Connecting the Dots: A Quick Reference Guide to Michigan's Angel & Venture Capital Resources

Posted Jun 5th, 2017

By Travis Stoliker, Entrepreneur-in-Residence, Conquer Accelerator

Today we celebrate Conquer's official kick-off by giving a shout-out to Michigan's robust (and growing) angel and venture capital investment community. Even for the most seasoned entrepreneur, it can be difficult finding investment resources. Luckily, our good friends at the Michigan Venture Capital Association (MVCA) put together an annual list we think is extremely helpful. You can find their 2016 list here.

In today’s post, we’ve taken some time to include a portion of the MVCA’s list, below, for our Conquer Cohort to reference. Even if you’re not in Conquer, this list is immensely helpful. Need more information? Simply head on over to MVCA’s annual report, which has a comprehensive list in PDF format.

Michigan Angel Investment Groups

Ann Arbor Angels
201 South Division Street, Suite 430
Ann Arbor, MI 48104

DOUGLAS FINCH—President
THOMAS LOZSER—Treasurer

Group Overview:

Ann Arbor Angels was founded in 2004 and has evolved into a member-driven angel investment organization, comprised of former CEOs and founders as well as business and investment leaders in the Ann Arbor community. Ann Arbor Angels invests in young companies with breakthrough products or services. In addition to providing capital, they share expertise, provide mentoring, and facilitate connections to the broader marketplace.

Preferred Initial Investment Size: $200,000
Number of Active MI Investments: 23
Number of Angels Investors: 11


BELLE Michigan

18530 Mack Avenue, Suite 562
Grosse Pointe Farms, MI 48236

CAROLYN CASSIN—General Partner
NANCY PHILIPPART—General Partner
TERESE HUNWICK—General Partner

Group Overview:

BELLE Michigan’s mission is to provide superior returns for investors while serving the early stage capital needs of women led companies. The companies invested have access not only to BELLE’s capital but to a network of limited partners who bring years of experience as entrepreneurs, professionals, and corporate executives to support the success of portfolio companies

Preferred Initial Investment Size: $125,000
Number of Active MI Investments: 10
Number of Angels Investors: 29


BlueWater Angels Investment Network

2007 Austin Street
Midland, MI 48642

KEN KOUSKY—Executive Director
JUDY MORRISON—Administrative Manager

Group Overview:

BlueWater Angels Investment Network is a private, for-profit organization established to provide members a significant return on equity investments. While providing risk capital to promising businesses, BlueWater Angels recognize the value of supporting and nurturing the entrepreneurial community for the economic benefit of Mid-Michigan and the State of Michigan.

Preferred Initial Investment Size: $500,000
Number of Active MI Investments: 22
Number of Angels Investors: 44


Capital Community Angel Investors

1181 Ridgewood Drive
East Lansing, MI 48823

MARK HOOPER—Treasurer
LOIC COURAUD—Secretary

Group Overview:

Capital Community Angel Investors is a nonprofit organization that seeks to introduce qualified entrepreneurs to its member investors. The group looks for Michigan-based “disruptive” early-stage investments that offer sustainable competitive advantage.

Preferred Initial Investment Size: $250,000
Number of Active MI Investments: 11
Number of Angels Investors: 14


Grand Angels

36 W. 8th Street
Suite 200
Holland, MI 49423

JODY VANDERWEL—President
DEB DETERS—Venture Capital Assistant
PAUL D’AMATO—Managing Director Grand Angels Venture Fund II

Group Overview:

Grand Angels invests in enterprises that will not only yield a return, but will also have a positive effect on our region through business growth, job creation, and talent attraction and retention. Established in 2004, the group only invests in companies based in Michigan and bordering states. To the entrepreneurs with whom we invest, Grand Angels brings engaged, experienced business leaders who provide both financial and intellectual capital.

Preferred Initial Investment Size: $500,000
Number of Active MI Investments: 24
Number of Angels Investors: 42


Grand Lakes Angel

568 Woodway Court
Suite 1
Bloomfield Hills, MI 48302

DAVID WEAVER—Chairman
PIETRO SARCINA—President

Group Overview:

Great Lakes Angels focuses on providing funding to capital-efficient early-stage companies located in the Midwest. We are open to pre-revenue companies that are close to revenue and can demonstrate strong potential customer interest.

Preferred Initial Investment Size: $25,000
Number of Active MI Investments: 4
Number of Angels Investors: 12


Michigan Angel Fund

201 South Division
Suite 430
Ann Arbor, MI 48104

SKIP SIMMS—Managing Member Skip
MIKE FLANAGAN—Senior Portfolio Manager

Group Overview:

Michigan Angel Fund provides funding to capital-efficient early-stage companies located in Michigan. We work closely with other stakeholders in the Michigan entrepreneurial ecosystem to ensure that we invest in the most promising companies and to ensure the future success of those companies and our investments.

Preferred Initial Investment Size: $400,000
Number of Active MI Investments: 16
Number of Angels Investors: 100


Muskegon Angels

200 Viridian Drive
Muskegon, MI 49440

ERIC SEIFERT

Group Overview:

Muskegon Angels is a member-led organization committed to finding, funding, and mentoring great young companies from pitch through successful exit. Our priority is job creation, with a particular emphasis on Muskegon-area development.

