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The Michigan Outdoor Innovation Fund, based in Marquette, Michigan, manages a $3 million fund dedicated to early-stage startups in outdoor innovation and recreation technology. Established to enhance Michigan's outdoor recreation industry, which contributed $10.8 billion to the state's economy in 2021, the fund is managed by InvestUP, an economic development organization focused on Michigan's Upper Peninsula.
This fund targets Michigan-based companies at the pre-seed stage, investing in outdoor mobility, wearables, trail advancements, sporting goods, tourism enhancements, clean tech, sustainability tech, and blue tech. It is part of the Michigan Innovate Capital Fund initiative, which aims to increase capital investment in early-stage technology companies across the state.
Notable portfolio companies include Grounded (electric RV company), Mullybox (golf product subscription service), Revolin Sports (pickleball equipment producer), and Hercules Electric Mobility (modular electric propulsion systems). Other investments include HOLO Footwear (sustainable footwear) and Electric Outdoors (solar-powered recreation platforms).
Email jim.baker@michiganoutdoorfund.com with your deck to pitch the fund.
Does Michigan Outdoor Innovation Fund lead rounds?
The fund typically participates in pre-seed rounds, often leading investments in its targeted sectors.
What is Michigan Outdoor Innovation Fund's stance on follow-on investments?
The fund focuses primarily on pre-seed investments but may consider follow-on funding based on the growth and needs of portfolio companies.
How large is Michigan Outdoor Innovation Fund's current fund?
The current fund size is $3 million, dedicated to supporting early-stage startups in outdoor innovation.
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