The Michigan Venture Capital Association is proud to offer the Venture Fellows Program to Michigan’s venture capital community. The program, launched in 2023, is designed to increase the number of venture professionals in Michigan in order to accelerate the fundraising and deployment of capital into early-stage companies.
MVCA is proud to highlight the incredible work Sapna has done during her time as a Venture Fellow at Michigan Capital Network. In her final blog post with us, she reflects on her experience and shares a glimpse of what’s next in her journey!
Where are you now and what are you doing?:
I’m still with MCN & hope to be for a while! My role post-fellowship has not changed – I’m deal sourcing, running diligences, supporting portfolio companies, & fundraising. It’s full steam ahead.
During your time as a Venture Fellow, what was the best deal, favorite solution, or stand-out Michigan portfolio company you encountered and why?
It’s hard to pick, there are a few that are near & dear, even in just a couple of years of working with them. I would give a shout out to 2 though:
First, Micro-LAM. This is an advanced manufacturing company based in Portage, MI. It’s the perfect example of a Michigan success story. Deepak is an amazing CEO – he took his PhD work from Western Michigan University and turned it into a company that leverages laser-assisted diamond turning to manufacture complex, high-precision optics for advanced applications in aerospace, defense, automotive, and more. He grew the company and built his facility in Michigan from scratch, and is now getting attention from the major players in industry. Deepak is also a humble, down-to-earth CEO, him and his team have been a pleasure to work with & it’s been such a pleasure watching that company grow over the last two years.
Second, ProvenAir. This is the first company that I ran diligence on, negotiated a term sheet, syndicated the full round, and now serve as a Director on the Board. It’s also a solution for Aviation, an industry I’ve been passionate about since I was a little kid. I’ve enjoyed getting to know Jim, the CEO, and his team and am really excited to see this company grow.
How did your fellowship help you contribute to the growth of Michigan’s entrepreneurial and investment community?
I think my fellowship has helped the Michigan ecosystem in a variety of ways. I’ve been able to support many Michigan start-ups – both current portfolio companies and new ones added since I joined. Half of the Boards I’ve supported in the last two years have also been for Michigan based companies.
As I look forward, our next fund will now represent Michigan at the National level. I lead MCN’s application to become a Critical Technologies fund supported by the Small Business Administration and the Department of Defense. Both of these organizations were excited about having Michigan representation in their Small Business Investment Companies program. It’s definitely an honor to be the only Michigan, and only Midwest, venture fund with this partnership! I hope it helps highlight the incredible ecosystem we have in the State.
What advice would you give to someone who is interested in pursuing a career in venture capital?
Don’t be afraid to dive in! Honestly, I didn’t know what venture capital was until I got to business school. Even then, I didn’t truly understand the ins and outs until I started working at MCN. I think from the outside, venture can appear to be a little intimidating. But most of the folks I’ve met so far have come from a variety of backgrounds, often far removed from venture or even business. Having curiosity, a willingness to learn new things, to be comfortable in the unknown – those are qualities required for venture. It’s not as scary once you’re in it.
What do you hope to be doing in ten years?
I hope I’m still in venture! Every day is different, every investment, every company, every fund is different. I can see this work staying exciting and engaging for the years to come. I also hope to still be going on hiking trips in my free time!