Once upon a time, venture capital in Michigan was small and inconsequential. Today it’s powering the Great Lakes State’s new economy, growing at a time when the industry has shrunk. Concentrate takes a long look on what that means for our local entrepreneurial ecosystem.
Local venture capital loaded for bear after decade of digging in
That seems like a distant memory now. Today, according to the Michigan Venture Capital Association’s 2014-15 annual report, there are 37 venture capital firms operating in Michigan, including 26 that are headquartered here. They employ 130 investment professionals with $4.8 billion under management. Last year they invested $204 million in 51 startups based in Michigan.