FOF/VC  Venture Michigan Fund

http://www.venturemichigan.com





     Office Locations:

c/o GCM Customized Fund Investment Group
260 E. Brown Street, Suite 317
Birmingham, MI 48009
Phone: 248-619-1862
Fax: 248-743-4191

 

Stages:

  • Early


 

Industries:

  • Defense & Homeland Security
  • Information Technology
  • Life Sciences & Healthcare
  • Manufacturing & Industrial

  •  

    Description:

    Venture Michigan Fund (VMF) seeks to promote Michigan's economic health by assisting in the creation of new jobs, new businesses and new industries. VMF operates a fund-of-funds that invests in private equity managers who invest primarily in Michigan-based early stage venture capital companies. A $95 million venture capital fund investment program was formed under the Michigan Early Stage Venture Investment Act of 2003. As per the Act of 2003, the capital for the program is not provided by the State but raised from outside investors. To encourage investment in VMF, the Michigan Department of Treasury agreed to provide investors with up to $450 million of tax voucher certificates that could be used as a form of 'currency' to offset any shortfall in debt servicing by fulfilling an equivalent amount of Single Business Tax and/or withholding tax obligations of the investors. CFIG was chosen as manager for the program through an RFP process and was engaged in January 2006. Michigan possesses identifiable expertise in several areas, including the following clusters of innovation: Life Sciences, Advanced Manufacturing, Information Technology, and Homeland Security. The Venture Michigan Fund II, Limited Partnership (VMF II) is a $120 million fund launched in 2011. VMF II will begin to accept information from interested fund managers in February of 2011.


     

    Funds:


      Fund Name


      Amount


      Date

    Get funds under management for this firm including Fund name, Dollar size of fund raise, and Vintage with a National Database subscription.



    Investment Firm Key

       VC = Venture Capital
       PE = Private Equity
       A = Angel
       I = Incubator
       MB = Merchant Bank
       VD = Venture Debt
       FI = Family Investment Office
       FOF = Fund of Funds
       ED = Economic Development Office   
       TT = Technology Transfer Office
       CVC = Corporate Venture Capital
       SEC = Secondary Purchaser
       HF = Hedge Fund/Mutual Fund
       
       
       
    COMPANY STAGEREVENUE
    Venture Capital
    Seed Stage
    (includes "pre-seed," or
    concept stage)
    No Revenue
    Early StageMinimal
    Revenue
    Growth Stage
    (also called Mid-stage)
    $2M-$7M
    Expansion Stage
    (also called Late-stage)
    $7M and greater
    Private Equity
    Lower Middle Market$10M-$249M
    Middle Market$250M-$499M
    Upper Middle Market$500M-$1B
    Large Cap>$1B
       
       
     

    Investment Team:


    Name   Title
    Get the complete investment team + individual email addresses for investment team partners. Get personal images, LinkedIn links, investment specialties, office locations and more with a National Database subscription.
    Kelly Williams Managing Director
    Melford Carter Principal
    Mike Kell Vice President
    Sean O'Donnell Vice President

     

    Portfolio companies include:


      Aboretum Ventures
        web link


      Chrysalis Ventures
        web link


      Early Stage Partners
        web link


      Fletcher Spaght Ventures
        web link


      North Coast Technology Investors
        web link


      Nth Power
        web link


      RPM Ventures
        web link


      TGap Ventures
        web link


      Venture Investors
        web link


     

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