Research Report
The MVCA Annual Research Reports provide relevant data regarding Michigan's venture capital industry.
- There are 154 venture-backed startups in Michigan, an increase of 56 percent over the last five years.
- Total venture capital funds under management of firms headquartered in Michigan in 2021 was $5.4 billion, an increase of 100 percent over the last five years.
- There were 19 exits by Michigan VC-backed startups in 2021, the largest amount of exits in a given year.
- 14.7 percent of Michigan venture-backed startups were led by a diverse CEO, compared to 7.6 percent of diverse CEOs of Fortune 500 companies nationally.
- Every dollar invested in a Michigan startup by a Michigan venture capital firm attracts $42.87 of investment from outside of Michigan.
- Remaining capital available for new investments in 2021 was $527.6 million. As for follow-on funding for startups, it is expected that $236.8 million is reserved for existing Michigan-based portfolio startups.
- In Michigan, 111 startups raised over $76 million from angel investors in 2021.
Since 2006, MVCA has seen significant growth with $6.6 billion of venture capital that has been invested in 1,593 deals in Michigan. In 2021, an article in Crunchbase points to Michigan as the fastest growing state for VC investment “No state has seen its venture money increase in the last five years as much as Michigan”.
The 2022 MVCA Research Report shows 161 Michigan startups received more than $1.4 billion in venture capital investment in 2021.
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