Charter Growth Capital Fund has invested in All Star Driver Education LLC, an Ann Arbor provider in drive education.

The Grand Rapids-based Charter Growth Capital Fund provided mezzanine debt and an co-equity investment led by Detroit-based HighGrove Companies to recapitalize All Star Driver Education, which has graduated more than 200,000 students since 1997, according to a statement.

“Having announced the close of our first portfolio company in October, making our second investment just two months later confirms our fund thesis that successful lower middle market companies have an unmet need for a flexible debt and equity offering,” said Hector Bultynck, a managing director at Charter Capital Partners who will serve on the All Star Board of Directors. Read more at MiBiz