FOR IMMEDIATE RELEASE – November 5, 2012 – Ann Arbor, Mich. — At its annual meeting, the Michigan Venture Capital Association (MVCA) awarded Venture Financing of the Year to CytoPherx, the MVCA 100 to mophie and Above and Beyond to Don Walker of Arbor Partners. It also announced its 2013 executive committee and board of directors.
“It’s been an exciting year for venture capital in Michigan,” said Tim Petersen, MVCA board chair. “The range, type and amount of deals this past year proves that interest in Michigan’s entrepreneurs is growing and that our venture community is continuing to mature. Investors recognize – and word is spreading – that funding a Michigan company can yield a terrific return.”
CytoPherx was honored with MVCA’s Venture Financing of the Year award. In January 2012, CytoPherx announced a $34 million funding round from a large syndicate of investors, including MVCA members Early Stage Partners, Apjohn Ventures and North Coast Technology Investors. The funds will be used to complete U.S. clinical trials and gain FDA approval to commercialize the CytoPherx inflammation modulation therapy for acute kidney injury.
MVCA honored mophie with its 100 Award for achieving $100 million in revenue this year. The company is on pace to grow revenues to an impressive $150 million in 2012. Mophie is the pioneer and leader of portable power products for smartphones and tablets. Mophie has operations in Mich., Calif., and China.
Don Walker was honored with the Above and Beyond Award for his continued support of the MVCA. Walker was a founding partner of Arbor Partners, a Mich.-based venture capital firm committed to helping entrepreneurs build successful growth companies in enterprise software, communications, and Internet applications. Walker is an advisor to The University of Michigan’s Wolverine Venture Fund, a board member of MVCA and a former board member of the New Enterprise Forum.
At its annual meeting and awards dinner, MVCA also announced its 2013 board of directors and executive committee. Tim Petersen of Arboretum Ventures will continue to serve as the organization’s board chair. Jeff Bocan of Beringea will serve as MVCA’s vice chair and chair elect. Jim Adox will serve as vice chair and treasurer of MVCA’s board.
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