University of Michigan students start nation’s first venture capital fund for social benefits

The University of Michigan’s third student-led venture capital fund plans to make its first investment in early 2011.

The twist: The new investment vehicle, called the Social Venture Fund, will seek out investments that will eventually reap financial returns for the fund in addition to societal benefits.

The fund, officially launched in fall 2009, is the third fund led by students at the Zell Lurie Institute for Entrepreneurial Studies at U-M’s Ross School of Business. The others are the Wolverine Venture Fund and Frankel Commercialization Fund.

U-M, in a news release, described the fund as the "first of its kind in the nation."

By: Nathan Bomey

Full Story: http://www.annarbor.com/business-review/social-venture-fund-university-of-michigan-zell-lurie-institute-venture-capital/