A new Kalamazoo-based venture capital fund closed on its first fundraising phase, although organizers hoped by now to have moved closer toward their $10 million goal.
Two venture capital deals involving West Michigan companies follow a national first quarter trend of investors funding businesses in the later stages of development that have greater capital needs.
Venture capitalists cut more deals in Michigan in 2013 than in any other year on record, although the dollar amount of their investments declined sharply from the prior year.
In August, as Founders Brewing Co. bottled its just-brewed Breakfast Stout, Sarah Aldrich took the opportunity to stage a spontaneous product shot. The communications manager for the Grand Rapids-based craft brewery grabbed a bottle that had just come off the line and plopped it down in a pile of chocolate used to brew the seasonal label.
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.
Investors say once Michigan’s maturing life sciences industry can regularly generate success stories, the chances are that more venture capital will follow.