Ara Topouzian, Executive Director of the Michigan Venture Capital Association (MVCA) and Chris Holman cover the association's annual research report. The 2021 MVCA Annual Report indicates that 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.

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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.

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