The Fund we started a year ago had its final closing raising a total of nearly $50 million. This makes it the largest privately funded venture capital fund of funds in the nation. Now in its second year of operation, the Fund has surpassed targets in leveraging investment dollars and made a profit distribution to investors ahead of schedule. Through the end of August, the Fund has invested approximately $5.8 million in six venture capital funds. Those funds have, in turn, invested more than $23 million in twelve Michigan companies, and those twelve companies have leveraged that investment to receive over $146 million in venture capital investment from investors around the US – a 25 to 1 multiple of the Fund’s investment. Even in these very early stages, these companies have created over 200 new Michigan jobs. Our goal is to launch a second Fund in 2012. Several media outlets covered the story, including the Detroit Free Press.