Michigan Venture Capital Association Names Award Winners

DETROIT – The Michigan Venture Capital Association celebrated the state’s entrepreneurial ecosystem at its 2025 Annual Awards Celebration held earlier this month at Elevate at One Campus Martius.

During the event, MVCA presented awards highlighting capital events driving the growth of Michigan companies, significant investment milestones propelling businesses forward, innovative companies developing groundbreaking solutions, and organizations actively engaging with their communities to strengthen local economies.

The sold-out event drew over 250 attendees from across the state to honor the achievements of Michigan’s entrepreneurial and investment community.

Awardees of the 2025 MVCA Annual Awards celebration were voted on by MVCA members in each category. They include:

Mike Blue (HistoSonics), Entrepreneur of the Year
CircNova, Up-and-Coming Company of the Year
Ann Arbor SPARK, Community Impact Award
Michigan Innovation Fund, Capital Event of the Year – Venture Capital Fund
ONL Therapeutics, Capital Event of the Year – Portfolio Company
Ambiq, Exit of the Year
HistoSonics, Mega Deal of the Year

“This past year has been one of the strongest in memory for Michigan’s entrepreneurial and investor ecosystem. We’ve seen more exits than in recent years, the landmark HistoSonics mega-deal that has drawn national recognition, and the creation of the Michigan Innovation Fund — a transformative milestone that will fuel the next generation of startups. It’s proof that Michigan’s collaborative ecosystem continues to drive meaningful growth, attract capital, and strengthen our position as a leader in innovation” said Ara Topouzian, Executive Director of MVCA.

The Hall of Fame award recognizes individuals whose achievements have had pivotal influence on Michigan’s entrepreneurial and investment ecosystem. The following recipient has paved the way for the next generation of investors in the community through their leadership and expertise:

Jim Adox is the Executive Managing Director of Venture Investors Health Fund in Ann Arbor, bringing more than 25 years of venture capital experience to the medical devices, diagnostics, and digital health sectors. Since joining the firm in 2006, Jim has led and supported investments in transformative healthcare companies, including HistoSonics—where he guided early financings and helped drive a $2.25 billion change-in-control transaction—ViaLase, EarliTec Diagnostics, and Dvant Pharma. A co-founder and former CEO of Tissue Regeneration Systems (acquired by Johnson & Johnson and Medtronic), Jim has also played pivotal roles in successful exits such as NeuMoDx ($310M, Qiagen) and LenSx ($744M, Alcon).

With two issued U.S. patents in medical devices and prior operational experience across multiple countries, Jim combines technical expertise, business acumen, and global perspective. Deeply engaged in the Michigan venture ecosystem, he has held leadership roles with the Michigan Venture Capital Association and is currently the Chair of The University of Michigan College of Engineering Leadership Advisory Board and a board member of the University’s Innovation Partnerships National Advisory Board. Jim is a three-time UM alumni.

All past recipients of the Lifetime Achievement award have been automatically inducted into the Hall of Fame. They include Chris Rizik (2024), Tim Petersen (2024), Skip Simms (2023), Sam Valenti (2022), Jody Vanderwel (2018), Ian Bund (2017), Tom Porter (2015), Michael Finney (2014), Tom Kinnear (2013), Don Walker (2012), David Brophy (2009), and Dick Eidswick (2007).

2025 MVCA Annual Awards Finalists Include:

Entrepreneur of the Year

Recognizes founders of Michigan-based, venture-backed companies that have fostered a vibrant entrepreneurial community. Nominees are innovators who are setting the stage for the next generation of startups and entrepreneurs in Michigan.

Mike Blue | Chair, CEO & President, HistoSonics
Kevin Heras | Co-Founder & CEO, InvestNext
Deepak Menon | Founder & CEO, Micro-LAM
Robert Wolfe | Co-Founder, Zeck

Up-and-Coming Company of the Year

Recognizes Michigan companies across all stages of growth that are producing groundbreaking solutions in their sectors. The following nominees are making a national impact by transforming legacy industries.

CircNova
Intero Biosystems
InvestNext
Kode Health

Community Impact Award

Recognizes organizations, individuals, or events that create meaningful and effective connections necessary to build Michigan’s entrepreneurial economy. Nominees promote collaboration and provide critical resources to grow Michigan’s entrepreneurial and investment community.

Ann Arbor SPARK
Bamboo
Centrepolis Accelerator
Venture 313

Capital Event of the Year – Venture Capital Fund

Recognizes significant financing milestones that enable companies to grow and excel in Michigan. The following awardee is fueling growth and innovation in the state with a recently closed fund.

Michigan Innovation Fund

Capital Event of the Year – Portfolio Company

Recognizes the significant financing milestones that enable companies to grow and excel in Michigan. The following nominees are Michigan-based portfolio companies that are fueling growth and innovation in the state.

InvestNext | $15M Series B
ONL Therapeutics | $65M Series D
Optilogic | $40M Series B
Signal Advisors | Undisclosed Series B1

Exit of the Year

Recognizes companies that were funded by Michigan investors and achieved a successful acquisition or exit. The following finalists are strengthening the entrepreneurial and investment community by increasing capital available in the state.

Ambiq | IPO
ATLAS Space Operations | Acquisition
Micro-LAM | Acquisition
Shoulder Innovations | IPO

Mega Deal of the Year

Recognizes a company whose landmark transaction represents a transformative milestone for Michigan’s entrepreneurial and investment landscape. The following awardee closed a deal of such scale and significance that its ripple effects will shape the state’s economic future for generations.