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Displaying items tagged: finance

Thursday, 13 April 2023 05:45

Michigan venture capital investment activity falls 25% in first quarter 

Venture capital investing declined in Michigan in the first quarter, following along with a steep drop-off in deal flow nationally. 

Published in Finance
Wednesday, 12 April 2023 14:09

Hagerty specialty auto insurer trims 83 more jobs to cut costs

Traverse City-based specialty auto insurer Hagerty Inc. is cutting an additional 4 percent of its workforce just months after a 6 percent cut as it seeks cost savings.

Published in Finance
Wednesday, 12 April 2023 05:45

Michigan organizations receive $34.3M in federal funds to lend in low- and moderate-income communities

Fifteen Michigan organizations are receiving $34.3 million in federal funding to support lending in low- and moderate-income markets that are still recovering from the pandemic.

Published in Finance

Tuesday, 11 April 2023 05:45

Access to credit may tighten, but Michigan banks maintain ‘strong’ health 

Michigan’s banking sector remains in good shape, despite the high-profile collapse last month of Silicon Valley Bank in California and New York’s Signature Bank that gave rise to concern about the state of the industry.

Published in Finance
Thursday, 06 April 2023 09:38

Venture capital-backed startups face tighter credit, but not ‘the end of the world’ 

Silicon Valley Bank’s epic collapse further tightens the environment for venture capital-backed companies planning to raise additional and larger capital rounds in the near future, local investors say.

Published in Finance
Wednesday, 05 April 2023 10:32

This banking crisis is nothing like 2009. Small businesses are contingency planning anyway.

It’s a painful memory: In 2009 the banking crisis and housing recession led to a credit crunch, and business owners suddenly couldn’t access the capital they needed to operate and grow.

Published in Finance

Wednesday, 05 April 2023 09:19

Acrisure acquires Polish insurance distributor to enter Central, Eastern European market

GRAND RAPIDS — Acrisure LLC has acquired a major insurance distribution platform in Central and Eastern Europe.

Published in Finance
Thursday, 30 March 2023 16:32

Grand River Bank taps Drew Ysseldyke as next president 

GRANDVILLE — Drew Ysseldyke seized an opportunity to return to his community banking roots in joining Grand River Bank.

Published in Finance
Sunday, 12 March 2023 18:00

Muskegon credit union breaks into commercial lending

MUSKEGON — A small credit union on the lakeshore has moved into commercial lending for small businesses.

Published in Finance

Sunday, 12 March 2023 18:00

Michigan banks ‘very well positioned’ to weather economic turbulence

Banks in Michigan entered 2023 in good shape financially and positioned well even if the economy enters into a recession as predicted later this year.

Published in Finance
Sunday, 12 March 2023 18:00

West Michigan lenders lean into due diligence processes ahead of possible downturn

Lenders head toward spring expecting further hikes in interest rates and with increased prospects for a mild economic recession beginning later this year.

Published in Finance
Tuesday, 07 March 2023 09:45

Michigan poised to exempt sales tax on delivery, installation services

LANSING — Michigan is poised to stop taxing delivery and installation services if they are separately stated on the invoice following a legislative deal to authorize $1.3 billion in new spending.

Published in Finance

Monday, 06 March 2023 06:00

Investment banking firm Cascade Partners expands in GR with deal for BlueWater Partners

GRAND RAPIDS — Acquiring fellow middle-market investment banking firm BlueWater Partners LLC gives Cascade Partners LLC a significant market presence in West Michigan.

Published in Finance
Tuesday, 28 February 2023 16:16

$500K grant to relaunch statewide venture capital fellowship program

A $500,000 state grant will help relaunch a statewide fellowship program to develop new talent for Michigan’s venture capital industry.

Published in Finance
Sunday, 26 February 2023 18:35

Acrisure’s $725M raise facilitates continued M&A, strategic investments

Already a top 10 global insurance brokerage and the largest acquirer of agencies in North America, Acrisure LLC raised $725 million in capital during 2022 to fuel growth and additional deals.

