Bank of Ann Arbor & FNBH Terminate Merger Agreement
Arbor Bancorp, Inc. (Bank of Ann Arbor) is announcing that Arbor Bancorp. Inc. and FNBH Bancorp, Inc. (First National Bank in Howell) have mutually agreed to terminate their Agreement and Plan of Merger, previously announced on February 3, 2020. Deal Termination 6.25.20
Assistance for communities, small businesses, early stage tech companies impacted by COVID-19
New economic assistance for small businesses, early stage tech companies and communities around Michigan negatively impacted by the COVID-19 virus gained approval from the Michigan Strategic Fund, the Michigan Economic Development Corporation announced today. Click here to read more.
Beringea holds startup business plan competition for Michigan high school students
Amid statewide school closures in Michigan, one local venture capital firm is offering $3,500 in prize money for high school students who create a winning business plan as an enrichment activity. Click here for more information.
Detroit Small Business Stabilization Fund
Coordinated by TechTown Detroit, the Detroit Small Business Stabilization Fund will provide direct financial assistance to small businesses to help them through this period of decreased sales and activity caused by the COVID-19 pandemic. To donate, click here.
New Requirements for Michigan-based Angel, Venture Capital and Private Fund Managers
The following information was provided by MVCA Service Provider, Warner Norcross + Judd, LLP relating to new rules for filing requirements in Michigan. Effective as of January 3, 2020, most Michigan-based fund managers of angel funds, venture capital funds and certain other private funds must begin electronically submitting reports on Form ADV as an “exempt… read more
MVCA Board Member Profile: Evan Ufer, Plymouth Growth Partners
MVCA recently announced the 2020 Board of Directors and new to the Board is Evan Ufer, Partner at Plymouth Growth Partners. Evan focuses on sourcing and executing lead investments in technology-based businesses. Since joining in 2014, he has led five of Plymouth’s investments and has been involved in many other successful financings. Prior to Plymouth,… read more
Beringea leads $5M investment round in unified communications provider Atlas Space Operations
FARMINGTON HILLS, MICH., Feb. 11, 2020 — Beringea, a global private equity firm providing growth capital to high potential businesses, led a $5 million investment round in Traverse City, Mich.-based ATLAS Space Operations, Inc., a global provider of high-quality, mission-critical unified communications services. The capital will be used to further advance ATLAS’s engineering efforts in… read more
2019 Investment Recap – Birmingham Angels, Birmingham, MI
City Side Ventures is pleased to announce that the newly formed Birmingham Angels had their first group meeting in September 2019. The group, which is growing rapidly consists of successful business executives and high net worth individuals from Oakland County, has already established that they are “players” in the angel investing asset class in a… read more
Bank of Ann Arbor Expands into Livingston County with Definitive Agreement to Merge with First National Bank in Howell
Ann Arbor, Michigan – February 4, 2020 – Arbor Bancorp, Inc., the holding company for Bank of Ann Arbor (“Arbor”), and FNBH Bancorp, Inc., the holding company for First National Bank in Howell (“First National”) (OTC Pink: FNHM), today announced they have entered into a definitive agreement for Arbor to acquire First National in an all-cash transaction. Read… read more
dBusiness covers Michigan’s Venture Capital community in Jan/Feb 2020 issue
In the January-February 2020 issue of dBusiness, the cover story is focused on venture capital investment, private equity activity, angel investing throughout Michigan. Written by Tim Keenan, several MVCA members were interviewed for this article. Read the article by clicking here.