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Michigan Venture Capital Association releases 2010 year-to-date Michigan venture activity report

ANN ARBOR, Mich.—The Michigan Venture Capital Association (MVCA) has released its 2010 year-to-date report on venture capital activity in Michigan.  As of August 2010, more than $123 million in venture capital has been invested in Michigan‐based start‐ups, a 35% increase compared to 2009 year‐to‐date financings. Also notable:

  • This year-to-date, there were 10 venture capital investments made in Michigan companies totaling $123 million. As of this time last year, a total of $91 million had been invested into 12 companies; and,
  • Six of the 10 deals were made in Series B rounds or later, explaining the larger amount of venture funding across fewer companies this year versus last year.

To read the entire report, click here.

MVCA Executive Director LeAnn Auer says “This report conveys the progress the venture and entrepreneurial community has made in Michigan.  Our year-to-date numbers are substantially higher than last year, proving there are both exceptional companies to fund in our state as well as a growing VC community here to support them.”

Posted August 27, 2010 in Uncategorized