Midwest venture capital firm with Ann Arbor investment office lands $15 million
A venture capital firm with an active presence in Ann Arbor has secured $15 million from a Michigan venture investment fund.
Venture Investors — which is based in Madison, Wis., but has an office at the First National building in downtown Ann Arbor — received the investment from the Venture Michigan Fund II.
Venture Investors, which raised the cash through its Venture Investors Early Stage Fund V, said it plans to invest in 15 to 18 companies. Investments will range from $7.5 million to $12.5 million, according to a news release.
Venture Michigan Fund II, managed by global investment firm Credit Suisse, is a $120 million fund created a year ago to invest in venture capital companies with significant Michigan operations.
Venture Investors has made a number of high-profile investments in local companies, including Ann Arbor-based NanoBio Corp., which is viewed as one of Michigan's most promising biotech startups.
“The Venture Investors team has a proven track record and we look forward to working with them and sharing in their success," Credit Suisse's Sean O’Donnell said in a statement.
Crain's Detroit Business reported that Venture Investors is hoping to raise $150 million for its new investment fund.
Contact AnnArbor.com's Nathan Bomey at (734) 623-2587 or email@example.com. You can also follow him on Twitter or subscribe to AnnArbor.com's newsletters.
Tue, Mar 20, 2012 : 1:34 p.m.
Where are the people that complain about Ann Arbor (and Madison) being Marxist enclaves? I guess when there is a story that does not fit with their preconceived notions they lose reading comprehension?