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MVCA Annual Report: Venture Community is Growing in Size, Deals

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ANN ARBOR — The Michigan Venture Capital Association Monday released its annual research report, which details investment activity across the state.  The report also highlights venture capital activity in Michigan compared to other regions and the United States.

“The data collected in the MVCA research report show that Michigan’s venture community is growing, both in size and deals,” said Tim Petersen, MVCA board chair.  “It’s particularly exciting to see significant growth — 64 percent — in venture capital under management by Michigan firms as well as a trend towards larger fund sizes. Michigan is making steady gains in its efforts to be a destination for entrepreneurial business.”

MVCA’s research report findings include:

* Michigan start-up companies received $191 million in venture capital investment during 2011. There were 38 total investments, including 22 new companies that received a first round of venture capital funding.

* In Michigan, the number of venture firms, investment professionals, and capital under management have all increased.  The 54 funds managed by venture capital firms in Michigan had 335 active portfolio companies.

* Venture capital under management among firms headquartered in Michigan increased by 64 percent over the last 5 years. Of the $3 billion of venture capital under management, nearly $370 million is available for new investments within and outside Michigan.

* In 2011, four Michigan venture capital firms successfully closed their funds, raising a total of $348 million. Arboretum Ventures and Plymouth Venture Partners are headquartered in Michigan while MK Capital and Arsenal Ventures have Michigan offices.

* As venture firms raise their next funds, the trend for larger fund sizes continues. Michigan now has six funds that are greater than $100 million. There are eight funds between $50 million and $100 million and 13 funds less than $50 million.

The MVCA annual research report is available to its members, legislators, and Limited Partners. It’s also available upon request.

More at www.michiganvca.org

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