Farmington Hills-based Beringea invested $3.2 million in Relume Technologies, which has closed its $7.0 million Series D financing round.

“Relume is growing rapidly – it roughly doubled its revenue in 2011 – and through its innovative technology and world-class management team, Relume is poised to secure a dominant position in the outdoor LED lighting market,” said Jeff Bocan, managing director for Beringea. “We are pleased to offer continued support as the company re-lights more cities and spaces with its superior long-lasting and energy efficient LED technology.”

Relume Technologies is a leading manufacturer of light-emitting diode (LED) products and smart grid control systems for outdoor lighting applications. Relume has installed outdoor lighting solutions in more than 1,000 outdoor facilities, producing up to a 50 percent energy savings per product. The company’s customers include Starbucks Coffee, US Cellular, McDonalds, Chase, Best Buy, and Lexus, among others. In addition, Relume has re-lit many cities across the country, including Ann Arbor, Mich.; Arlington, Va.; Canton, Ohio, and West Nottingham Township, Pennsylvania.

Beringea offers advice, guidance and capital to support growing businesses. With capital, experience and offices in the U.S. and UK, Beringea’s award-winning team offers its portfolio companies the resources to develop strategy, evaluate growth opportunities, solve problems and build value in a range of sectors.

Learn more.

MGCS 2012 will feature presentations from more than 40 of the Midwest’s top high-growth companies. Applications will be accepted through Tuesday, March 6. A four page (maximum) executive summary is needed to apply along with a $20 application fee.

Who should apply?
High-growth innovative companies from market sectors including but not limited to internet, software, healthcare, medical device, pharma, mobile and energy. Companies encouraged to apply include seed, early-stage, late-stage, and pre-IPO. Presenting companies will be selected by a committee of qualified venture capitalists. Companies will be selected based on market opportunity, competitive advantages, intellectual property, partnerships, business/technology platform, financial projections, exit strategies and the quality and experience of the management team.

Companies considered for presenting should meet the following criteria:
- Project $20M in revenue within five years.
- Seek funding in the range of $500K to $20M.
- Preferably have a Midwest connection.

Presenting Company Benefits
*  A four-page company executive summary will be included in the conference binder.
*  Listing of company name and link on the MGCS web site.
*  Pitch and presentation coaching.
*  15 minute presentation slot to showcase your business opportunity.
*  Table-top exhibit space.
*  Extensive networking time in and near the exhibit area.

Registration
Selected companies receive a reduced registration rate of $295, which is a $200 discount off regular admission.

MGCS will also feature:

*         2 Keynote Luminaries

*         65+ Investment Firms Represented

*         42 Top Midwestern Companies Seeking Funding

*         30 Premier Panelists

*         5 World Class Panel Discussions

*         2 Days of High Level Networking

Questions? Please contact Mary Nickson, Symposium Manager, at 734-615-4424 or mnickson@umich.edu.

Tax Information – February 28, 2012 2-3pm
MVCA member Cendrowski Corporate Advisors will be hosting a series of webinars for our members and portfolio companies. Dial-in details will be provided closer to the date. If you are interested in attending, please contact the MVCA.

What: Deal Sharing in the Garden

Where: Frederick J. Meijer Gardens, Grand Rapids

When: March 27, 1-5 PM

Schedule

• 1:00 – 1:30 PM Set Up, Gardens Open to Registered Attendees
• 1:30 – 3:00 PM Networking & Exploring the Gardens and Sculpture Exhibits
• 3:00 PM Company Presentations moderated by Mike Jandernoa
• 4:30 – 5:00 Networking

Details: Six companies from both sides of the state and a variety of stages/sectors will be presenting.  Companies must be referred to us by MVCA Members.  They must actively be seeking funds.

If you have a company you would like to present, please send an executive summary to merrill@michiganvca.org by February 15th.  Companies will be notified by March 10 if they have been selected.

ANN ARBOR, MICH.—Two MVCA member firms were recently awarded a loan from the organization’s Executive in Residence (EIR)/CEO Placement Program, marking the first distributions from the program’s new Venture Upstart II allocation from the MEDC.  Plymouth Ventures and RPM Ventures will welcome executives Kevin Terrasi and Kurt Skifstad respectively into their firms for a period of deal sourcing and advisement, with an ultimate goal of placing that executive in a leadership role at a portfolio company.

“We’re excited to relaunch the EIR/CEO Placement Program, which has been one of our most popular programs for members,” said Merrill Guerra, Executive Director of the MVCA.  “We’ve chosen two firms who are committed to keeping our entrepreneurial talent in the state.  This program continues to make a difference to the many executives in our market who might otherwise have had to leave the state to find compelling leadership opportunities in their entrepreneurial niches.”

