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

Mark Horne, Managing Partner of Plymouth Venture Partners I, L.P. has announced that
Plymouth’s Company of the Year is Accuri Cytometers. In making the announcement, Horne
commented: “Accuri essentially created a new market in personal use flow cytometry, and then
demonstrated outstanding execution in designing and building world class products to serve that
market. The results were measured in outstanding shareholders returns.”

During a recent award event, the following key people were recognized:

• Accuri’s founders: Jennifer Baird, Collin Rich
• Accuri’s CEO at point of exit: Jeffrey Williams
• Board Member who represented Plymouth from Accuri’s formation to exit: Walter Young

When asked about the award’s criteria, Mark Horne listed four characteristics:

• Exceptional leadership
• Exceptional execution of the Business Plan
• Exceptional increase in shareholder values
• Exceptional governance

Plymouth’s Annual Award, named the Coupe de Ville Award, has now been awarded three
times. The Award was inspired by the immortal words of the entrepreneurial rocker Meat Loaf
in his famous ballad “Two out of Three Ain’t Bad”, where he gave the following advice to
venture capitalists:

You’ll never find your gold on a sandy beach
You’ll never drill for oil on a city street
I know you’re looking for a ruby in a mountain of rocks
But there ain’t no Coupe deVille hiding at the bottom of a Cracker Jack box

In reviewing numerous business plans Plymouth has certainly seen its share of empty Cracker
Jack boxes, but occasionally PVP does find a Coupe deVille. Each June one PVP Portfolio
Company will receive the Coupe deVille Award in recognition of its outstanding performance.

Combined capital under management has grown 206 percent in just five years

Ann Arbor, Mich. – April 12, 2011 – As the state of Michigan—and more generally, the Midwest—continues to transition from its rust belt roots of auto and manufacturing into an innovation economy driven by clean tech, life sciences, and entrepreneurship, the soon-to-be released annual report from the Michigan Venture Capital Association (MVCA) shows that investors are noticing. The report is being released in advance of the 30^th annual Michigan Growth Capital Symposium, which showcases the innovation within the state and the surrounding region to highlight the “Best of the Midwest” companies and bring them together with leading regional and national investors.

According to the MVCA annual report, which will be released to the public the week of April 25, the state’s investment landscape has grown dramatically in the past five years and is at a major inflection point. Since 2006, over $735 million has been invested into over 120 deals, representing a 40 percent growth in the number of investments made and capital invested in Michigan over the first half of the decade. Other highlights from the report include:

• A 60 percent growth in the number of venture capital firms operating in the state since 2006, with 24 currently in business;
• Combined capital under management reaching $2.6B—a 206 percent increase since 2006;
• Nearly 80 venture-backed companies are located in Michigan; and,
• A 75 percent growth in the number of venture-backed companies in the state in the past five years.

“It has been a record period of growth for venture capital in Michigan, and better yet, we have abundant success stories to support the numbers, like the notable exits of Esperion, HealthMedia, Arbor Networks, HandyLab and Accuri,” said LeAnn Auer, MVCA executive director. “We’ve worked tirelessly to help Michigan-based venture investors develop and succeed, and the Michigan Growth Capital Symposium has marched in lock-step with us to ensure these firms can connect with the high growth potential startups that will lead to successful exits and a bright economic future for the state.”

Year after year, the Symposium, the state’s largest and most highly sought after venture capital event, showcases the most-promising startups emerging from the region and its top-tier research universities. During the past 10 years alone more than 300 companies have presented, including nearly a quarter that were University-based spinouts representing leading research universities within the state of Michigan and the greater Midwest—with over 70 percent of those drawn from members of the State of Michigan’s University Research Corridor, which have gone one to raise $423 million in funding and experience six had successful exits. Of those 300-plus, 71 percent have raised capital totaling $1.7 billion in investment dollars. Further, 20 percent of the companies funded have gone on to realize successful exits.

“The Symposium represents the many people and organizations that work tirelessly to prove to the world that Michigan has what it takes—the research, the investment power and the talented entrepreneurs, among other things—to develop into an innovation hub that could hold its own with the likes of Silicon Valley and Boston,” said Symposium founder David Brophy. “And this year, I can say with confidence that we’ve arrived on the map. It wouldn’t surprise me if the next Accuri or even the next Google were among the forty presenting companies at this year’s event, and it would be a huge win to have a local firm expose them to the world.”

The Michigan Growth Capital Symposium is taking place May 10-11 at the Marriott Resort in Ypsilanti. It is hosted by the Ross School of Business’ Zell Lurie Institute at the University of Michigan with support from the Michigan Venture Capital Association. Visit www.michigangcs.com to register to attend, and follow conversations about the Symposium by tracking #MGCS on Twitter.

