Ann Arbor-based venture capital firm Huron River Ventures closes $11m investment fund.

Huron River Ventures, a clean tech focused VC firm, has closed an $11m fund which will aim to invest in startups around the Michigan area, including spin-outs from the University of Michigan.

The fund has been raised from a $6m contribution from the state of Michigan, as well as local institutions and around 50 private investors.

Huron River has already begun making investments in the area, including an unspecified sum in University of Michigan spin-out Ambiq Micro.

Tim Streit, managing partners at Huron, said: “We are less than 30 percent deployed. We have significant capital resources from our existing portfolio to help them with their growth.”