LANSING – A total of 11 companies have invested $57 million in venture capital deals in Michigan during the first six months of 2011, according to data reviewed by the Wall Street Journal’s online edition.
But the state lags many other states in terms of the number and amount of venture capital deals done so far this year, the paper said.
California saw nearly $7 billion in venture capital deals during the first six months, while Massachusetts saw $2 billion, New York $1.1 billion, Virginia $500 million, Texas $400 million, Illinois $300 million, Colorado $290 million, Pennsylvania $275 million, Georgia $250 million and $230 million in Washington.
The bulk of the deals in Michigan was represented by four companies that made deals totaling $41 million in the Detroit area. Grand Rapids saw two companies making deals of $8 million, while two companies in Ann Arbor made deals totaling $7 million. Finally, three companies made deals totaling $1 million in Kalamazoo.
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