There are plenty of words that one might expect the head of a national investment group to use when describing Michigan, but "miracle" isn't one of them.

Venture capital investing in Michigan had one of its best years ever in 2012, setting the stage for what one venture investor sees as “another very big year” for further growth.

Venture capital investing in Michigan had one of its best years ever in 2012, as both deal volume and the amount invested rebounded and surpassed pre-recession levels with a boost from three larger deals.

Slow activity in venture capital funding and business starts and weak employment in the sciences and engineering put downward pressure on an index that track’s Michigan’s environment for innovation.