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Michigan Capital Network has successfully raised $25.4 million from 45 investors for its fifth venture capital fund, which targets critical technologies for national defense. Led by CEO Paul D'Amato, the Grand Rapids-based firm aims to secure a U.S.

Small Business Administration match to potentially double the fund size to over $50 million. It is the only Midwest firm selected for the SBA and U.S. Department of Defense's Critical Technologies Initiative, collaborating with a nonprofit in Ann Arbor to enhance deal flow with vetted early-stage defense startups.