Preferred Initial Investment Size: $100,000 to $200,000
Number of Active MI Investments: 14
Number of Angels Investors: 25


Northern Michigan Angels

Michigan 161 East Front Street
Suite 210
Traverse City, MI 49684

DEANNA CANNON—Executive Director

Group Overview:

Northern Michigan Angels is a premier network of successful entrepreneurs and business leaders in Northern Michigan who provide accredited investment capital, strategic advice, and mentoring to early-stage companies. The mission of the angel group is to help grow the economic base of Northern Michigan and to provide members an outstanding financial return on their time and invested capital.

Preferred Initial Investment Size: $125,000
Number of Active MI Investments: 20
Number of Angels Investors: 27


Windsor Essex Capital Angel Network

Southwestern Ontario, Michigan, across Canada & USA
720 Ouellette Avenue
Suite 34
Windsor, ON
N9A 1C2

COLIN MCKILLOP—Executive Director
MICHELLE TENO-WACHTER—Administration

Group Overview:

Windsor Essex Capital Angel Network (WECAN) represents a group of Ontario and Michigan investor members that are focused across industry sectors on investments in Ontario and Michigan and throughout Canada and the U.S. WECAN was formed in 2014 with the support of the Government of Canada and is an active member with 12 NAO Ontario and 30 NACO Canada investment groups as well as ACA. Our WECAN members work together and with other investment groups on deal syndication; WECAN members also provide mentorship, sector expertise and valuable contacts via our monthly meetings in Windsor, Ontario, with three to five presenting companies.

Preferred Initial Investment Size: $150,000 to $ 500,000
Number of Active MI Investments: 1
Number of Angels Investors: 26


Michigan Venture Capital Groups

5AM Ventures

2200 Sand Hill Road
Suite 110
Menlo Park, CA 94025

ANDREW J. SCHWAB—Managing Partner
KUSH PARMAR, MD, PHD—Managing Partner
SCOTT M. ROCKLAGE, PHD—Managing Partner

Firm Overview:

5AM’s portfolio of advanced life science technologies is diversified within the healthcare industry’s biopharmaceutical, medical, technology, and research instrument sectors. Within each sector, 5AM evaluates innovative platform technologies, corporate spin-offs and products with shorter development cycles and invests across multiple therapeutic areas.

Preferred Initial Investment Amount: $5,000,000 to $10,000,000
Worldwide Investment Professionals: 16
Assets Under Management: $685,000,000
Funds Managed (Current and Historical): 4

Actively Investing? Yes


Allos Ventures

120 East 8th Street
Cincinnati, OH 45202

DON AQUILANO—Managing Director
OHN MCILWRAITH—Managing Director

Firm Overview:

Allos invests in early-stage companies, augmenting the capital provided by founders and angel investors who have helped the companies reach a stage at which they have initial customers and are ready for their first institutional financing round. We believe an “engaged” approach to venture capital investing is critical to the success of these companies, and we work closely with our partner companies to help them leverage the business-building skills and resources developed by our team over the past 15 years, as well as those of our investors, most of whom are successful entrepreneurs.

Preferred Initial Investment Amount: $2,000,000
Assets Under Management: $52,000,000
Funds Managed (Current and Historical): 2

Actively Investing? Yes


Amherst Fund, LLC

401 E. Stadium Boulevard
Ann Arbor, MI 48104

MATT TURNER—President & CEO
DAVID LIN—VP of Operations
JONATHAN MARTIN—Managing Director

Firm Overview:

Amherst Fund makes venture capital investments in early-stage companies and also makes private equity investments in larger stage companies. While investing carefully to achieve sound returns, Amherst Fund offers flexibility in structuring investments to best meet the needs of the company. Amherst Fund investments have included equity, subordinated debt, and senior debt structures where appropriate.

Preferred Initial Investment Amount: $50,000 to $500,000
Funds Managed (Current and Historical): 3

Actively Investing? No


Apjohn Ventures

350 East Michigan Avenue
Suite 500
Kalamazoo, MI 49007

MINA SOOCH—General Partner
DON PARFET—General Partner

Firm Overview:

Apjohn Ventures is a life sciences-focused fund which does deals in Michigan and the Midwest. Nine portfolio companies with several exits were part of the fund, including Afmedica, ProNAi, ZyStor, Ikano, Asterand, Cytopherx, Renamed, Svelte, Kereos. The partners have been involved in starting a third of these companies and assisted in raising over $300M in financing.

Preferred Initial Investment Amount: $1,000,000

Michigan Investment Professionals: 2
Worldwide Investment Professionals: 2
Assets Under Management: $15,000,000
Funds Managed (Current and Historical): 1

Actively Investing? No


Arbor Partners

535 W. Williams Street
Suite 303
Ann Arbor, MI 48103

DONALD J. WALKER—Managing Director
JOSHUA BEEBE—Director

Firm Overview:

Arbor Partners provides equity capital and entrepreneurial assistance to early and growth-stage enterprise software and technology-enabled services businesses. The Fund provides access to long-term capital, experienced support and an extensive network of strategic contacts to entrepreneurs who share the partners’ commitment to building tomorrow’s great technology companies.

