BLOOMFIELD HILLS – The Michigan Venture Capital Association (MVCA), the trade association for Michigan’s venture capital and angel community, celebrated the state’s entrepreneurial ecosystem at its 2024 Annual Awards Celebration, held at Elevate at One Campus Martius.
During the event, MVCA presented awards highlighting capital events driving the growth of Michigan companies, significant investment milestones propelling businesses forward, innovative companies developing groundbreaking solutions, and organizations actively engaging with their communities to strengthen local economies.
The sold-out event drew over 240 attendees from across the state to honor the achievements of Michigan’s entrepreneurial and investment community.
Awardees of the 2024 MVCA Annual Awards celebration were voted on by MVCA members in each category. They include:
• Mike Klein (Genomenon), Entrepreneur of the Year
• Optilogic, Up-and-Coming Company of the Year
• Michigan Founders Fund, Community Impact Award
• Grand Ventures, Capital Event of the Year – Venture Capital Fund
• May Mobility, Capital Event of the Year – Portfolio Company
“This event is a wonderful opportunity for Michigan’s ecosystem to unite and celebrate the accomplishments and dedication of both our investors and entrepreneurs,” said Ara Topouzian, Executive Director of MVCA. “Despite the economic turbulence of recent years, Michigan continues to demonstrate remarkable resilience and growth.”
This year, MVCA introduced the Hall of Fame category, which replaces the Lifetime Achievement award. The Hall of Fame award recognizes individuals whose achievements have had pivotal influence on Michigan’s entrepreneurial and investment ecosystem. The following inductees have paved the way for the next generation of investors in the community through their leadership and expertise:
Tim Petersen: Tim has been an instrumental person in the success of venture in Michigan. Starting with the founding of the Wolverine Venture fund as the Managing Director, to co-founding Arboretum Ventures in 2002. His leadership in both entities led to their successes and longevity. He has led investments into over 20 portfolio companies and has had many large exits, including IPOs (Inogen and SI Bone) and acquisitions (My Health Direct, Accuri, HealthMedia, Intellicyte, and others). Tim served as Chair of the MVCA and under his leadership, helped secure MEDC funding for the organization including the initial launch of the Venture Fellows program. Over several investment funds, Tim has also been able to attract out-of-state VC firms to invest in promising Michigan companies, helping to put our state “on the VC map.” He is in the process of transitioning from an active investor at Arboretum to a role supporting his prior investments as a board director.
Chris Rizik: Chris, Managing Partner for Renaissance Venture Capital has been a catalyst for venture capital in Michigan for several years. Chris brings strong leadership, character, and a passion for Michigan Venture Capital. The work of Renaissance Venture Capital has been a steadfast contributor to the burgeoning Detroit start-up ecosystem. With his success as a fund of funds manager, he and the RVC team have continued to contribute to the ecosystem beyond their work as a fund of funds (e.g., UnDemo Day).
All past recipients of the Lifetime Achievement award have been automatically inducted into the Hall of Fame. They include Skip Simms (2023), Sam Valenti (2022), Jody Vanderwel (2018), Ian Bund (2017), Tom Porter (2015), Michael Finney (2014), Tom Kinnear (2013), Don Walker (2012), David Brophy (2009), and Dick Eidswick (2007).
The evening also featured a tribute to Kevin McCurren whose unwavering dedication to the investment and entrepreneurial community left a lasting impact across the state of Michigan, spending the last several years as the Commercialization Program Director for Michigan’s Translational and Commercialization (MTRAC) program. Before that, he served as Executive Director at Grand Valley State University, where he led entrepreneurial development and support for both the university and the broader West Michigan region. After a courageous battle with a progressive neurodegenerative disease, Kevin concluded his life’s journey on his 73rd birthday, August 13, 2024, in Grand Rapids, Michigan. His wife Cynthia and son Trent accepted the award on his behalf.
2024 MVCA Annual Awards Finalists Include:
Entrepreneur of the Year
Recognizes founders of Michigan-based, venture-backed companies that have fostered a vibrant entrepreneurial community. Nominees are innovators who are setting the stage for the next generation of startups and entrepreneurs in Michigan.
• Brian Moore | Co-Founder & CEO, Voxel51
• Deepak Ravindra Menon | Founder & CEO, Micro-LAM
• Edwin Olson | Co-Founder & CEO, May Mobility
• Mike Klein | CEO, Genomenon
Up-and-Coming Company of the Year
Recognizes Michigan companies across all stages of growth that are producing groundbreaking solutions in their sectors. The following nominees are making a national impact by transforming legacy industries.
• Livegistics
• Optilogic
• Rivet Work
• Zeck
Community Impact Award
Recognizes organizations, individuals, or events that create meaningful and effective connections necessary to build Michigan’s entrepreneurial economy. Nominees promote collaboration and provide critical resources to grow Michigan’s entrepreneurial and investment community.
• Black Tech Saturdays
• Michigan Founders Fund
• Michigan Innovation Fund Coalition
• Venture 313
Capital Event of the Year – Venture Capital Fund
Recognizes the significant financing milestones that enable companies to grow and excel in Michigan. The following nominees are Michigan-based venture capital firms that are fueling growth and innovation in the state with a recently closed fund.
• Grand Ventures ($50M Second Fund)
• Mercury ($160M Fifth Fund)
Capital Event of the Year – Portfolio Company
Recognizes the significant financing milestones that enable companies to grow and excel in Michigan. The following nominees are Michigan-based portfolio companies that are fueling growth and innovation in the state.
• CoverTree ($13M, Series A)
• May Mobility ($105M, Series D)
• Voxel 51 ($30M, Series B)
More information at MichiganVCA.Org
