Michigan Endowment to Invest $50 Million in Tech-Lending Fund
- Partners for Growth Fund V lends to emerging tech companies
- University of Michigan endowment valued at $10.7 billion
This article is for subscribers only.
The University of Michigan’s endowment plans to put $50 million in an investment fund that lends directly to emerging technology companies in the U.S. and Australia, adding to its credit strategy.
The team behind Tiburon, California-based Partners for Growth Fund V, led by Michigan alum Andrew Kahn, has been lending to new tech firms since the 1980s and has an “exceedingly low” principal loss rate and “above average” investment returns, according to the agenda of the school’s April 20 board of regents meeting.