Michigan Investment Professionals: 2
Worldwide Investment Professionals: 2

Assets Under Management: $37,600,000
Funds Managed (Current and Historical): 2
Actively Investing? No


 

Arboretum Ventures

303 Detroit Street, Suite 301 Ann Arbor, MI 48104

JAN GARFINKLE—Managing Director
TIM PETERSEN—Managing Director

PAUL MCCREADIE—Managing Director

Firm Overview:

Arboretum Ventures is a venture capital firm specializing in the healthcare sector. Founded in 2002, the firm manages $450 million in capital and has invested in more than 30 companies. It focuses on medical device, diagnostic, healthcare IT and healthcare service companies that can achieve significant milestones and value creation in a capital-efficient manner.

Preferred Initial Investment Amount: $3,000,000 to $10,000,000
Michigan Investment Professionals: 7

Worldwide Investment Professionals: 7
Assets Under Management: $454,000,000
Funds Managed (Current and Historical): 4

Actively Investing? Yes


Arsenal Venture Partners

303 Detroit Street
Suite 100
Ann Arbor, MI 48104

270 West New England Avenue
Winter Park, FL 32789

RYAN WADDINGTON—Partner
MARIA THOMPSON—EiR

Firm Overview:

Arsenal Venture Partners is a multi-stage venture capital firm that focuses on the intersection of the government, large corporations, and emerging technology companies. The firm partners with visionary entrepreneurs to build exceptional businesses in the enterprise, commerce/logistics, healthcare and resource efficiency sectors.

Preferred Initial Investment Amount: $1,500,000
Michigan Investment Professionals: 2

Worldwide Investment Professionals: 18
Assets Under Management: $230,000,000
Funds Managed (Current and Historical): 4

Actively Investing? Yes


Augment Ventures

206 South 4th Avenue
Ann Arbor, MI 48104

SONALI VIJAYAVARGIYA—Managing Director
NICOLAS WETZLER—Associate

Firm Overview:

Augment Ventures invests in innovators that challenge the status quo in the products and services people use at work and at home. The firm sees tremendous opportunity in and across the following sectors: Cloud Computing and SaaS, Big Data and Analytics, Internet of Things, Intelligent Mobility, Mobile Software, Cyber Security, Energy, and Efficiency.

Michigan Investment Professionals: 2
Worldwide Investment Professionals: 2
Assets Under Management: $5,000,000
Funds Managed (Current and Historical): 1

Actively Investing? Yes


Baird Capital

425 N. Main Street
Ann Arbor, MI 48104

227 West Monroe Street
Suite 1900

Chicago, IL 60606

DAVE GREGORKA—Venture Partner d
JIM PAVLIK—Partner
NICOLE WALKER—Director

Firm Overview:

Baird Capital makes venture capital, growth equity, and private equity investments in strategically targeted sectors around the world. Baird Capital’s venture team invests in early and expansion stage technology-enabled B2B services and healthcare companies. Having invested in more than 295 companies over its history, Baird Capital partners with entrepreneurs and leverages its executive networks in order to build exceptional companies. The venture team has partnered with many of today’s leading emerging businesses in the targeted sectors, including such companies as Accuri Cytometers, Interlace Medical, MI Bioresearch, NeuMoDx Molecular, and Strata Oncology.

Preferred Initial Investment Amount: $4,500,000
Michigan Investment Professionals:1
Worldwide Investment Professionals:10
Assets Under Management: $460,000,000
Funds Managed (Current and Historical): 4

Actively Investing? Yes


Beringea

32330 W. 12 Mile Road
Farmington Hills, MI 48334

CHARLIE ROTHSTEIN—Founder, Senior Managing Director
MICHAEL GROSS—Managing Director
MARK DONNELLY—Principal

Firm Overview:

Beringea is a private equity firm providing growth capital to market-leading businesses. The Firm’s team offers portfolio companies the resources to grow their businesses and create value for shareholders. Beringea invests $2-15 million in equity and/ or subordinated debt in companies seeking capital for business expansion and growth, ownership transitions, leveraged buyouts, recapitalizations, and refinancing.

Preferred Initial Investment Amount: $3,000,000
Michigan Investment Professionals: 5
Worldwide Investment Professionals:15
Assets Under Management:$625,000,000
Funds Managed (Current and Historical): 10

Actively Investing? Yes


BioStar Ventures

560 W. Mitchell Street
Suite 500
Petoskey, MI 49770

LOUIS CANNON—Founder, Senior Managing Director
RENEE MASI—Managing Director
STEVEN ALMANY—Managing Director

Firm Overview:

BioStar Ventures is a strategic venture capital partnership focused on accelerating value creation for medical device and connected health technologies in cardiovascular and orthopedic medicine. Combining the insight of seasoned venture capitalists and world-renowned medical thought leaders, BioStar Ventures identifies proprietary technologies that meet unmet patient needs, as well as the acquisition criteria of major medical device companies, and then acts as a true value-added investor, providing both capital and clinical expertise to mitigate risk, optimize product development and secure successful exit.

