2023 saw the most capital raised by Michigan-based funds of the past decade, overtaking 2016’s tally of approx $450M
The majority of venture capital deal value in Michigan for 2023 was concentrated in Series B funding. This highlights the critical need for increased pre-seed funding to support the growth and development of the startup entrepreneurial community in the state
While deal value in the Great Lakes region dropped from $17 billion to $6 billion, Michigan maintained steady investment levels with $1 billion invested
The Michigan venture community composition broadly indicates 70.4% of survey respondents identified as male. Female VC professionals made up 29.6% of respondents, which compares favorably with national averages. Recent research indicates that women represent around 11% of investing partners at VC firms and approximately 21% of all investment professionals