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DBusiness Daily Update: U-M's Accelerate Blue Fund Makes First Investment, Oakland County Retains Moody's Aaa Bond Rating, and More

DBusiness Daily Update: U-M's Accelerate Blue Fund Makes First Investment, Oakland County Retains Moody's Aaa Bond Rating, and More
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U-M venture fund makes first investment after reaching $2M first-close fundraising milestone

Contact: jkaroub@umich.edu
The Accelerate Blue Fund, a University of Michigan early-stage venture fund raised through philanthropy, has reached its first fundraising milestone and made its first investment in a U-M tech startup.
The recipient of the fund’s first investment is Movellus Inc., which provides technology to boost semiconductor chip design for cloud computing, artificial intelligence and other applications. Movellus, based in San Jose, California, with operations in Ann Arbor, launched in 2016 with help from U-M’s Office of Technology Transfer.
Accelerate Blue has made an initial investment of $150,000 in Movellus as part of a $3 million bridge round. ....

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U-M venture fund makes first investment after reaching $2M first-close fundraising milestone

U-M venture fund makes first investment after reaching $2M first-close fundraising milestone
umich.edu - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from umich.edu Daily Mail and Mail on Sunday newspapers.

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