New England News
Sat June 28, 2014
MassMutual Announces Springfield Venture Fund
One of the oldest and biggest businesses in western Massachusetts is launching an effort to help grow small start-up companies.
MassMutual is putting $5 million into a venture capital fund for new businesses in Springfield. MassMutual Vice President Nick Fyntrilakis said it means entrepreneurs with a good idea and a sound business plan will not have to leave Springfield to find investors to help get the business off the ground.
" We felt by applying our investment tools and the dollars we have and expertise it is going to be very meaningful for Springfield."
MassMutual is also donating $1.5. million to build office space for an accelerator program for business start-ups.