University of Michigan's Frankel Fund leads investment in Fusion Coolant
The Frankel Commercialisation Fund, in collaboration with The Samuel Zell & Robert H Lurie Institute for Entrepreneurial Studies at the University of Michigan Ross School of Business, has invested in Fusion Coolant Systems, a developer of an advanced coolant and lubrication system that makes manufacturing more efficient.
The Frankel Fund's USD80,000 investment was part of a USD600,000 series A round that also included the Amherst Fund, Spark's Michigan Pre-Seed Capital Fund and previous investors.
Part of a trifecta of student-led venture funds at the University of Michigan, the Frankel Fund is a pre-seed investment fund established to identify and accelerate the commercialisation of ideas generated within the University community and the surrounding area. The Fusion Coolant deal marks the fund's seventh investment and the third investment in a manufacturing enhancement technology company, including SurMod and Arbor Photonics, which was recently acquired by nLIGHT.
"The Frankel Fund provides graduate students unparalleled, behind-the-scenes access to early stage investing," says Tom Porter (pictured), director of the Frankel Fund and executive in residence at the Ross School. "The teams function as independently financed venture capital companies and did a stellar job identifying the investment opportunity in Fusion Coolant and driving the entire due diligence process on behalf of all investors. We were pleased that we could lead this round of investment."
"It's gratifying to bring a disruptive metal working coolant technology to market that offers customers the opportunity to achieve the next level of lean manufacturing processes," says Tom Gross, chief executive, Fusion Coolant Systems. "With the lead funding from The Frankel Fund, we're now able to accelerate our growth and excited to deliver increased value to customers seeking ways to improve productivity while saving money."
- By Category
- News from other sites
- Special Reports
- By Location
- By Subject
Latest Special Report