ROYAL OAK – Emily Heintz, Associate Director of the Michigan Venture Capital Association, discusses the highlights of the MVCA 2017 Annual Report, covering Venture Capital activity in Michigan during 2016.
Key highlights include:
- There were 141 active venture-backed startups in Michigan in 2016, which is a 48% increase in the last five years.
- 54 startups in Michigan received more than $222M from Michigan venture capital firms in 2016, a 42% increase from the previous five years.
- Every $1 invested in a Michigan startup by a Michigan venture capital firm attracts $4.61 of investment from outside of Michigan.
- There are 33 venture firms headquartered or with an office in Michigan.
- Total venture capital under management in Michigan in 2016 was $4 billion, a 34% increase in the last five years; however, a 24% decrease over the previous year.
- In the last five years, the number of venture capital investment professionals living, working and investing in Michigan has increased by 41%.
- $16.9 million was invested in Michigan startups led by a CEO who is a minority, is female, or identifies as LGBTQ.
- This year, MVCA expanded the research report to include mobility as a sector of focus. 6% of all investments made by Michigan venture capital firms were in mobility startups.
To listen, click on https://soundcloud.com/podcastdetroit/m2techcast-episode-78-mvca-assoc-dir-emily-heintz