About the Michigan Growth Capital Symposium (MGCS)

MGCS is the original university-based venture fair, which was first held in 1979. This nationally attended two-day event provides an opportunity for financiers to connect with up-and-coming Midwest businesses and learn about emerging technologies. The Symposium offers the opportunity to build relationships with an unparalleled business network of distinguished private equity industry leaders and entrepreneurial business professionals. Entering its 30^th year, MGCS continues to draw top investors from coast to coast. MGCS is presented by the Center for Venture Capital & Private Equity Finance at the Ross School of Business at the University of Michigan with support from the Michigan Venture Capital Association.

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Franklin Lakes, NJ (February 7, 2011) – BD (Becton, Dickinson and Company) (NYSE: BDX), a leading global medical technology company, announced today that it signed a definitive agreement to acquire Accuri Cytometers, Inc., an Ann Arbor,  Michigan-based company that develops and manufactures personal flow cytometers for researchers. The acquisition is subject to regulatory approvals and is expected to close during the third quarter of fiscal year 2011. The financial terms of the agreement were not disclosed.

Consistent with BD’s acquisition strategy, the acquisition would expand BD’s presence into the emerging affordable personal flow cytometer space. It would also help expand the use of flow technology by researchers in developing regions where ease of use is critical, as well as by researchers in scientific disciplines that have not traditionally used flow cytometry, such as environmental studies.

“Accuri Cytometers’ offering of flow cytometers for a new audience of researchers will complement and broaden BD’s current offerings for life scientists,” said Vincent A. Forlenza, BD President and Chief Operating Officer. “We believe that, once completed, this acquisition will enable BD to further contribute to medical and scientific advances, in line with our corporate purpose of helping all people live healthy lives.”

“Making flow cytometry more accessible to a wider audience of scientists and clinicians is one aspect of our Cell Analysis growth strategy,” said William Rhodes, President, BD Biosciences. “With its small footprint, ease of use and affordable price, the Accuri flow cytometer enables the adoption of flow cytometry by a broad range of researchers whom BD does not currently serve.”

ANN ARBOR, Mich.—Celebrating “A Year of Exits”, the Michigan Venture Capital Association held its annual awards dinner for its members and guests November 15 in Ann Arbor.  The statewide membership organization honored several Michigan venture firms as well as venture capital recipient companies for their successes:

• MVCA “Michigan 100” Award winner Cerenis Therapeutics of Ann Arbor, for raising over $100 million in venture capital;
• Michigan’s new venture firms: Huron River Ventures, Michigan Accelerator Fund Management, and Resonant Ventures;
• Multiple venture capital investment exits, both non-Michigan companies with Michigan venture investors and Michigan-based companies:

o   LenSx Lasers (Venture Investors)

o   Greenplum (EDF Ventures)

o   ZyStor (Apjohn Ventures & Venture Investors)

o   CardioMEMS (Arboretum Ventures)

o   Ikano Therapeutics (Apjohn Ventures)

o   Arbor Networks (EDF Ventures)

o   HandyLab (EDF Ventures, Wolverine Venture Fund, Arboretum Ventures, Ardesta Capital, Dow Venture Capital)

Jeff Williams, former CEO of HandyLab and current CEO of venture-backed Accuri Cytometers, was named MVCA Entrepreneur of the Year.

“The wind is in our sails,” stated LeAnn Auer, Executive Director of the MVCA, in her remarks before the dinner.  “It’s been a year of exits, as many of our venture capital firms have successfully exited portfolio companies located both here in Michigan and elsewhere.  In addition, venture capital financings have already exceeded 2009 levels.  These successes bode well for future growth in our community.  I’m looking forward to this year’s celebration.”

The Michigan Venture Capital Association will also announce its 2011 Board of Directors:

• Ron Reed (Chairman), Managing Director, Seneca Partners
• Tom Kinnear (Vice-Chairman/Treasurer), Managing Director, Zell Lurie Institute at U-M Ross School of Business
• Tim Petersen (Vice Chairman/Chairman-Elect), Managing Director, Arboretum Ventures
• Uzma Ahmad (Board Secretary), Attorney, Dykema Gossett PLLC
• Jim Adox, Managing Director, Venture Investors
• Jeff Bocan, Managing Director, Beringea
• Hugo Braun, Co-Founder, North Coast Technology Investors
• Greg Main, President & CEO, Michigan Economic Development Corporation
• John McIlwraith, Managing Director, Allos Ventures
• Chris Rizik, CEO & Fund Manager, Renaissance Venture Capital Fund
• Skip Simms, Managing Director, Ann Arbor SPARK
• Mina Sooch Partner, Triathlon Medical Ventures; Managing Director, Apjohn Ventures
• Jody Vanderwel, President, Grand Angels
• Ken Van Heel, Director, Alternative Investments & Venture Capital, Dow Chemical Company
• Donald Walker, Managing Director, Arbor Partners

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