Finance

SPONSORED BY CHEMICAL BANK

Bank of America’s planned move to a new regional office in downtown Grand Rapids comes as the bank seeks to grow its West Michigan presence.

GRAND RAPIDS — Backed with capital from a Chicago private equity firm, Grand Rapids Ophthalmology PC plans to expand across Michigan and eventually into neighboring states.

EAST LANSING — Early-stage investment fund Quantum Medical Concepts plans to invest larger amounts in health care startups after spinning off from its founding organization and securing an additional investment partner.

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. 

GRAND RAPIDS — Two acquisitions to start 2017 give Lake Michigan Insurance Agency a wider presence across the state to drive growth and pursue further deals in an era of industry consolidation.

LANSING — A group of Lansing-area investors wants to provide seed capital to one new company annually that’s just getting off the ground.

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.

The first time Jason Mejeur pitched to a prospective venture capital investor, armed with his “crappy” PowerPoint presentation to explain his concept, he failed to secure any money.

HOLLAND — A $555,000 investment gives a Holland-based sports-related mobile application developer the seed capital it needs to pursue additional clients and grow the business.

ADetroit-based nonprofit will manage a new statewide fund created to provide needed early-stage capital to startups in Michigan.

Professionals working in mergers and acquisitions in West Michigan expect strong deal flow to continue in 2017, maintaining a seller’s market.

Mergers and acquisitions within the banking industry are expected to maintain a steady pace in the new year.

MOUNT PLEASANT — Central Michigan University may launch a new graduate program later this year that would add to entrepreneurial education in the state. 

Tim Parker wasn’t actively looking for a new opportunity when he came across a LinkedIn posting that intrigued him.

GRAND RAPIDS — Three years after opening a local lending office, Horizon Bank plans to begin developing a branch network in the Grand Rapids market.

EAST LANSING — A new venture capital firm formed by Michigan State University’s research foundation targets a critical need for early-stage capital for startups in the state.

Fifth Third Bank’s $30 billion corporate commitment over the next four years for community development offers a massive pool of money for West Michigan organizations to potentially tap to fund projects and initiatives.

M&A professionals in Michigan feel a little more optimistic than their counterparts nationally about the prospects for stronger deal flow over the next year.

Of all the issues Greg Carmichael deals with each day, trust and reputation are the ones that concern him the most.

Kalamazoo-based First National Bank of Michigan plans to open a Holland office five years after moving into the Grand Rapids market.

trio of initiatives from the Michigan Economic Development Corp. aims to increase the flow of capital to startups and early-stage companies in the state.

The restoration of an angel tax credit in Michigan looks doubtful before the present legislative term expires at the end of the year.

Chris Mason and his partners wanted to use a local lender when they sought a loan to start their business in Stevensville, just north of the Indiana border in Berrien County. 

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.

GRAND RAPIDS — A strong marketplace combined with recent consolidation involving community banks lured Level One Bank from its base in suburban Detroit to the Grand Rapids market.

MIDLAND — As Chemical Financial Corp. moves toward closing its latest and largest acquisition, David Ramaker remains open to additional deals that would further expand the bank’s footprint in the Midwest.

GRAND RAPIDS — The recently announced leadership transition at Mercantile Bank Corp. has been in the works for years and should provide continuity going from one CEO to another, executives say.

GRAND RAPIDS — When he retired from Fifth Third Bank at the end of 2015, David Dams told his colleagues that he “was looking for that next new venture or adventure.”

The trade group for venture capitalists in Michigan wants to form a $100 million fund to match millions in private capital with public investment. 

Michigan needs to maintain a major push started a decade ago to diversify the state’s economy, according to a study that credits the effort with spurring greater innovation and entrepreneurship.

Bankers say they hear it regularly from their clients: It’s gotten awfully hard to find good talent these days.

Two large bank mergers affecting the Michigan market are progressing, with one securing shareholder approval and another awaiting a vote in the coming weeks.

Michigan’s largest agricultural lender views a $25,000 sponsorship and in-kind support pledged to Ottawa County’s Great Lakes Ag-Tech Incubator as a key part of its business.

Credit unions across Michigan have enjoyed strong growth in recent years.

state lawmaker wants to restore an angel investment tax credit in Michigan as a way to create a larger pool of prospective investors in startup companies.

Updates to a Michigan law now allow credit unions to branch into new services while streamlining their state regulatory burden.

State revenue from taxes paid by small businesses more than doubled as Michigan’s economy improved coming out of the Great Recession and as the overall business tax burden in the state declined.

KALAMAZOO — Life sciences startup Innovative Cardiovascular Solutions LLC of Kalamazoo netted $1.4 million so far in a push to raise up to $7 million in Series B capital. 

The opening of equity-based crowdfunding in the U.S. provides a new option for entrepreneurs to raise money from individuals who want to invest but don’t meet the definition of an accredited investor.

HOLLAND — Macatawa Bank Corp. sits in a far better position today than it did in the recent past.

GRAND RAPIDS — Commerce Bank has moved into West Michigan, seeking to carve out a role in the middle market.

When Mike Price and his colleagues formed Mercantile Bank Corp. nearly 20 years, they faced a vastly different landscape versus what exists today.

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