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Displaying items tagged: Michigan Venture Capital Association

Thursday, 28 July 2022 04:00

VC investments in Michigan companies hit new record in 2021, report finds

Venture capital investing in Michigan reached an all-time high in 2021 for the amount invested, as the industry built further momentum, continued the growth trend of several years and as the state attracted more outside investors to participate in deals.

Published in Finance
Thursday, 14 July 2022 00:08

VC investments in Michigan firms nearly double as deal volume flattens in Q2

Venture capital investing in Michigan held up well through midyear compared to national trends, as the number of deals were essentially even while the amount invested nearly doubled.

Published in Finance
Sunday, 05 December 2021 16:00

Wege Foundation’s $1M investment in minority-focused VC fund may attract more nonprofit giving

GRAND RAPIDS — The Wege Foundation’s $1 million investment committed to the New Community Transformation Fund comes from a shared vision to support greater economic diversity and inclusion in West Michigan’s economy.

Published in Nonprofits

Sunday, 07 November 2021 18:55

Ollie Howie named first managing director of minority-focused venture capital fund

The first managing director of a venture capital fund that plans to invest in businesses owned by people of color sees an opportunity to pioneer an initiative for greater economic diversity in West Michigan.

Published in Finance
Sunday, 24 October 2021 17:45

Whitmer proposes $200M in federal pandemic relief for tech startups

Gov. Gretchen Whitmer seeks to inject $200 million into Michigan technology startups using federal pandemic relief funds.

Published in Finance
Sunday, 09 May 2021 17:20

Michigan VC industry focuses on cultivating more diversity in staff, investments

Michigan’s venture capital industry made modest strides in the last few years to create greater diversity within its ranks and in the number of startups run by women or minorities that receive investments.

Published in Finance

Sunday, 25 April 2021 16:00

Report: Venture capital investments cut in half during pandemic

Venture capital investors in Michigan backed more startup companies in 2020 than ever before, though the amount they put into deals declined by half in a year when the COVID-19 pandemic altered deal flow.

Published in Finance
Sunday, 14 February 2021 18:00

Grand Angels and affiliates reorganize to accommodate growth, promote diversity

A restructuring for Grand Angels in 2021 aims to create understanding about angel investing and greater diversity among investors and their deals.

Published in Finance
Sunday, 06 December 2020 18:15

Reporter's Notebook: Getting to know you

Raising capital for a startup company is never easy, though there are steps entrepreneurs with a dream and a vision can take to help their cause.

Published in Finance

Sunday, 06 December 2020 18:10

Grand Angels taps Dale Grogan as managing partner to expand reach across state

GRAND RAPIDS — The new managing partner for Grand Angels looks to tap his statewide contacts to build a bigger presence among early-stage investors.

Published in Finance
Wednesday, 30 September 2020 16:45

Grand Rapids venture capital fund secures millions for minority-owned companies

A Grand Rapids-based venture capital fund that will invest nationally in companies owned by minorities has secured commitments now totaling $6.25 million, with potentially millions more on the way.

Published in Finance
Sunday, 27 September 2020 18:15

Pandemic disruption creates new opportunities for angel investors

After taking a step back in the early months of the COVID-19 pandemic, angel investors say they are actively seeking deals, particularly in startups that are able to take advantage of the resulting economic disruptions.

Published in Finance

Sunday, 27 September 2020 17:22

Despite recent progress, diversity gap remains in venture capital

Just 13 of the 80 venture capital professionals working in Michigan in 2019 were racial minorities. An equal number of all VC professionals in the state, or 16 percent, were women.

Published in Finance
Sunday, 02 August 2020 17:00

New diversity-focused VC fund seeks $5M locally before making national pitch

GRAND RAPIDS — A new venture capital fund to invest in businesses owned by racial and ethnic minorities looks to secure financial backing locally before reaching out nationally for investors.

Published in Finance
Sunday, 26 April 2020 17:33

Michigan’s VC industry soars in 2019; pandemic cools outlook for 2020

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.

Published in Finance

Monday, 13 April 2020 05:04

Venture capital pours record $2.06 billion into Michigan companies in 2019

Venture capital firms invested a record amount into Michigan-based companies in 2019, led by a Plymouth-based automotive technology company that accounted for three-quarters of the total.