Preferred Initial Investment Amount: $3,000,000
Michigan Investment Professionals: 5
Worldwide Investment Professionals: 7
Assets Under Management: $250,000,000
Funds Managed (Current and Historical): 4

Actively Investing? Yes


Cascade Partners

29100 Northwestern Highway
Suite 405
Southfield, Michigan 48034

RAJESH KOTHARI—Managing Director
DAVID THOMAS—Director  

Firm Overview: Cascade Growth Partners invests in the lower-middle market: companies with EBITDA between $500,000 and $5,000,000. CGP targets healthcare, value-added manufacturing, and technology-enabled businesses that have strong growth potential.

Preferred Initial Investment Amount: $1,000,000 to $6,000,000
Michigan Investment Professionals: 8

Worldwide Investment Professionals: 11
Assets Under Management: $15,000,000
Funds Managed (Current and Historical): 2

Actively Investing? Yes


Chrysalis Ventures

101 South 5th Street
Suite 1650
Louisville, KY 40202

DAVID A. JONES, JR.
KOLEMAN KARLESKI
WRIGHT STEENROD

Firm Overview:

Chrysalis Ventures manages one of Mid-America’s largest funds for early-stage and growth investments, with approximately $400 million under management. Since 1993, Chrysalis has invested in over 65 companies, primarily in the Healthcare and Technology sectors.

Preferred Initial Investment Amount: $2,500,000 to $10,000,000
Worldwide Investment Professionals: 7
Assets Under Management: $400,000,000
Funds Managed (Current and Historical): 5

Actively Investing? Yes


Cultivian Sandbox Ventures

303 Detroit Street
Suite 101
Ann Arbor, MI 48104

1000 West Fulton Market
Suite 213
Chicago, IL 60607

MATTHEW BELL—Principal
RON MEEUSEN—Managing Director
ANDY ZIOLKOWSKI—Managing Director

Firm Overview:

Cultivian Sandbox is a venture capital firm focused on building next generation disruptive agriculture and food technology companies capable of generating superior returns. As early investors and active board members, Cultivian employs a hands-on approach to building companies and is often directly involved in setting company strategy, recruiting key executives, and raising additional capital.

Preferred Initial Investment Amount: $3,000,000
Michigan Investment Professionals: 1
Worldwide Investment Professionals: 9
Assets Under Management: $150,000,000
Funds Managed (Current and Historical): 2

Actively Investing? Yes


Detroit Venture Partners

1555 Broadway Street
3rd Floor
Detroit, MI 48226

BRIAN HERMELIN—Managing Partner
GABE KARP—Partner
JAKE COHEN—Partner

Firm Overview:

DVP invests in seed and early-stage technology startups. The firm looks for companies that can be synergistic with DVP’s collective experience in product development, operations, sales, and marketing. DVP intends to help rebuild Detroit through entrepreneurial fire.

Preferred Initial Investment Amount: $500,000
Michigan Investment Professionals: 5
Worldwide Investment Professionals: 5
Assets Under Management: $55,000,000
Funds Managed (Current and Historical): 1

Actively Investing? Yes


Dow Venture Capital

2030 Dow Center
Midland, MI 48674

KEVIN MCELGUNN—Investment Director
MANESH SEKHARAN—Director, Ventures & Business Development

Firm Overview:

Dow Venture Capital—an investment arm of The Dow Chemical Company—is focused on pursuing strategic investments that enable and accelerate Dow’s business growth while adding value to our portfolio companies.

Preferred Initial Investment Amount: Up to $5,000,000
Michigan Investment Professionals: 1
Worldwide Investment Professionals: 2
Assets Under Management: $100,000,000

Actively Investing? Yes


Draper Triangle Ventures

303 Detroit Street
Suite 100
Ann Arbor, MI 48104

2 Gateway Center
Suite 2000
Pittsburgh, PA 15222

JONATHAN MURRAY—Managing Director
MIKE STUBLER—Managing Director
JAY KATARINCIC—Managing Director

Firm Overview:

Draper Triangle Ventures is a Pittsburgh-based early stage venture capital firm focused on technology investing in the Midwest. With $200 million under management across three funds, the firm focuses on early stage technology businesses with enormous market potential, helping entrepreneurs achieve their maximum potential through team building, partnership, advice, and support, as well as investments.

Preferred Initial Investment Amount: $2,000,000
Michigan Investment Professionals: 1
Worldwide Investment Professionals: 6

Assets Under Management: $200,000,000
Funds Managed (Current and Historical): 3

Actively Investing? Yes


EDF Ventures, LLC

425 North Main Street
Ann Arbor, MI 48104

MARY L. CAMPBELL—Managing Director
MICHAEL R. DEVRIES—Managing Director

Firm Overview:

EDF Ventures is a leading venture capital firm investing in early-stage healthcare companies. The firm focuses on young companies that are developing breakthrough technologies to address large, well-recognized problems or transform existing markets. The individuals pioneering these kinds of solutions require far more than just capital; they need venture investors who are committed for the long haul, true partners who can help transform their vision into strong, profitable companies.

