rss icon

Wednesday, 10 October 2018 14:54

Fewer deals, larger investments in Michigan Q3 venture capital deals

Written by 
Rate this item
(0 votes)

Venture capital investors made fewer deals in Michigan during the third quarter than the same period a year earlier, although the amount invested more than tripled.

VC firms invested $169.6 million in 26 deals in Michigan from July to September, according to a quarterly report from and the National Venture Capital Association. That compares to 30 deals for $53.1 million in the third quarter of 2017.

The top Michigan deal listed in the quarterly report was for Detroit-based online retailer StockX Inc., which received $44 million from Detroit Venture Partners; Battery Ventures in Boston; CourtsideVC, which has offices in Detroit and New York City; and a number of individual investors.

The lone West Michigan deal during the quarter was in September, a $10 million investment by Princeton, N.J.-based Edison Partners in Grand Rapids-based enterprise software developer Blue Medora LLC.

Through three quarters of 2018, venture capital investing in Michigan totaled $389.8 million through 79 deals, versus 80 deals for $255.7 million through the first nine months of 2017.

Nationwide, venture capital investing topped $27.8 billion for the quarter through 1,937 deals. That compares to 2,240 deals for $24.1 billion in the same period a year earlier.

Year-to-date, venture capital investing in the U.S. totals 6,583 deals for $84.3 billion, compared to 7,061 deals for $62.0 billion through nine months of 2017. Investors also put more money into larger, later-stage capital rounds through deals.

“The first three quarters of 2018 show that the investment environment for venture-backed companies is the strongest it has been in well over a decade,” said Bobby Franklin, president and CEO of NVCA. “The ongoing trend of concentration of capital into fewer, larger investments appear to be the new status quo for the venture industry – not a passing phase as was once believed. We see this transformative shift reverberating across all stages and sectors.”

Read 400 times Last modified on Wednesday, 10 October 2018 15:45

Breaking News

October 2018
30 1 2 3 4 5 6
7 8 9 10 11 12 13
14 15 16 17 18 19 20
21 22 23 24 25 26 27
28 29 30 31 1 2 3

Follow MiBiz