Grand Ventures I LP’s lead investment in a Chicago digital health company typifies what’s occurring in venture capital in Michigan and neighboring states: Funds based in the region are backing Great Lakes-based startups.
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.
Venture capital investors put more money into a similar numbers of deals in 2017 compared to the prior year, a sign that target companies are maturing and securing larger capital rounds.
Enterprise software developer Blue Medora LLC has raised another $8 million in capital that will support continued growth.
Venture capital investors say work over more than a decade to spur greater innovation and build a better entrepreneurial climate in Michigan has provided them with better investment prospects.
Four of the top five investments by venture capital firms in the state went to West Michigan companies in the third quarter.
GRAND RAPIDS — Software development firm Blue Medora LLC raised nearly $7.5 million in capital in what one expert calls a “tough” but “good” environment for companies seeking investors.