Michigan Investment Professionals: 3
Worldwide Investment Professionals:3
Assets Under Management:$178,000,000
Funds Managed (Current and Historical):6

Actively Investing? No


eLab Ventures

505 East Liberty Street
LL500
Ann Arbor, MI 48104

DOUG NEAL—Partner
PAUL BROWN—Partner
RICK BOLANDER—Partner

Firm Overview:

eLab Ventures is an early stage technology venture capital fund created to capitalize on the growth of emerging entrepreneurial markets outside of Silicon Valley and to create bridges to those markets to seek startups with disruptive innovations, exceptional teams, and capital efficient business models that have the potential to serve large markets. We focus on auto mobility, big data, security, cloud computing and digital healthcare opportunities.

Preferred Initial Investment Amount: $1,000,000
Michigan Investment Professionals:2
Worldwide Investment Professionals:5
Assets Under Management: $23,000,000
Funds Managed (Current and Historical):3
Actively Investing?Yes


Fontinalis Partners

One Woodward Avenue
Suite 1600
Detroit, MI 48226

CHRIS THOMAS—Founder and Partner
CHRIS STALLMAN—Principal
CHRIS CHEEVER—Founder and Partner

Firm Overview:

Fontinalis Partners, founded in 2009 and with offices in Detroit and Boston, is a venture capital firm strategically focused on next generation mobility (i.e., the efficient movement of goods, people, and services). The firm invests across all facets of the world’s mobility systems on a stage-agnostic basis.

Michigan Investment Professionals: 8
Worldwide Investment Professionals: 10
Assets Under Management: $165,000,000
Funds Managed (Current and Historical): 5

Actively Investing? Yes


General Motors Ventures

300 Renaissance Center
Detroit, MI 48265

JON LAUCKNER—President
SHERWIN PRIOR—Managing Director

Firm Overview:

General Motors Ventures LLC formed in 2010 to identify, engage and build relationships with other venture capital firms and companies to deliver innovative technology to the global transportation sector. GM Ventures’ investment strategy includes early and growth stage companies focused on automotive cleantech, infotainment (connected vehicle), advanced materials, and other automotive-related technologies.

Michigan Investment Professionals: 8
Worldwide Investment Professionals: 8

Actively Investing? Yes


Hopen Life Science Ventures

171 Monroe Avenue NW
Suite 410
Grand Rapids, MI 49503

MARK OLESNAVAGE—Managing Director
NATE FREDRICKSON—Associate
MICHAEL FULTON, MD—Managing Director

Firm Overview:

Hopen Life Science Ventures invests in exceptional early- to midstage healthcare and life science opportunities. The firm’s investment strategy focuses on Midwest companies with innovative solutions that deliver significantly better outcomes and at lower total system costs. Hopen leverages its rich life science talent and resources, and investor syndicates to provide the financial and human capital necessary for building value.

Preferred Initial Investment Amount: $1,500,000 to $3,000,000
Michigan Investment Professionals: 5
Worldwide Investment Professionals:6
Assets Under Management: $70,500,000
Funds Managed (Current and Historical):2

Actively Investing? Yes


Huron River Ventures

303 Detroit Street
Suite 100
Ann Arbor, MI 48104

TIM STREIT—Partner
RYAN WADDINGTON—Partner
SAM HOGG—Venture Partner

Firm Overview:

Huron River Ventures is a venture fund focused on early-stage Agriculture, Energy, and Transportation Technology companies based primarily in Michigan and the Midwest. The Fund backs great people with big ideas and the team prides itself on rolling up its sleeves to add value and help entrepreneurs succeed. The firm’s strategy is to be a Michigan generalist, and a National Specialist focusing on select sectors and accessing deal flow from a broad network.

Preferred Initial Investment Amount: $300,000
Michigan Investment Professionals: 3
Worldwide Investment Professionals:3
Assets Under Management:$16,000,000
Funds Managed (Current and Historical):2

Actively Investing? Yes


Hyde Park Venture Partners

440 North Wells Street
Suite 420
Chicago, IL 60654

GUY TURNER—Partner
IRA WEISS—Partner
TIM KOPP—Partner

Firm Overview:

HPVP is an early stage venture fund focused on software startups in the Midwest. The investing team is a combination of experienced operators, strategists, and investors and helps its portfolio companies scale with a strong network of talent and go-to-market experience.

Preferred Initial Investment Amount: $100,000 to $2,000,000
Worldwide Investment Professionals:5
Assets Under Management:$90,000,000
Funds Managed (Current and Historical):2

Actively Investing? Yes


IncWell

1000 S. Old Woodward
Suite 105
Birmingham, MI 48009

TOM LASORDA—Founder & General Managing Partner
SIMON BOAG—CEO & Managing Partner
REDA JABER—Partner

Firm Overview:

IncWell is an early-stage venture capital fund that was founded in 2013 by Tom LaSorda, former CEO of Chrysler. IncWell offers seed funding, strategic partnerships, and mentorships for U.S. and Canadian startup companies that present breakthrough or disruptive technologies backed by great leaders.

