“The data collected in the MVCA research report show that Michigan’s venture community is growing, both in size and deals,” said Tim Petersen, MVCA board chair.  “It’s particularly exciting to see significant growth — 64 percent — in venture capital under management by Michigan firms as well as a trend towards larger fund sizes.  Michigan is making steady gains in its efforts to be a destination for entrepreneurial business.”

MVCA’s research report findings include:

o   Michigan start-up companies received $191 million in venture capital investment during 2011. There were 38 total investments, including 22 new companies that received a first round of venture capital funding.

o   In Michigan, the number of venture firms, investment professionals, and capital under management have all increased.  The 54 funds managed by venture capital firms in Michigan had 335 active portfolio companies.

o   Venture capital under management among firms headquartered in Michigan increased by 64 percent over the last 5 years. Of the $3 billion of venture capital under management, nearly $370 million is available for new investments within and outside Michigan.

o   In 2011, four Michigan venture capital firms successfully closed their funds, raising a total of $348 million. Arboretum Ventures and Plymouth Venture Partners are headquartered in Michigan while MK Capital and Arsenal Ventures have Michigan offices.

o   As venture firms raise their next funds, the trend for larger fund sizes continues. Michigan now has six funds that are greater than $100 million. There are eight funds between $50 million and $100 million and 13 funds less than $50 million.

The MVCA annual research report is available to its members, legislators, and Limited Partners.  It’s also available upon request.

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

“When we formed the first fund, we said, ‘Let’s make a model of a new kind of venture entity, and if it works we can broaden it out later to foundations and universities and to include the whole state,’ ” said (Chris) Rizik.

Read the article from Crain’s Detroit Business.

Registration will be capped due to space constraints and will be first come, first served. Registration details will be sent out after MGCS

Venue: Vinology
Time: 6:00 pm – 9:00 pm

Space is limited, register fast! Only for MVCA members

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.

Member Resonant Ventures was part of a recent Wall Street Journal story with portfolio company Duo Security. Google Ventures led the $5 million Series A round for the technology.

Resonant Ventures’ Jason Townsend explained the technology. “If your username and password combo for any website was hacked or stolen, thieves could be accessing your account and causing havoc without you knowing it. Duo’s service puts another layer of protection on your accounts. Once your enter your [info] on a site, Duo asks you to approve the login via your cell phone, by hitting ‘Approve’ or ‘Deny.’ If a thief has your login credentials, they will no longer be able to do anything because you would simply deny the requests.”

Read the WSJ story.

The Competitions are often the first level of experience innovators have in vying for attention and funding. Win or lose, they come away with valuable feedback that helps focus future efforts and strategies.

Important Spring Competition Dates:

Wed, March 28 – Registration closes & teams are matched with coaches.

April 30 – Business Plan, Financials, SmartZone Letter of Recommendation due.

Mon, May 14 – Executive summaries & business plans due.

Tue, June 12 – Awards announced at the GLEQ Awards Banquet at the James B. Henry Center, Michigan State University, Lansing.

More Information & Registration

Molecular Imaging is a specialty contract research organization (CRO) providing in vivo preclinical imaging services to the pharmaceutical and biotechnology industries to enhance early-stage R&D decision-making. Molecular Imaging has a proven track record of imaging and discovery expertise in oncology and inflammation and is extending its imaging efforts into other therapeutic areas. The company’s imaging modalities include MRI, micro-PET, bioluminescence, fluorescence (two- and three-dimensional with fluorescence molecular tomography) and micro-CT. Molecular Imaging has performed nearly 400 imaging studies since its founding in 2003, supporting the needs of more than 100 customers.

Michael Gross, managing director for Beringea and now a director of Molecular Imaging said, “Beringea is excited to make this investment in Molecular Imaging – it’s the 26thcompany in the InvestMichigan! Growth Capital fund portfolio. We believe that the early application of imaging in drug discovery can make a significant difference in the efficiency and effectiveness of a company’s R&D investment. The growing use of multi-modality imaging is enhancing anatomical and functional assessments of diseases and treatments and is a very powerful tool in helping select compounds or biologics with the  greatest clinical potential. We look forward to Molecular Imaging leading the way in this important area.”

“We are very pleased to have Beringea as part of the Molecular Imaging team,” said Tom Ludlam, president and CEO for Molecular Imaging. “With their investment, we look forward to further advancing our efforts to grow and diversify both the imaging modalities and the range of disease models we offer to our customers. Our recent agreement with Dana Farber Cancer Institute, which gave us access to a broad line of luciferase-enabled cell lines, is just one example of the kinds of opportunities this investment from Beringea affords us the opportunity to pursue.”

The MGCS is the Midwest’s leading event for attracting the best investors from across the U.S. and showcasing high-quality investable companies. In the past decade alone, more than 300 companies have presented. About 70% of these have raised capital totaling more than $1.7 billion in investments and nearly 20% have realized successful exits.

 
MGCS 2012 will Feature:

• 2 Keynote Addresses by industry leaders
• 40 pre-qualified Midwest companies seeking up to $20M in funding
• 5 Expert panels on timely issues impacting investors and entrepreneurs
• 2 days of high level networking

Over 400 are expected to attend.