Middle Bit: St. Louis announces $5 million seed stage fund

Clay & Milk The Spirit of St. Louis was originally an airplane. Photo courtesy of Creative Commons, licensed by CC-BY-SA-3.0.

The St. Louis region created the $5 million “Spirit of St. Louis Fund” to address the seed-funding gap, according to a story Wednesday on siliconprairienews.com.

According to the story, the St. Louis Regional Chamber of Commerce, Cultivation Capital and Twain Financial Partners along with several of the region’s banks created the fund. The Spirit of St. Louis Fund isn’t the first investment the Regional Chamber has made directly into the St. Louis startup ecosystem. The organization has put more than $1 million in capital into several area funds and accelerators.

According to the story, those investments have resulted in nearly $100 million in follow-up capital and the creation of more than 600 jobs.

What else happened

Colorado

BillingPlatform—a billing software provider—based in Eaglewood, Colo. raised $4 million in funding. Investors include Columbia Capital – Billinplatform.com

Illinois

Wise Apple—a direct-to-consumer meal delivery service—based in Chicago, raised $3.6 million in seed funding. Pritzker Group Venture Capital and Levy Family Partners led the round and were joined by investors including Chicago Ventures, Greycroft, BoxGroup and Irish Angels. – BuiltinChicago.org

Iowa

STEAM labs and art gallery to share space in Bettendorf – QCtimes.com

Reports of Rockwell Collins acquisition continue – TheGazette.com

WATCH: Main Frame studios in Des Moines prepares for its opening – Mainframe Studios

Michigan

CHT Group acquired ICM Silicones Group, a Cassopolis, Mich.-based maker of specialty silicone materials. The sellers were Century Park Capital Partners and Akoya Capital Partners. Financial terms weren’t disclosed. – Businesswire.com

Missouri

eSports isn’t just for jocks – StartlandNews.com