Preferred Initial Investment Amount: $100,000 to $250,000
Michigan Investment Professionals:4
Worldwide Investment Professionals:4
Assets Under Management:$10,240,000
Funds Managed (Current and Historical):2

Actively Investing? Yes


Invest Detroit Ventures

4219 Woodward Avenue
Suite 300
Detroit, MI 48201

PATTI GLAZA—Managing Director
MARTIN DOBER—Managing Director
ADRIAN OHMER—Principal

Firm Overview:

Our work is based on the philosophy that while we cannot invest in every entrepreneur we meet, we can provide assistance to every one of them. Invest Detroit Ventures is committed to supporting the entrepreneurial ecosystem with capital, on-going mentorship, and community engagement. We implement targeted venture development programs to help build and promote scalable businesses in the region. Our team is committed to growing a robust tech community in Detroit and throughout Michigan. We are collectively focused on implementing an investment strategy that is inclusive and supportive of minority, immigrant, and women entrepreneurs.

Preferred Initial Investment Amount: $50,000 to $250,000
Michigan Investment Professionals:4
Worldwide Investment Professionals:4
Assets Under Management:$15,000,000
Funds Managed (Current and Historical):2

Actively Investing? Yes


Invest Michigan

500 Griswold Street
Suite 1640
Detroit, MI 48226

CHARLES MORET—President and CEO
JIM TENZILLO—Associate
JOSEPH GODDEERIS—Administrator/ Trainee

Firm Overview:

Invest Michigan is a Michigan nonprofit corporation, based in Detroit, that manages funds associated with assisting or financing startups and early-stage technology-based companies as well as university research associated with transferring technology at the earliest stages into commercial markets. Invest Michigan is the fund manager for the Michigan Pre-Seed Fund 2.0, a $10.5 million statewide investment fund that provides funding to early-stage technology companies. As fund manager, Invest Michigan has a contract with the Michigan Strategic Fund to direct and manage the fund. While the funds it deploys come from the state, Invest Michigan is a private company governed by its board of directors. The processes it employs, the evaluations it conducts and the investment decisions it makes are independent of the State, as are the members of its leadership team and Board of Directors.

Preferred Initial Investment Amount: $50,000 to $150,000
Michigan Investment Professionals:2
Worldwide Investment Professionals:2
Assets Under Management: $10,500,000
Funds Managed (Current and Historical):2

Actively Investing? Yes


Ludlow Ventures

1555 Broadway
Detroit, MI 48226

BRETT DEMARRAIS—Partner
JONATHAN TRIEST—Founding and Managing Partner
BLAKE ROBBINS—Associate

Firm Overview:

Ludlow operates differently because we’re a different kind of VC. We believe in VC without ego. We wear our hearts on our sleeves, avoiding the puffery and posturing that has given venture capital a bad name. We fund the dreams of entrepreneurs and startups, becoming close friends with all of the teams we invest in. VC is a customer service business; whether it’s testing product, leveraging our network, or forcing people to download your app, we’re here to help.

Preferred Initial Investment Amount: $300,000
Michigan Investment Professionals: 3
Worldwide Investment Professionals: 3
Assets Under Management: $50,000,000
Funds Managed (Current and Historical): 2

Actively Investing? Yes


Mercury Fund

303 Detroit Street
Suite 100
Ann Arbor, MI 48104

ADRIAN FORTINO - Partner
BLAIR GARROU—Partner
DAN WATKINS, Ph.D.—Partner

Firm Overview:

Mercury Fund is an early-stage venture capital firm. With over $200 million under management, Mercury invests in compelling and novel startup opportunities, focusing on entrepreneurs and technology innovation originating in the U.S. Midcontinent. Since inception in 2005, Mercury has become one of the most active venture firms in the middle of the U.S., becoming a “go-to” fund for entrepreneurs when they have demonstrated product-market fit, and are ready to scale their business.

Preferred Initial Investment Amount: $1,000,000
Michigan Investment Professionals:1
Worldwide Investment Professionals:5
Assets Under Management:$210,000,000
Funds Managed (Current and Historical):3

Actively Investing? Yes


Michigan Accelerator Fund I

140 Monroe Center NW
Suite 300
Grand Rapids, MI 49503

JOHN KERSCHEN—Managing Director
DALE GROGAN—Managing Director
BRIAN HAMILTON—Senior Associate

Firm Overview:

Michigan Accelerator Fund I invests in promising early stage Michigan-based companies, with the goal of achieving significant, long-term capital appreciation for investors. Prime investment candidates have novel, potentially game-changing technologies; are capital efficient; have a near-term market impact, and fill an unmet market need.

Preferred Initial Investment Amount: $750,000
Michigan Investment Professionals:3
Worldwide Investment Professionals:3
Assets Under Management:$15,128,000
Funds Managed (Current and Historical): 1

Actively Investing? Yes


MK Capital

535 West William
Suite 303
Ann Arbor, MI 48103

JOSH BEEBE—Director

Firm Overview:

MK Capital offers multi-stage growth equity and venture capital to companies in the following sectors: Cloud Infrastructure, Digital Media, Software, and Education Technology. As a member of the MK Capital portfolio, companies get access to an experienced partner with deep operating experience. The firm leverages insights from a strong understanding of its sectors to help its portfolios companies grow.

