The formation of a $10 million venture fund in Grand Rapids reflects a united push to fill a critical void in local economic development efforts. Organizers of Michigan Accelerator Fund I have a solid roster of supporters and partners from across the Grand Rapids business community who pledged both money and in-kind support. Setting up the venture fund, and securing $6 million in state seed money, “was truly a collaborative effort,” said Dale Grogan, co-managing director of Michigan Accelerator Fund I and vice president of transactions at The Charter Group, a merger and acquisition advisory firm in Grand Rapids. “It’s West Michigan saying, ‘We’re going to do this together.’” Grogan and John Kerschen, CEO of The Charter Group, will manage the venture fund. more
