ANN ARBOR – The Michigan Venture Capital Association annual meeting on Nov. 2 will this year feature a new wrinkle – the Deal of the Year and Above and Beyond awards for outstanding service to the private equity finance industry in Michigan.
Two nominees for the “Deal of the Year” award are TGap Ventures’ MinuteClinic and Beringea’s MergerMarkets.
MinuteClinic is the model of quick-service clinics in retail stores, which pioneered the market as the largest chain of retail store-based clinics in the country. In July 2006, CVS Pharmacy acquired MinuteClinic for $170 million. Mergermarket, founded in 2000, delivers real-time news about mergers and acquisition to banks, investment bankers and industry analysts, using 160 journalists in 46 locations worldwide.
Beringea invested almost $3 million in the online company five years ago from Beringea’s Global Rights Fund II, a venture-capital fund focusing on emerging content-oriented media companies in the U.S. and Europe. In August 2006, Mergermarket was sold to London-based Pearson plc for about $200 million and will operate as part of the Financial Times Group.
Nominees for the “Above and Beyond” award are Thomas Kinnear of University of Michigan Business School, Charlie Rothstein of Beringea, Dennis Bernard of Dykema Gossett and David Parsigian of Miller Canfield.
The Annual meeting is scheduled for November 2 at 5 p.m. at the Ann Arbor Four Points Sheraton, 3200 Boardwalk in Ann Arbor.
To learn more about the Michigan VCA and its activities, click on MichiganVCA.Org