Published in Finance
Sunday, 02 February 2020 16:40

Backers hope new VC fund spurs more inclusive West Michigan economy

GRAND RAPIDS — The Right Place Inc.’s new venture capital fund plans to target investments toward an area of the economy where capital historically has flowed the least: startups and businesses owned by racial and ethnic minorities.

Published in Finance
Sunday, 02 February 2020 16:30

Grand Angels raises $11.7 million for third VC fund

GRAND RAPIDS — After completing fundraising at the end of 2019, Grand Angels has a couple of new deals in the works for its latest venture capital fund.

Published in Finance

Sunday, 02 February 2020 16:25

SEC considers modernizing accredited investor definition

If federal regulators want to increase the flow of capital to startups across the U.S., Tim Parker suggests they consider creating a new class of investor.

Published in Finance
Thursday, 23 January 2020 11:00

The Right Place plans new fund to invest up to $25 million in minority businesses

GRAND RAPIDS — Aiming to create greater ethnic and racial diversity in business ownership across the region, The Right Place Inc. teamed with Bank of America and the Consumers Energy Foundation to form a capital investment fund.

Published in Economic Development
Friday, 17 January 2020 12:26

VC firms invested $7 million in West Michigan firms during fourth quarter

West Michigan companies secured a collective $7 million in later-stage venture capital during the fourth quarter, as investments in Michigan reached a new high.

Published in Finance

Sunday, 24 November 2019 17:30

Additional scale positions Grand Angels for larger deals

GRAND RAPIDS — The $1.4 million investment in Portage-based Micro Laser Assisted Machining Technologies LLC represents the largest single investment ever for Grand Angels and its affiliated angel groups and venture capital fund.

Published in Finance
Sunday, 01 September 2019 16:56

Great Lakes VC funds increasingly look locally for deals

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.

Published in Finance
Sunday, 23 June 2019 19:00

Concept for regional fund to back Great Lakes VC investors faces key hurdles

The idea sounds simple: Create a $150 million to $200 million fund supported by foundations and university endowments to back venture capital investors in the Great Lakes states.

Published in Finance

Sunday, 23 June 2019 19:00

Start Garden sets goals to boost assistance for minority-owned tech startups

GRAND RAPIDS — Start Garden Inc. says it’s gaining traction on an effort launched two years ago that put more emphasis on diversity.

Published in Small Business
Sunday, 28 April 2019 18:17

Michigan VC industry makes gains in diversity, still ‘room for improvement’

As Michigan’s venture capital industry made further gains in 2018, it made some progress on one front that’s been the focus of attention the last few years: Diversity. Statistics tucked into the Michigan Venture Capital Association’s 2019 research report show an uptick over five years in investments into startups companies led by women and minorities.

Published in Finance
Tuesday, 16 April 2019 09:11

Michigan firms raised record $385 million in VC in 2018

Venture capital funds based in Michigan more than doubled the amount they invested in startups in 2018, although the money went to fewer companies.

Published in Finance

Sunday, 03 March 2019 21:40

Grand Angels grows statewide network with new Detroit affiliate

Grand Angels’ formation of an affiliate investment group in Detroit brings more capital and investors into the field to support startup companies in Michigan. 

Published in Finance
Sunday, 17 February 2019 21:14

Grand Rapids, Start Garden hone SmartZone focus with proposed new contract

GRAND RAPIDS — A proposed contract between Start Garden Inc. and the Grand Rapids SmartZone would put in place new goals for fostering local tech startups. Rather than focusing on certain activities, the proposed contract establishes outcomes such as adding 10 new tech startups annually to the SmartZone service area, with six of those companies over two years owned by minorities or women, and providing service to 15 startups a year through its business incubator on Pearl Street in downtown.

Published in Economic Development
Sunday, 28 October 2018 15:12

Ka-Zoo Angels offers funding options to SW Michigan entrepreneurs

KALAMAZOO — The Kalamazoo affiliate of Grand Angels easily exceeded expectations after launching more than a year ago.

Published in Small Business

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