Saranac VC fund eyes Michigan green companies

Saranac-based venture capital firm NXGen Holdings expects by the end of 2009 to add between eight and 15 new jobs between West Michigan and Mid-Michigan as part of an aggressive acquisition campaign that will target companies working with green technology.

The new jobs would develop in what White describes as the new technologies and innovation industry.

NxGen, which is owned by Green Bridge Industries, says it is looking for companies working with environmentally friendly technologies or products that are looking to make the leap from research and development to serious revenue generation.

William White, chairman and CEO of NXGen Holdings, said the company also plans to open a research and development lab somewhere in Michigan as part of the company’s growth strategy.

The acquisition strategy, according to White, is designed to bolster the company’s positioning to add shareholder value and bottom-line earnings. He said companies dealing in environmentally friendly products or technology may benefit from the strong corporate structure NXGen Holdings would offer.

While the company is interested in Michigan-based acquisition targets, White said it will not look exclusively in the state to find companies to acquire.

Source: William White, NXGen

Deborah Johnson Wood is development news editor for Rapid Growth. She can be contacted at [email protected]
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