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$100 Million Investment Fund Set for Second-Stage Companies

Tom Lasorda (Stage 2 Innovations)

Tom Lasorda (Stage 2 Innovations)

Stage 2 Innovations, a new venture capital fund, and Automation Alley, a technology business group in Troy, Michigan, will identify companies for funding to support large-scale commercialization. The fund will support entrepreneurs with proven technologies that need financing to take their discoveries to the global market.

Tom LaSorda (pictured right), former President and CEO of Chrysler Corporation, co-founded Stage 2 Innovations in 2011. LaSorda says the $100 million fund is backed by an experienced, but anonymous, investor in start up companies with a proven track record.

Stage 2 Innovations intends to invest in companies with technologies already developed and a patent filed or awarded, with funding provided for the commercialization of those technologies. The fund also expects to provide hands-on business strategy and operational support, if required, to help position entrepreneurs and their innovations for success in the market.

Automation Alley is a regional technology and business organization in southeast Michigan. The group offers seed and early stage investment funding, backing 29 companies so far with a total of $6 million.

Read more: Venture Capital Investment Performance Improves Through 2010

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