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New England News

MassMutual Announces Springfield Venture Fund

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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.