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TO BUSINESS, EDUCATION, AND NATIONAL EDITORS:
University of Michigan Ross School of Business Student-led Social
Venture Fund Invests in Powerhouse Dynamics
ANN ARBOR, Mich., April 17, 2014 /PRNewswire-USNewswire/ -- The Samuel
Zell & Robert H. Lurie Institute for Entrepreneurial Studies at the
University of Michigan's Stephen M. Ross School of Business today
announced that its Social Venture Fund, the nation's first student-led
impact investing fund, has participated in a bridge financing round
for Powerhouse Dynamics, a cloud-based provider of enterprise energy
and asset management solutions. Powerhouse Dynamics secured Series A
financing from a diverse group of early stage venture capital firms
and angel groups. This marks the student-led fund's fourth investment.
The Social Venture Fund makes early-stage investments of up to
$100,000 in sustainable and innovative, for-profit organizations that
deliver financial returns and place the generation of a significant
social impact at the heart of their mission. It is managed by Uday
Rajan, professor of finance at the Ross School of Business and by a
team of 30-35 MBA students, many of whom are pursing dual-degrees with
education, environment, health, law and public policy.
A team of seven students led by Sid Roy, MBA '14 and Will Kletter,
MBA/MS '16, sourced the deal and conducted in-depth due diligence on
the company.
"Our ability to leverage the expertise of our Erb dual degree members
was immensely helpful in the due diligence process and speaks to the
unique value that the Ross program can provide to Powerhouse Dynamics
and cleantech firms moving forward," said Roy.
Kletter adds, "Our decision to invest in Powerhouse Dynamics was
largely driven by the management team's demonstrated ability to
effectively deploy its patented technology in a large and growing
market. With enormous opportunity to deliver value to customers in
various market segments and a quantifiable social impact, Powerhouse
emerged as an excellent company for the Social Venture Fund to
support."
Powerhouse Dynamics' SiteSage platform is a resource and asset
management system for small commercial facilities that helps business
owners manage energy consumption and improve business operations.
Powerhouse's primary value is helping its customers reduce their
energy use, which also provides a strong, quantifiable social impact
in terms of reduced carbon emissions and air pollution. Pilot systems
have been deployed in national fast food and restaurant chains
including select Arby's, Chili's and Texas Roadhouse locations.
"Throughout this process, the Ross students have demonstrated a keen
understanding of our business, coupled with a broader sense of the
market dynamics that create opportunity for Powerhouse's solutions,"
said Martin Flusberg, CEO, Powerhouse Dynamics. "We look forward to
partnering with the Social Venture Fund team and anticipate future
opportunities to engage their consulting and research expertise on
various growth strategy-related projects."
To date, the Social Venture Fund is the only university impact
investing fund with active investments. Along with the Wolverine
Venture Fund and Zell Commercialization Fund, the Social Venture Fund
completes the Ross trifecta of student-led venture funds managed by
the Zell Lurie Institute. Together, these funds immerse 90 graduate
students, from multiple disciplines, in experiencing all aspects of
venture capital investing.
About Powerhouse Dynamics Powerhouse Dynamics is a privately held
technology firm focused on using cloud-enabled controls and analytics
to deliver energy and operational efficiencies to its customers.
Thousands of locations, including restaurants, convenience stores,
retailers and others, use its SiteSageTM platform to reduce operating
costs by centralizing control, analysis and management of
energy-consuming equipment. Engineered specifically for smaller
facilities, SiteSage features powerful analytics delivered via a
simple online and mobile interface. The system continuously improves
efficiency by controlling major loads, monitoring power consumption
and performance of individual pieces of equipment and tracking gas and
water usage. Advanced analytics deliver actionable intelligence via
diagnostics and alerts, and SiteSage's enterprise-wide benchmarking
helps identify stars and underperforming assets. To learn more about
how Powerhouse Dynamics' customers maximize energy and equipment
maintenance savings with minimal staff effort,
visit www.powerhousedynamics.com.
About the Samuel Zell & Robert H. Lurie Institute for Entrepreneurial
Studies The Institute and its Center for Venture Capital and Private
Equity Finance, at the University of Michigan Stephen M. Ross School
of Business, bring together a potent mix of knowledge, experience and
opportunities from the front lines of entrepreneurship and alternative
investments. The student learning experience is further enhanced
through internships, entrepreneurial clubs and events that serve to
provide viable networks and engage the business community. The
School's three student-led investment funds, with over $6.5M under
management, immerse students in the business assessment and investment
process. Founding Board Members include Samuel Zell, Chairman of
Equity Group Investments, and Eugene Applebaum, Founder of Arbor
Drugs, Inc. For more information, visit the Institute at
www.zli.bus.umich.edu.
About the Stephen M. Ross School of Business The Stephen M. Ross
School of Business at the University of Michigan is a vibrant and
distinctive learning community grounded in the principle that business
can be an extraordinary vehicle for positive change in today's dynamic
global economy. At the Ross School of Business, our mission is to
develop leaders who make a positive difference in the world. Through
thought and action, members of the Ross community drive change and
innovation that improves business and society.
The Ross School is consistently ranked among the world's leading
business schools. Academic degree programs include the Full-time MBA,
Part-time MBA (Evening and Weekend formats), Executive MBA, Global
MBA, Master of Accounting, Master of Supply Chain Management, Master
of Entrepreneurship, BBA, and PhD. In addition, the school delivers
non-degree, open-enrollment and custom executive education programs
targeting general management, leadership development, and strategic
human resource management.
SOURCE The Zell Lurie Institute
-0- 04/17/2014
/CONTACT: Rachel Schlacter, Version 2.0 Communications, 617-426-2222, rschlacter@v2comms.com; Mary Nickson, Samuel Zell and Robert H. Lurie Institute for Entrepreneurial Studies, 734-615-4424, mnickson@umich.edu
/Web Site: http://www.zli.bus.umich.edu
CO: The Zell Lurie Institute
ST: Michigan
IN: FIN EDU HED
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-- DC07274 --
0000 04/17/2014 12:00:00 EDT http://www.prnewswire.com
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