ANN ARBOR – The Venture Michigan Fund II has made a $15 million investment in Venture Investors Early Stage Fund V, a venture capital fund that will invest in life science, cleantech and other high-tech companies in Michigan and the Midwest.
Credit Suisse?s Customized Fund Investment Group manages VMF II, which plans to invest $120 million into venture capital funds during the three-year investment period. The Venture Investors was the fifth investment commitment VMF II has made.
Venture Investors V will focus investing in companies that evolve from research universities in Michigan and across the Midwest. The VC fund plans to make 15 to 18 investments in the range of $7.5 million to $12.5 million. The fund seeks to raise about $150 million.
Venture Investors has a lot of experience investing in Michigan. The firm?s Ann Arbor office is lead by long-time Michigan venture capitalist Jim Adox. But the company?s headquarters is Madison, Wis. As of September 2011, Venture Investors has made four investments in Michigan-based companies, totaling $13 million.
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