Grand Angels has been spreading its wings across Michigan, making investments across the Great Lakes State including in Ann Arbor.
That's a significant step for the Grand Rapids-based angel investment group. Angel investors are high-net-worth individuals (think millionaires) who invest in early stage startups. The Grand Angels started a decade ago with the idea of investing in those startups in the Grand Rapids area. It quickly realized that opening up that area meant more opportunities to invest.
"We said we will look at deals anywhere in Michigan as long as it looks like a good deal," says Jody Vanderwel, president of
Grand Angels. "That opened up the pipeline quite a bit."
One of those deals is in
Local Orbit. The Ann Arbor-based startup is developing software that helps connect food producers (think farmers, co-ops and farmers markets) with grocers, restaurants and other eateries.
Local Orbit's online marketplaces are active across a dozen states. That enabled local farmers' sales through Local Orbit to grown 300 percent between 2012 to 2013. Local Orbit is leveraging its investment from Grand Angels to expand its targeted regions.
Source: Jody Vanderwel, president of Grand Angels
Writer: Jon Zemke
Read more about Metro Detroit's growing entrepreneurial ecosystem at SEMichiganStartup.com.
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