LANSING — A group of Lansing-area investors wants to provide seed capital to one new company annually that’s just getting off the ground.
The dozen partners in Altruis Capital LLCeach put a few thousand dollars into the capital fund. They’re now scouting for a startup company that can use seed funding of $20,000 to $30,000 to get started on commercializing an innovation.
Altruis Capital will seek investment prospects from across the state with a focus on the Lansing area, said Tom Stewart, a founding member and managing partner at Common Wealth Enterprises LLCin Lansing.
Partners in the fund don’t have enough to invest individually or to become involved in an angel investment group, so they opted to pool their money in Altruis to support entrepreneurism, Stewart said.