Displaying items tagged: Michigan Venture Capital Association

Venture capital investing declined in Michigan in the first quarter, following along with a steep drop-off in deal flow nationally. 

A $500,000 state grant will help relaunch a statewide fellowship program to develop new talent for Michigan’s venture capital industry.

Venture capital investing in Michigan reached an all-time high in 2021 for the amount invested, as the industry built further momentum, continued the growth trend of several years and as the state attracted more outside investors to participate in deals.

Venture capital investing in Michigan held up well through midyear compared to national trends, as the number of deals were essentially even while the amount invested nearly doubled.

GRAND RAPIDS — The Wege Foundation’s $1 million investment committed to the New Community Transformation Fund comes from a shared vision to support greater economic diversity and inclusion in West Michigan’s economy.

The first managing director of a venture capital fund that plans to invest in businesses owned by people of color sees an opportunity to pioneer an initiative for greater economic diversity in West Michigan.

Gov. Gretchen Whitmer seeks to inject $200 million into Michigan technology startups using federal pandemic relief funds.

Michigan’s venture capital industry made modest strides in the last few years to create greater diversity within its ranks and in the number of startups run by women or minorities that receive investments.

Venture capital investors in Michigan backed more startup companies in 2020 than ever before, though the amount they put into deals declined by half in a year when the COVID-19 pandemic altered deal flow.

A restructuring for Grand Angels in 2021 aims to create understanding about angel investing and greater diversity among investors and their deals.

Raising capital for a startup company is never easy, though there are steps entrepreneurs with a dream and a vision can take to help their cause.

GRAND RAPIDS — The new managing partner for Grand Angels looks to tap his statewide contacts to build a bigger presence among early-stage investors.

A Grand Rapids-based venture capital fund that will invest nationally in companies owned by minorities has secured commitments now totaling $6.25 million, with potentially millions more on the way.

After taking a step back in the early months of the COVID-19 pandemic, angel investors say they are actively seeking deals, particularly in startups that are able to take advantage of the resulting economic disruptions.

Just 13 of the 80 venture capital professionals working in Michigan in 2019 were racial minorities. An equal number of all VC professionals in the state, or 16 percent, were women.

GRAND RAPIDS — A new venture capital fund to invest in businesses owned by racial and ethnic minorities looks to secure financial backing locally before reaching out nationally for investors.

The number of angel investors expanded again, the average size of Michigan-based venture capital funds increased, and even if you exclude major deals as one-time outliers, the amount invested last year still grew.

Venture capital firms invested a record amount into Michigan-based companies in 2019, led by a Plymouth-based automotive technology company that accounted for three-quarters of the total.

GRAND RAPIDS — The Right Place Inc.’s new venture capital fund plans to target investments toward an area of the economy where capital historically has flowed the least: startups and businesses owned by racial and ethnic minorities.

GRAND RAPIDS — After completing fundraising at the end of 2019, Grand Angels has a couple of new deals in the works for its latest venture capital fund.

If federal regulators want to increase the flow of capital to startups across the U.S., Tim Parker suggests they consider creating a new class of investor.

GRAND RAPIDS — Aiming to create greater ethnic and racial diversity in business ownership across the region, The Right Place Inc. teamed with Bank of America and the Consumers Energy Foundation to form a capital investment fund.

West Michigan companies secured a collective $7 million in later-stage venture capital during the fourth quarter, as investments in Michigan reached a new high.

GRAND RAPIDS — The $1.4 million investment in Portage-based Micro Laser Assisted Machining Technologies LLC represents the largest single investment ever for Grand Angels and its affiliated angel groups and venture capital fund.

Grand Ventures I LP’s lead investment in a Chicago digital health company typifies what’s occurring in venture capital in Michigan and neighboring states: Funds based in the region are backing Great Lakes-based startups.

The idea sounds simple: Create a $150 million to $200 million fund supported by foundations and university endowments to back venture capital investors in the Great Lakes states.

GRAND RAPIDS — Start Garden Inc. says it’s gaining traction on an effort launched two years ago that put more emphasis on diversity.

As Michigan’s venture capital industry made further gains in 2018, it made some progress on one front that’s been the focus of attention the last few years: Diversity. Statistics tucked into the Michigan Venture Capital Association’s 2019 research report show an uptick over five years in investments into startups companies led by women and minorities.

Venture capital funds based in Michigan more than doubled the amount they invested in startups in 2018, although the money went to fewer companies.

Grand Angels’ formation of an affiliate investment group in Detroit brings more capital and investors into the field to support startup companies in Michigan.