Preferred Initial Investment Amount: $4,000,000
Michigan Investment Professionals:1
Worldwide Investment Professionals:5
Assets Under Management:$265,000,000
Funds Managed (Current and Historical):2

Actively Investing? Yes


North Coast Technology Investors

300 Rodd Street
Suite 201
Midland, MI 48640

HUGO BRAUN—Partner
LINDSAY ASPEGREN—Partner
STEPHANIE SCHUMACHER—CFO

Firm Overview:

North Coast invests in early stage, technology-driven companies, primarily in the Midwest. Its goal is to work with talented entrepreneurs who want to build great companies. They do this by focusing on a long term and sustainable plan; creating rapid growth through access to capital; being good partners.

Preferred Initial Investment Amount: $750,000
Michigan Investment Professionals:3
Worldwide Investment Professionals:3
Assets Under Management:$100,000,000
Funds Managed (Current and Historical):3

Actively Investing? Yes


Plymouth Ventures

555 Briarwood Circle
Suite 210
Ann Arbor, MI 48108

MARK HORNE—CEO & Managing Partner

Firm Overview:

Plymouth Ventures is growth-stage technology venture capital firm investing $2-$6 million in companies located in the Great Lakes Region. Plymouth Venture Partners takes a hands-on approach to managing its relationship with the companies in which its funds invest, starting at due diligence through closing, to monitoring the investment.

Preferred Initial Investment Amount: $3,000,000
Michigan Investment Professionals:5
Worldwide Investment Professionals:6
Assets Under Management:$107,000,000
Funds Managed (Current and Historical):3

Actively Investing? Yes


Renaissance Venture Capital Fund

201 S. Main Street
10th floor
Ann Arbor, MI 48104

CHRIS RIZIK—CEO and Founder
JEFF RINVELT—Principal
VINCE NYSTROM—Vice President of Business Development

Firm Overview:

The Renaissance Venture Capital Fund (RVCF) is an innovative venture capital fund-of-funds formed by some of Michigan’s most important organizations to profitably invest in the growth of groundbreaking Michigan technologies and companies. RVCF provides capital that will increase entrepreneurial activity and create a strategic connection between those innovative young companies and Michigan’s strong business and industrial base, providing benefit to both communities and increasing the financial success of the RVCF’s investments.

Preferred Initial Investment Amount: $500,000
Michigan Investment Professionals:3
Worldwide Investment Professionals:3
Assets Under Management: $123,000,000
Funds Managed (Current and Historical):2

Actively Investing? Yes


Resonant Venture Partners

425 North Main Street
Ann Arbor, MI 48104

MICHAEL GODWIN—Managing Director & Founder
JASON TOWNSEND—Managing Director & Founder

Firm Overview:

Resonant Venture Partners is a venture capital firm that invests in early-stage companies developing security, industrial IoT and cloud-based products and services.

Preferred Initial Investment Amount: $500,000
Michigan Investment Professionals:2
Worldwide Investment Professionals:2
Assets Under Management:$10,605,000
Funds Managed (Current and Historical):1

Actively Investing? Yes


River Cities Capital Funds

3737 Glenwood Avenue
Suite 100
Raleigh, NC 27612

DANIEL FLEMING—Managing Director
ED MCCARTHY—Managing Director
CARTER MCNABB—Managing Director

Firm Overview:

River Cities invests in world-class management teams, backing progressive, proven leaders in the markets of healthcare and information technology. River Cities participates as a trusted partner side-by-side with company executives, investing significant human capital to leverage what the team has learned from its successes as well as its mistakes during the course of more than 100 investments. With over $500 million of capital raised and a 20-year track record of success, River Cities has established itself as a preferred source of growth capital.

Preferred Initial Investment Amount: $5,000,000 to $12,000,000
Worldwide Investment Professionals:12
Funds Managed (Current and Historical):5

Actively Investing? Yes


RPM Ventures

320 North Main Street
Suite 400
Ann Arbor, MI 48104

TONY GROVER—Managing Director
MARC WEISER—Managing Director
ADAM BOYDEN—Managing Director

Firm Overview: 

RPM Ventures, founded in 2000, is a seed and early-stage venture firm that focuses on investing in B2B Enterprise Solutions, Online Marketplaces, and, its specialty, Automotive IT (which includes Connected Car, Mobility, and Transportation). The firm has a deep commitment to its portfolio CEOs and focuses on markets and models where its specific expertise can make a significant impact on the growth of the business—a reflection of RPM’s relationship-driven approach.

Preferred Initial Investment Amount: $1,500,000
Michigan Investment Professionals:4
Worldwide Investment Professionals:5
Assets Under Management: $75,000,000
Funds Managed (Current and Historical):2

Actively Investing? Yes


Tamarind Hill

411 Montgomery Avenue
Ann Arbor, MI 48103

BEN TRUMBULL - Co-Founder/Partner
MARK SHARY - Co-Founder/Partner

Firm Overview:

Tamarind Hill is a Midwest-based venture capital firm. Tamarind Hill’s target portfolio companies are early/growth stage B2B software, enterprise IT and healthcare IT companies.

