As Michigan becomes a knowledge economy, venture capital firms and deals are coming its way.
“Despite a diminished national fundraising climate during the last five years in which total capital under management nationally decreased by 3.5 percent, total capital under management among Michigan-based firms increased by 45 percent, from $1.1 billion to $1.6 billion, essentially the reverse of the national trend.
Other key survey findings in Michigan’s venture capital growth from 2009-2013 include:
- 44 percent increase in number of venture capital firms in Michigan, compared to a 6 percent increase nationally.
- Nearly a doubling in the number of venture capital professionals in Michigan, compared to a net 13 percent decrease nationally.”