Duo Security, Sooch, Arboretum Ventures To Be Honored Nov. 30 At Michigan Venture Capital Association Annual Dinner

Duo Security has been named winner of the MVCA “100” Award, Mina Sooch Entrepreneur of the Year, while Arboretum Ventures won the Capital Event of the Year Award. Trillium Ventures’ founder and general partner Tom Porter is receiving the MVCA Lifetime Achievement Award.

The evening of the dinner, MVCA will also announce the winner of a new award, the “Up and Coming Investor of the Year,” in recognition of a new investor making its mark on the entrepreneurial and investment community in the state.

“The Great Lakes Region, powered by a decade of tremendous growth in the entrepreneurial and investment community, has become a major player, nationally, in venture capital and angel investing,” said Maureen Miller Brosnan, MVCA executive director. “In the last 10 years, the number of companies receiving investment in the Great Lakes Region has grown by 113 percent, compared to 34 percent nationally, making it one of the fastest growing regions for venture capital investment. In addition, the Great Lakes Region is the second largest active angel community in the country with angels investing 16 percent of all dollars invested in early stage companies.”

Launching and growing a company in the Great Lakes Region means creating a business that can thrive nationally, supported by local venture firms and angel groups whose investment activity has gained the region national prominence, said Brosnan.

“It’s an exciting time to be part of the entrepreneurial community in Michigan,” Brosnan she added. “Even as we celebrate this growth, we recognize the need to build on this momentum in order to secure the long-term viability of the entrepreneurial ecosystem in our region.”

The 2015 MVCA 100 Award winner, Duo Security well surpassed 100 employees in 2015. To support that growth, the company raised a $30 million Series C round, bringing total venture funding in the company to $48 million.  Nationally recognized venture investors including Google Ventures, True Ventures, and Benchmark Capital have supported the company on its dramatic growth trajectory.

Over the past 30 years, Porter, the 2015 Lifetime Achievement Awardee, has remained dedicated to building Michigan’s entrepreneurial and investment community and guiding students and young professionals interested in joining the industry. 1987, he co-founded EDF Ventures, an Ann Arbor venture capital firm where he oversaw health care investing.  He also served on the faculty at the University of Michigan’s Ross School of Business, and was an Executive-in-Residence at the School’s Zell-Lurie Institute for Entrepreneurial Studies.

Sooch, the 2015 Entrepreneur of the Year, proved she has the determination to nurture multiple promising startups from seed stage to exit. Sooch is leading her second venture-backed biotech startup as president and CEO of cardiovascular drug company Gemphire Therapeutics Inc.  In 2015, Sooch is guiding Gemphire through its Series B round with many nationally recognized venture investors.

Winner of the 2015 Capital Event of the Year Award, Arboretum Ventures’ $220 million fundraise broke state records, and within the Great Lakes Region, is one of the top five largest funds raised. Arboretum IV builds on the success of the firm’s previous healthcare-focused funds, which target capital efficient companies that can meaningfully reduce costs in the firm’s areas of expertise: devices, diagnostics, services, and IT.