Terrasi and Skifstad both bring operational experience to their venture firm sponsors. Terrasi joins Plymouth following his tenure as Vice President of Engineering and a Director of Pump Engineering, Inc./LLC (PEI), a Plymouth Ventures Fund I portfolio company which was sold in 2009 to Energy Recovery, Inc. (NASDAQ: ERII).  Skifstad, Executive-In-Residence at RPM Ventures, has founded, co-founded, or been part of the senior management team of multiple ventures, including three firms that were acquired, one that went public, and two companies that are still operating.  In addition to his operating experience, Skifstad mentored entrepreneurs in his position at University of Michigan’s Office of Technology Transfer and teaches a senior‐level class on entrepreneurship in the College of Engineering at the University of Michigan. He holds a Ph.D. in Computer Science and Engineering from the University of Michigan and attended the Executive Education Program at U-M’s Ross School of Business.

About the MVCA EIR/CEO Placement Program
Billed as a talent attraction and retention program, the EIR/CEO Placement program was developed in 2007 to help Michigan venture firms support the eventual placement of an EIR into a portfolio company’s operations post-investment or find and hire a qualified CEO candidate for a portfolio company.  In 2011, the MVCA received a second 21st Century Jobs Fund award from the Michigan Economic Development Corporation (MEDC) to renew its EIR and CEO Placement programs.  This grant award allows the MVCA and the MEDC to work together to foster an environment to help entrepreneurs and Michigan-based venture-backed companies succeed.  Under the EIR program, Michigan venture capital firms may apply for a loan award to assist with the first year salary of an EIR.  Under the CEO Placement program, the loan award may be used to pay the one year salary of a newly recruited CEO in one of their Michigan-based portfolio companies.  The CEO Placement loan award may also be applied toward the recruiting fees incurred in finding an entrepreneurial CEO.

For information about the MVCA EIR or CEO Placement programs, visit www.michiganvca.org or contact Merrill Guerra at 734.929.9970.

About the MVCA
The MVCA is a non-profit trade organization designed to bring together venture capital industry participants in the state of Michigan.  The organization’s goal is to grow and sustain a vibrant venture capital community in Michigan.  Membership includes private venture capital funds, corporate venture capital funds, private equity firms, angel investors, and entrepreneurial infrastructure participants.  The MVCA is a vehicle to bring together industry participants and to provide a concerted voice for Michigan’s venture capital industry.  www.michiganvca.org

About Plymouth Ventures Fund II
Plymouth Ventures Fund I became fully invested in 2009 after completing investments in 29 companies. Plymouth Ventures II is actively looking to invest in strong early expansion-stage companies in the Great Lakes region. Plymouth has four partners: Mark Horne, Ian Bund, Bob Savage, and Jeff Barry, with offices in Ann Arbor, Michigan and Toledo, Ohio. Visit www.plymouthvc.com for more information.

About RPM Ventures
RPM Ventures, founded in 2000, is a seed and early stage venture firm with $75 million under management. RPM concentrates its investing in Information Technology, taking advantage of the firm’s West Coast experience and Midwest roots.  The combination of these positions RPM to bring a grounded perspective to its investing that reflects an integration of Silicon Valley culture and relationships with Midwest values and network. RPM is a founding investor in numerous deals, often investing before there is a product or management team in place. Additionally, RPM is a valuable investing partner for companies within sectors in which the firm has specific expertise, including: Retail Automotive Software, Solutions for Industrial and Retail enterprises, E-commerce, Online Marketplaces, Cloud and Social Media Infrastructure, and spinouts from leading research universities. For more information, visit www.rpmvc.com.

More than 145 members of Michigan’s venture capital community gathered to celebrate a year of individual, company, and statewide industry achievement at the MVCA Annual Dinner November 7 at the Inn at St. John’s in Plymouth. Outgoing MVCA Chairman Ron Reed welcomed the group and praised the venture community for meeting each of the MVCA’s strategic goals set in 2006. Incoming MVCA Chairman Tim Petersen introduced the 2012 Board of Directors, thanking longtime board member John McIlwraith (Blue Chip Ventures) for six years of service and welcoming Jon Lauckner (GM Ventures), Pete Farner (TGap Ventures), and Mark Horne (Plymouth Management Co.) to the board for three-year terms. Managing director of event sponsor Credit Suisse Customized Fund Investment Group Kelly Williams shared her insights on the national venture landscape, offering her perspective on how many other states hope to emulate Michigan’s robust venture activity and programming.
After dinner, awards were presented to several Michigan venture firms, investment professionals, and two venture-backed entrepreneurs for their successes:

• MVCA “100 Award” winner Arboretum Ventures of Ann Arbor, for closing a venture fund over $100 million ($140 million Arboretum Ventures III, L.P., closed in August);

• Capital Event of the Year, the $250 million Venture Michigan Fund II, with MVCA members Tom Kinnear (U-M Ross School of Business); Kelly Williams (Credit Suisse CFIG); Charlie Rothstein (Beringea); and David Parsigian (Honigman Miller Schwartz and Cohn);

• Venture Exit of the Year Accuri Cytometers, for its 2011 sale to Becton Dickinson, with MVCA member investors Arboretum Ventures, Baird Venture Partners, Flagship Ventures, Credit Suisse CFIG, and Plymouth Ventures Partners; and,

• Jennifer Baird, initial CEO of Accuri Cytometers and current CEO of venture-backed Accio Energy, and Accuri founder Collin Rich, named MVCA Entrepreneurs of the Year.

