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SOURCE Michigan Venture Capital Association
Number of VC Firms, Amount of Capital, Deals All Grow
ANN ARBOR, Mich., May 5, 2014 /PRNewswire-USNewswire/ -- The Michigan Venture Capital Association's (MVCA) 2013 research report, an in-depth analysis of venture capital activity in the state, shows that the state's entrepreneurial economy continues to grow. The data show that capital under management, the number of venture capital firms, and the number of deals in Michigan are all trending upward, all showing significant increases in the last five years.
"Building an entrepreneurial economy takes time, and MVCA's data show growth in the momentum here in Michigan in both successful startups and investments," said Carrie Jones, executive director, Michigan Venture Capital Association. "We have all of the right pieces of the puzzle in play, from capital for early stage startups through to second stage and growth stage companies as well as a robust pipeline of activity. Another solid indicator for our future: As venture capitalists continue to raise funds here, more investors and entrepreneurs will be attracted to Michigan."
Key highlights of the 2013 MVCA research report include:
Angel funding continues to play an increasingly important role in Michigan's entrepreneurial economy. Data show that more angel funders are in Michigan than ever before. In 2013, 36 Michigan companies received nearly $9.9 million in angel and pre-seed funding, and raised more than five times this amount in additional funding from other sources.
"While all indications point to the long-term vitality of the entrepreneurial ecosystem in Michigan, there is still work to do to ensure that there remains a robust capital continuum for Michigan's entrepreneurs and their growing companies," Jones added. "MVCA is committed to working with its members and other stakeholders to ensure that Michigan's entrepreneurial economy continues to grow, and that there is capital available to invest in companies choosing to startup and grow here."
About The Michigan Venture Capital Association
The Michigan Venture Capital Association is a non-profit trade organization designed to bring together venture capital industry participants in the state of Michigan. The organization's goal is to grow and sustain a vibrant venture capital community in Michigan. Michigan Venture Capital Association members include private venture capital funds, corporate venture capital funds, private equity firms, angel investors, and entrepreneurial infrastructure participants. More than 200 individuals are members of the Michigan Venture Capital Association, representing 70+ organizations across the state. For more information, visit www.MichiganVCA.org.
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