ANN ARBOR – The Michigan Venture Capital Association released their 2013 research report this week, which shows that $120 million was invested in 40 companies in Michigan, the highest number of deals since the MVCA began tracking this information, an increase of 111 percent over the last five years.
Other highlights from this report show in the last five years, the number of venture capital investment professionals increased by 84 percent in Michigan, compared to a 13 percent decrease in investment professionals nationally.
The State?s concentrated effort to kick start entrepreneurial activity has had a profound effect on the economy. Startup companies have experienced so much success in fact, that funds are being provided to help even more companies solidify their foundation for growth. Michigan has invested $12 million in the Michigan Accelerator Fund program and Huron River Ventures. Combined, these two funds have attracted an additional $106 million of private capital for early-stage companies.
