ANN ARBOR -Renaissance Venture Capital has closed its fourth fund with $77.5 million of new capital. Since it opened in 2008, Renaissance has raised over $280 million, making it the largest “fund of funds” of its kind in the United States. Renaissance has become a role model for similar funds that have emerged in Cincinnati,
DETROIT - Navv Systems, a Detroit-based healthcare technology company focused on hospital personnel location and equipment tracking and location services, announced the close of a $3.2 million seed funding round led by Arboretum Ventures. Detroit Venture Partners also joined the financing along with existing investors including Narrow Gauge Ventures. Navv has developed an indoor navigation
SEATTLE - Venture capital dealmaking started strong in the first quarter of 2021 with an uptick in mega-deals and increased participation of nontraditional investors, according to a new report. The proliferation of mega-deals ($100 million+), once considered to be anomalies a few years ago, have become commonplace. In fact, mega-deal value in the first quarter
WASHINGTON, DC - The U.S. venture ecosystem ended 2020 with more than 10,800 companies across the country receiving venture funding and approximately 1,965 VC firms managing 3,680 venture funds with $548 billion in assets under management (AUM), according to the National Venture Capital Association 2021 Yearbook, with data provided by PitchBook. The NVCA 2021 Yearbook is an
DETROIT–ID Ventures, the venture capital arm of Invest Detroit, the non-profit that supports business and real estate projects in the city and region, announced that it has been selected by the Google Developers Launchpad to provide scaling resources to startups in Detroit and Michigan. ID Ventures is Google’s first such partner in the continental United
ANN ARBOR - Ripple Science Corp., a HIPAA-compliant clinical research software company, has raised $2.5 million through equity financing, with more than 80 percent coming from funds outside Michigan. The funding round was led by Omaha-based Dundee Venture Capital, according to President and CEO Peter Falzon. Other participants include the Rise of the Rest seed fund, from
ANN ARBOR – A new report shows there are 37 venture-backed startups in Detroit’s growing startup community, a 54 percent increase in the last five years. These findings come from EntryPoint, an organization that uses a data-driven approach to advance entrepreneurship, today announced the release of the 2019 Detroit Entrepreneurial Ecosystem Report. “EntryPoint has diligently surveyed
DETROIT—Bloomscape, a direct-to-consumer plant company based in downtown Detroit, announced $7.5 million in Series A funding. Washington, D.C.-based Revolution Ventures led the round with participation from New York City-based Endeavor Global Inc., along with existing investors, and consumer brand founders including Allbirds co-founder Joey Zwillinger, Away co-founder Jen Rubio, Eventbrite co-founder Kevin Hartz, Harry’s co-founder
DETROIT—The Detroit startup “stock market of things” StockX announced the largest venture capital raise in Michigan history, a $110 million Series C financing round that values the company at more than $1 billion. Participating in the investing round were Hong Kong-based DST Global, New York City-based General Atlantic, and Menlo Park, Calif.-based GGV Capital. The company also
DETROIT – Huron Capital announced its building automation and energy services platform, Albireo Energy, has acquired EMS Technologies, which builds automation and network integration products and services. The deal marks the 10th transaction for Albireo, an initiative launched by Huron Capital to provide smart building automation and energy services to commercial and institutional customers throughout