Preferred Initial Investment Amount: $250,000 to $1,000,000
Michigan Investment Professionals: 1
Worldwide Investment Professionals: 2
Assets Under Management: $3,000,000
Funds Managed (Current and Historical): 1

Actively Investing? Yes


TGap Ventures

7171 Stadium Drive
Kalamazoo, MI 49009

JACK AHRENS—General Partner
PETE FARNER—General Partner

Firm Overview:

TGap Ventures serves entrepreneurs throughout the Midwest by helping them define, develop, grow, and build value in their businesses. The TGap team is a mix of successful venture capitalists, managers, and entrepreneurs with aptitudes, experience, empathy, realism and patience required to build great businesses from, and add value to, developing companies. TGap invests in medical devices, software, media, specialty manufacturing, and services.

Michigan Investment Professionals: 2
Worldwide Investment Professionals: 2
Assets Under Management: $50,000,000
Funds Managed (Current and Historical): 2

Actively Investing? Yes


Three Leaf Ventures

303 Detroit Street
Suite 100
Ann Arbor, MI 48104

SEAN KEARNEY—Managing Director
KIKI BROE—Senior Associate

Firm Overview:

Three Leaf Ventures firmly believes that people’s lives will continue to benefit from the advance of wireless, mobile and communication technology. Combined with a shift in how people think about their health, technological advances will pave the way for a transformation of the current system. Three Leaf Ventures has a dedicated focus to invest with passionate individuals that are aligned with driving this change. Its thesis incorporates three prominent themes: 1.) involving an increasingly pro-active, educated and invested consumer of healthcare; 2.) leveraging significant advances and penetration of wireless and mobile communication technology, and 3.) pursuing a shift to individualized healthcare from population-based medicine.

Michigan Investment Professionals: 1
Worldwide Investment Professionals: 5
Assets Under Management: $50,000,000

Actively Investing? Yes


Venture Investors

201 South Main Street
Suite 900
Ann Arbor, MI 48104

JIM ADOX—Managing Director
SABRINA HADINOTO—Associate
JOHN NEIS—Managing Director

Firm Overview:

Venture Investors makes seed and early-stage venture capital investments in high potential healthcare companies. The firm focuses on the Midwest and has a national reach. It specializes in university spin-outs from Midwest universities, with a focus on the Universities of Michigan and Wisconsin, where its two offices are located.

Preferred Initial Investment Amount: $250,000 to $4,000,000

Michigan Investment Professionals: 2
Worldwide Investment Professionals: 5
Assets Under Management: $201,000,000
Funds Managed (Current and Historical): 6

Actively Investing? Yes


Wakestream Ventures

40 Pearl Street NW
Suite 200
Grand Rapids MI 49503

RICK DEVOS—Founder & CEO
KIM PASQUINO—Investment Director
MIKE DEVRIES—Chief Investment Officer

Firm Overview:

Wakestream Ventures, previously a part of Start Garden, wears the hat of early stage financier and likes startups that take advantage of the Midwest expertise in manufacturing and global enterprise.

Preferred Initial Investment Amount: $100,000
Michigan Investment Professionals: 6
Worldwide Investment Professionals: 6
Assets Under Management: $21,250,000
Funds Managed (Current and Historical): 2

Actively Investing? Yes


WMU Biosciences Research & Commercialization Center

4717 Campus Drive
Kalamazoo, MI 49008

STEVE HAAKENSON

Firm Overview:

Based at Western Michigan University, BRCC was established in 2003 with a special $10 million appropriation from the Michigan Legislature as a non-profit investor, designed to provide seed funding to early stage companies focused on the Life Science sector. BRCC considers a wide range of life science technologies across all indications including but not limited to: biotech therapeutics, diagnostics, medical devices, software, food, environmental and analytical services. BRCC also provides growth capital funding to Contract Research Organizations (CROs) and Contract Manufacturing Organizations (CMOs) already servicing and on the market. The economic development focus of the BRCC aims to promote the growth of Michigan’s life sciences business sector and collaborates with the State’s entrepreneurial resource service providers.

Preferred Initial Investment Amount: $100,000 to $250,000
Michigan Investment Professionals: 1
Worldwide Investment Professionals: 1
Assets Under Management: $12,000,000
Funds Managed (Current and Historical): 2

Actively Investing? Yes


Wolverine Venture Fund

701 Tappan Street
R3228
Ann Arbor, MI 48104

ERIK GORDON—Managing Director

Firm Overview:

The Wolverine Venture Fund invests primarily in early stage companies. The Fund is one of the world’s first VC funds where students are partners in the investment decision-making process. The Fund’s students members seek, screen and negotiate investments and develop significant experience in these areas, as well as in working with VCs and entrepreneurs. An advisory board of professional venture capitalists and entrepreneurs and approximately 28 U-M MBA students participate in managing this multi-million dollar fund.

Preferred Initial Investment Amount: $100,000
Michigan Investment Professionals:24
Worldwide Investment Professionals:24
Assets Under Management:$7,000,000
Funds Managed (Current and Historical): 1

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