund will invest in 40 early-stage companies, committing an average of $1m per deal. It will focus on startups leveraging cultural and consumer behaviour shifts, and will invest in a wide range of sectors such as fintech, e-commerce, interactive media, space and aerospace, logistics and enterprise software.
MaC Venture Capital has made 25 investments to date. It invests globally.
Daniel Feder, managing director with University of Michigan’s Investment Office, said: “We are thrilled to join MaC Venture Capital in this key milestone toward building a new kind…
Thierry Heles
Thierry Heles is the editor of Global University Venturing, host of the Beyond the Breakthrough interview podcast and responsible for the monthly GUV Gazette (sign up here for free).
