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.