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EAST LANSING, Mich. — Michigan Rise Pre-Seed Fund III announced today that it closed investments in 5 companies in December and January, bringing total capital invested by the Fund to $1.56 Million in 13 companies across Michigan. The Fund’s latest investment is in SightLine, based in Hancock, MI.
“It has been rewarding to launch the new fund and impact so many great leaders and innovative companies. We are looking forward to the success of these companies and the impact they will have on creating jobs and opportunities for the State of Michigan” said Jeff Wesley, Executive Director of Michigan Rise. “Our team has accomplished a lot in a short time. We appreciate the support of the Michigan State University Foundation and the Michigan Economic Development Corporation. A lot of metrics to highlight but one that comes to mind is that 69% of our portfolio companies are led by underserved founders, a testament to Michigan Rise’s commitment to diversity and inclusion”, Wesley added.
The five new companies in Michigan Rise’s portfolio are:
Asalyxa Bio, a spinout company from the University of Michigan, is developing therapies for acute organ injuries, with Acute Respiratory Distress Syndrome (ARDS) as its first indication. Its lead molecule, ASX-100, is expected to yield significant improvements over the current standard of care for ARDS.
DietID is a health and wellness company whose digital toolkit reinvents dietary assessment and management with an innovative, clinically tested visual approach which is up to 10X faster and more affordable than traditional solutions such as Food Frequency Questionnaires. For more information, please visit dietid.com.
Espervita Therapeutics is developing metabolic reprogramming therapies for common forms of cancer, starting with Hepatocellular Carcinoma (HCC) as its first indication. For more information, please visit espervita.com.
PocketNest sells subscription-based software as a white-labeled product to financial institutions such as credit unions, to provide Gen-X and Millennial users with customized financial planning recommendations. For more information, please visit pocketnest.com.
SightLine suite of predictive analytic products helps small to medium-sized higher education institutions use historical data to preemptively predict and respond to student success, enrollment, recruiting, financial aid budgeting, and price optimization. For more information, please visit sightlinedata.com.