Michigan has more angel investors than ever who invest in startup companies, but Skip Simms believes that’s still not nearly enough.
GRAND RAPIDS — Drug developer Tetra Discovery Partners Inc. plans to launch a clinical trial later this spring on a potential treatment for an autism spectrum disorder.
Angel investors offer a potential option for an entrepreneur behind an innovation or startup business who needs capital to take off. Michigan now has 10 angel investment groups, including Muskegon Angels and Holland-based Grand Angels, which this summer formed an affiliate in Kalamazoo, Ka-Zoo Angels, and looks to add others around the state. The 10 groups combined had more than 340 members at the end of 2016. MiBiz spoke with Grand Angels President Tim Parker about what angel investors seek in an investment prospect and the advice for startup companies that may be considering an angel investment.