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
