MSU Foundation's Red Cedar Ventures has secured the services of Prem Bodagala, previously of Invest Michigan, as director.

Prem Bodagala (pictured) has been appointed director of Red Cedar Ventures, an early-stage venture arm of Michigan State University (MSU) Foundation, the university’s nonprofit affiliate. Red Cedar Ventures was seeded in late 2016 with $5m to supply MSU-related businesses with gap funding and growth-stage capital. Bodagala began in his new post in October 2019 following a three-month appointment with Red Cedar as entrepreneur-in-residence, having joined from state government-backed agency Invest Michigan in July 2019 after more than two years as director. Before moving to Invest Michigan, Bodagala was a research assistant in University of Michigan’s School of Information from 2016 until 2017, tasked with investigating physician referral patterns within healthcare systems. He completed a seven-month internship with University of Michigan’s Health System in December 2016 focused on cancer informatics analysis, after a business development internship completed in May 2016 at the state-wide Michigan Health Information Network Shared Services network, where he handled the aggregation of health provision cost data. From 2011 until 2013, Bodagala was an associate at investment banking firm Charter Capital Partners, having rejoined following an earlier internship with the company in 2009. Bodagala also worked for public-private investment partnership Michigan Economic Development Corporation  from 2013 until 2015 as portfolio manager for entrepreneurship, innovation and venture capital, and as a VC associate for Michigan Accelerator Fund – an MEDC-backed life sciences venture fund – from 2011 until 2013. – Image courtesy of LinkedIn

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