GRAND RAPIDS – Venture capital investors made fewer deals in Michigan during the third quarter than the same period a year earlier, although the amount invested more than tripled.
VC firms invested $169.6 million in 26 deals in Michigan from July to September, according to a quarterly report from Pitchbook.com and the National Venture Capital Association. That compares to 30 deals for $53.1 million in the third quarter of 2017.
The top Michigan deal listed in the quarterly report was for Detroit-based online retailer StockX Inc., which received $44 million from Detroit Venture Partners; Battery Ventures in Boston; CourtsideVC, which has offices in Detroit and New York City; and a number of individual investors.
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