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.

The number of venture capital deals in Michigan held relatively steady through the third quarter of 2017 compared to the same period a year earlier, although the amount invested declined.

GRAND RAPIDS — In seeking to raise up to $50 million for its first fund, Grand Ventures I LP could soon add to the availability and accessibility of venture capital in Michigan. 

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.

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.