Published in Finance

Thursday, 23 February 2023 14:09

LMCU unionization effort spreads to Florida branch

The union that successfully organized staff at a Lake Michigan Credit Union branch near Grand Rapids has filed for another election to represent staff at an office in Florida.

Published in Finance
Friday, 17 February 2023 09:43

Charter Capital adds equity partners as part of long-term succession plan

GRAND RAPIDS — Bringing on two more equity partners gives Charter Capital Partners a deeper leadership bench to share management responsibilities as part of a long-term succession plan.

Published in Finance
Sunday, 12 February 2023 17:43

Execs partner with Charter Capital to form M&A advisory firm for lower middle market

GRAND RAPIDS — Partners in a new investment bank and M&A advisory firm in Grand Rapids are targeting opportunities in what they see as an underserved segment in the lower end of the
middle market.

Published in Finance

Wednesday, 08 February 2023 18:03

PE firm Blackford Capital raising $75M to grow portfolio companies

Grand Rapids private equity firm Blackford Capital seeks to raise $75 million to support growth at existing portfolio companies.

Published in Finance
Tuesday, 07 February 2023 16:12

$90K Wege Foundation grant to help Northern Initiatives CDFI build out client support systems

A $90,000 grant from the Wege Foundation will back the work of Northern Initiatives, a federally designated community development financial institution (CDFI) that lends to small businesses that may otherwise lack access to credit and capital.

Published in Finance
Friday, 03 February 2023 13:07

Acrisure, High Street among top insurance brokerage buyers in North America

Two of the biggest buyers of insurance brokerages in North America — Acrisure LLC and High Street Insurance Partners Inc. — both hail from Michigan.

Published in Finance

Sunday, 29 January 2023 18:00

Mercantile, ChoiceOne expand statewide reach with new loan offices

Both Mercantile Bank and ChoiceOne Bank are expanding their geographic reach by opening loan offices in new markets.

Published in Finance
Thursday, 26 January 2023 20:50

Michigan Capital Network nets $37.5M toward new VC fund

GRAND RAPIDS — Michigan Capital Network netted $37.5 million to date in its drive to raise $50 million for a fourth venture capital fund, a goal that has doubled since fundraising began in early 2022.

Published in Finance
Tuesday, 24 January 2023 09:08

New federal exemption unlocks options for small business M&A

A change in federal law opens new options for owners considering the sale of their small business.

Published in Finance

Sunday, 15 January 2023 17:08

VC investments up 9% for Michigan companies, despite declining deal volume

Venture capital investors put more money into Michigan-based companies last year, even as deal volume declined.

Published in Finance
Friday, 06 January 2023 13:45

LMCU branch workers near Grand Rapids vote to unionize

WYOMING — Workers at Lake Michigan Credit Union’s South Division Avenue branch near Grand Rapids have voted to unionize.

Published in Finance
Tuesday, 27 December 2022 13:13

Michigan Capital Network exec cites signs of resilience in state’s VC, angel investor community

Coming off what Diane Durance calls a “robust” year in 2022, Grand Rapids-based Michigan Capital Network looks to close fundraising in 2023 on a fourth venture capital fund and grow its network of angel investors.

Published in Finance

Tuesday, 27 December 2022 13:07

M&A ‘mixed bag’ expected in 2023 as interest rates, economic headwinds linger

Investment bankers and deal advisers forecast a 2023 M&A market affected, but not necessarily stymied, by rising interest rates and other economic headwinds.

Published in Finance
Thursday, 22 December 2022 11:57

Amerifirst Home Mortgage acquired by Ohio mortgage firm

Union Home Mortgage — a retail, wholesale and consumer-direct mortgage company based in Strongsville, Ohio — has acquired Portage-based Amerifirst Home Mortgage.

Published in Finance
Wednesday, 21 December 2022 18:19

Cannabis banking exec expects Michigan prices to continue falling, more M&A in 2023

Prices in Michigan’s cannabis industry plummeted in 2022, leading to some closures and layoffs, and could fall even further in 2023 as more players enter the business.

Published in Finance

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