Grow Michigan was launched in 2012 with the mission to grow Michigan businesses and jobs by providing growth capital to Michigan business owners who do not have the required capital to grow their business. The original Grow Michigan fund (Fund I) came to an end in 2020 having created over 3,200 Michigan jobs.

Since inception Grow Michigan’s capital has leveraged senior debt at 5.5:1 and served as a means to obtain CRA credits while providing a mezzanine solution to lower middle-market companies that is virtually unavailable elsewhere. Grow Michigan supplies capital to small to lower middle-market businesses that have outstripped their ability to borrow from traditional senior lenders.

We recognize the continued need for this funding and are currently in the process of launching a second fund, Grow Michigan II. The second fund seeks to continue the Grow Michigan mission with an increased emphasis on support for minority owned businesses. Grow Michigan II provides the engine to achieve meaningful action in inclusive wealth building through business ownership and formation. To help Grow Michigan II achieve our goals we have partnered with First Independence Bank (“FIB”), one of the largest and most successful minority owned banks headquartered in Detroit, Michigan.