Innovation & Job News

EDF Ventures invests in downtown Ann Arbor, creates new fund

Wednesday, November 19, 2008

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Entrepreneurship, Investment, Venture Capital

Ann Arbor

In a small, old house on the northern edge of Ann Arbor's downtown is one of the big players in Michigan's new economy � EDF Ventures.

The venture capital firm invests in numerous early-stage health care companies. Today it has about $170 million worth of assets under management. About a third of those are based in Michigan. Its latest investment, for example, is in Grand Valley State-based TransCorp, a start-up that develops surgical instruments and implants.

EDF Ventures has organized four investment funds since 1987 and is getting ready to start a fifth worth up to $50 million. It's that growth that inspired the firm to expand to four full-time and three part-time (including one intern) employees. Two new hires have already joined the firm and the company expects to add yet more next year when it gets its fifth fund up and running.

Source: Linda Fingerle, chief financial officer and principal of EDF Ventures
Writer: Jon Zemke