Michigan Venture Capital Continues to Grow says 2013 Report

By Amanda Lewan on May 6th, 2014 / Comments

The Michigan Venture Capital Association recently released their 2013 research report showing an in-depth analysis of venture capital activity in the state. The numbers show significant growth with capital under management, total number of VC firms in Michigan, and number of investment deals in the past five years.

According to the report in 2013 $120 million total was invested in 40 Michigan companies, the highest number of deals since the organization began tracking this information. This was a 111% increase over the past five years.

Looking at VC firms, there was 103 active venture-backed firms in Michigan in 2013. In addition, the past five years also saw a number of venture capital investment professionals increasing by 84% in the state of Michigan, compared to a 13% decrease in investment professionals nationally.

More venture capital professionals can help spur investment growth.

“Building an entrepreneurial economy takes time, and MVCA’s data show growth in the momentum here in Michigan in both successful startups and investments,” said Carrie Jones, executive director of the Michigan Venture Capital Association. “As venture capitalists continue to raise funds here, more investors and entrepreneurs will be attracted to Michigan.”

The report also shows the importance of angel funding in Michigan, with the state having more angel investors than ever before and 36 Michigan companies receiving $9.9 million in angel and pre-seed funding. 

Michigan when compared to a national level showed growth in many areas as you can see from the report below.

VIEW THE ENTIRE 2013 REPORT  

Michigan versus Nation trends

For Startups, take note that inside this report you can find a full listing of Michigan Venture Capital firms. A great resource for those looking to for funding.

Overall, the Michigan Venture Capital Association believes there has been long-term growth that will help sustain Michigan’s entrepreneurial ecosystem. It starts with laying down the ground work, but with more capital we can attract and support more startups in Michigan.

“While all indications point to the long-term vitality of the entrepreneurial ecosystem in Michigan, there is still work to do to ensure that there remains a robust capital continuum for Michigan’s entrepreneurs and their growing companies,” Jones added. “MVCA is committed to working with its members and other stakeholders to ensure that Michigan’s entrepreneurial economy continues to grow, and that there is capital available to invest in companies choosing to startup and grow here.”

Those interested in learning more about working in the field of venture capital should make sure to check out their Venture Fellow Programs, which places individuals at Michigan VC firms across the state.

The Michigan Venture Capital Association includes more than 200 individuals are members representing 70+ organizations across the state.  The organization has been dedicated to growing investment in Michigan for over ten years. Visit www.MichiganVCA.org to learn more.

Images via MVCA.

About the Author

Amanda Lewan

Amanda Lewan

Editor @michipreneur. Co-founder Bamboo Detroit. Follow me @Amanda_Jenn. I love telling the story of entrepreneurs and innovators.