12 June 2013

Michigan example in venture capital

Tom Still - Wisconsin could follow Michigan's example to nurture venture capital: " . . . Venture Investors opened an office in Ann Arbor, Mich., in 2007 after receiving an investment from Venture Michigan Fund I. With the University of Michigan a stone's throw away, it was a strong fit with the Wisconsin firm's practice of investing in technologies and companies tied to academic research. Venture Investors was not the only investor firm from outside Michigan to be drawn to the state because of the state-leveraged fund. Since 2008, the number of venture capital professionals in Michigan has grown from 43 to 62, and the number of firms headquartered in the state has risen from 15 to 20 — with nine out-of-state firms opening offices there. Total venture capital under management in Michigan has grown to $3.7 billion, up $700 million in one year alone. The amount of money available in those funds for new investments has climbed from $367 million in 2011 to $456 million last year. . . ."

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