The co-founders of Michigan ELab are Rick Bolander, who launched Blue Sky Ventures; angel investor Scott Chou; Bob Stefanski, a co-founder of software company Tibco; and Doug Neal, a serial entrepreneur behind UM's Center for Entrepreneurship.

A group of University of Michigan (UM) alumni have formed a venture capital fund that is tying to raise $40m to link the US state’s start-ups to money in California.

The co-founders of Michigan ELab are Rick Bolander, who launched Blue Sky Ventures; angel investor Scott Chou; Bob Stefanski, a co-founder of software company Tibco; and Doug Neal, a serial entrepreneur behind UM’s Center for Entrepreneurship.

Bolander, Chou, and Stefanski are all based in California while Neal will oversee the day-to-day operations having moved to Michigan from Silicon Valley in 2007.

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