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.

HOLLAND — Partners in a firm that invests in medical device innovations are considering forming a new $10 million venture capital fund to back early-stage health care startups, MiBiz has learned.

Venture capital firms in Michigan do better than their counterparts nationally, but women and minorities still account for a small number of investment professionals who work in the industry and the entrepreneurs it supports.

Venture capital investing in Michigan maintained a steady growth trajectory in 2015, but industry executives see some potential headwinds beginning to emerge for the sector.