A special highlight was the recognition of former MVCA Executive Director LeAnn Auer, who received the MVCA Above and Beyond award for her dedication to the organization’s goals and her five years of service in the leadership role. The evening ended with comments from MVCA Executive Director Merrill Guerra, pledging to continue the growth of the 70-plus member organization and keep Michigan’s entrepreneurial ecosystem strong.

Private Equity in the Secondary Markets
December 8, 2011 8:00 am – 10:30 am
Kensignton Court, Ann Arbor, MI

Harvest Time: Reaping the Greatest Benefits – January 23, 2012 2-3pm

MVCA member Cendrowski Corporate Advisors will be hosting a series of webinars for our members and portfolio companies. Dial-in details will be provided closer to the date. If you are interested in attending, please contact the MVCA.

ANN ARBOR, Mich.—The Michigan Venture Capital Association (MVCA) celebrated a year of individual, company, and statewide industry achievement at its Annual Dinner held November 7 at the Inn at St. John’s in Plymouth. Over 145 members of the Michigan venture community attended the evening event, where incoming Chairman Tim Petersen introduced members of the organization’s 2012 Board of Directors. They include:
• Tim Petersen (Chairman), Arboretum Ventures
• Ron Reed (Vice Chairman/Past Chairman), Seneca Partners
• Jim Adox, (Vice-Chairman/Treasurer), Venture Investors
• Jeff Bocan, Beringea
• Hugo Braun, North Coast Technology Investors
• Pete Farner, TGap Ventures
• Mark Horne, Plymouth Management Company
• Tom Kinnear, U-M Ross School of Business Zell Lurie Institute
• Jon Lauckner, GM Ventures
• Chris Rizik, Renaissance Venture Capital Fund
• Skip Simms, Ann Arbor SPARK
• Mina Sooch, Apjohn Ventures
• Jody Vanderwel, Grand Angels
• Ken Van Heel, Dow Chemical Company
• Donald Walker, Arbor Partners

Pete Farner, Mark Horne and Jon Lauckner are new to the board and begin three-year terms while former director John McIlwraith of Blue Chip Venture Company completes his board involvement after a six-year term.

“It was a wonderful evening that really celebrated the best of the best in our industry,” said Merrill Guerra, Executive Director of the MVCA. “We’re pleased so many venture investors, portfolio company executives, development officials and other supporters could join us, showing the growth and success the venture capital community has demonstrated in Michigan.”

ANN ARBOR, Mich.—The Michigan Venture Capital Association (MVCA) will recognize several Michigan venture firms, investment professionals, and two venture-backed entrepreneurs for their successes at its annual awards dinner November 7 in Plymouth.  The statewide membership organization will honor:

• MVCA “100 Award” winner Arboretum Ventures of Ann Arbor, for closing a venture fund over $100 million ($140 million Arboretum Ventures III, L.P., closed in August);
• Capital Event of the Year, the $250 million Venture Michigan Fund II, with MVCA members Tom Kinnear (U-M Ross School of Business); Kelly Williams (Credit Suisse CFIG); Charlie Rothstein (Beringea); and David Parsigian (Honigman Miller Schwartz and Cohn);
• Venture Exit of the Year Accuri Cytometers, for its 2011 sale to Becton Dickinson, with MVCA member venture investors  Arboretum Ventures, Credit Suisse CFIG, Baird Venture Partners, Flagship, and Plymouth Ventures Partners;  and,
• Jennifer Baird, initial CEO of Accuri Cytometers and current CEO of venture-backed Accio Energy, along with Accuri founder Colin Rich, will be named MVCA Entrepreneurs of the Year.

“The past year has brought some exciting activity to our state’s venture community, namely the launch of several new venture funds and one large venture-backed exit,” said Merrill Guerra, Executive Director of the MVCA.  “The successful exit of Accuri Cytometers is another example of our region’s ability to produce great returns, owing in part to Michigan entrepreneurs’ capital efficiency and prudent management style.  We encourage out-of-state investors to uncover what local venture investors already know—that there is a lot of potential in Michigan companies.”

About the MVCA

The MVCA is a trade organization designed to bring together venture capital industry participants in the state of Michigan.  The organization’s goal is to grow and sustain a vibrant venture capital community in Michigan.  Membership includes private venture capital funds, corporate venture capital funds, private equity firms, angel investors, and entrepreneurial infrastructure participants.  The MVCA is a vehicle to bring together industry participants and to provide a concerted voice for Michigan’s venture capital industry.  www.michiganvca.org