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2021 MVCA Research Report RELEASE!

Michigan Business Network
April 21, 2021 2:00 PM

0b9c50a0-895f-4a16-ab0c-b8102cd7d748Each April the Michigan Venture Capital Association releases an annual research report, here's this year's!

Strong Michigan venture firms are a critical factor in the success of Michigan startups. With Michigan venture investors backing nearly every Michigan venture-funded startup, the health of our state’s entrepreneurial economy hinges on our ability to provide capital to our high-growth, high-potential companies.

Key Findings:

  • There are 165 venture-backed startups in Michigan, an increase of 17 percent over the last five years.
  • Total venture capital funds under management of firms headquartered in Michigan in 2020 was $2.8 billion, an increase of 28 percent over the last five years.
  • Total venture capital under management in Michigan is $3.7 billion, a decrease of 31 percent over the last five years.
  • 15 percent of Michigan venture-backed startups were led by a CEO who is a person of color, compared to 7.4 percent of CEOs of Fortune 500 companies nationally.
  • Every dollar invested by a Michigan startup by a Michigan venture capital firm attracts $9.70 of investment from outside of Michigan.
  • in Michigan, 102 startups raised over $49.5 million from angel investors in 2020.

#MVCAResearchReport #MVCA2021 

CLICK HERE TO VIEW THE 2021 RESEARCH REPORT

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Earlier today at 10 am, EST MVCA held a webinar that allowed for discussion of the findings of the release of the 2021 MVCA Research Report. This virtual networking event featured a review of some of the major conclusions drawn from our report, followed by a one-hour virtual networking with diverse investors spanning a broad range of experience and geographic/stage/sector focus. If we secure any video footage, we will be sure to circle back and add it to this story coverage. MBN will be interviewing MVCA Executive Director Ara Topouzian tomorrow, so watch for that video and podcast over the following days.

Agenda (EST)
10:00am:  Research Report Presentation (Michael Gross, Jeff Rinvelt, Ara Topouzian)   
10:30am:  Q&A   
11:00 – 12:00pm: Networking Sessions  


Special thanks to Michigan Economic Development Corporation for supporting this event!

A special thank you to all of MVCA’s Service Providers in 2021, including: VarnumPepper HamiltonBodmanJaffe Raitt Heuer & WeissGunderson DettmerBank of Ann ArborFishman StewartKerr Russell, Frost Brown Todd, Attorneys, LLC, Plante Moran, and Warner Norcross + Judd.

About Michigan Venture Capital Association
The Michigan Venture Capital Association (MVCA) is a nonprofit trade organization founded in 2002 to increase the amount of capital and talent available to venture and angel investors for the funding of Michigan’s most innovative entrepreneurs. The organization works closely with entrepreneurs to transform breakthrough ideas into new companies and industries that drive Michigan job creation and economic growth. MVCA membership includes private and corporate venture capital funds, angel investors, universities and economic development organizations, and service providers. More than 400 individuals are members of MVCA, representing over 100 organizations across the nation. For more information, visit www.MichiganVCA.org.

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Michigan Business Network is an online broadcasting company that provides knowledge, news, and insights into Michigan’s businesses, industries, and economy.