Capital
Capital. Funding. Money and so much more. Capital is the lifeblood of a start-up, because it fuels the growth phase. Capital matters, regardless of your stage in development. So whether you're just getting started or ready to launch, capital helps catapult your venture to the next level. Whether you need staffing, equipment, real estate, services or other resources, tap into local regional funding.
Arboretum Ventures
Early-stage venture capital firm specializing in the health care sector, focusing on investments in medical technology and health care services. Helps companies in strategy, operations, recruiting, fundraising and exit planning.
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Arbor Partners
Venture capital firm helps entrepreneurs build lasting, growth companies. Invests exclusively in companies creating the next generation of enterprise software, semiconductors, and advanced materials. Also offers business-building resources to assist in the creation of companies.
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EDF Ventures
EDF Ventures is a venture capital firm investing in early-stage health care companies. EDF focuses on young companies that are developing breakthrough technologies to address large, well recognized problems or transform existing markets. EDF partners bring a wealth of direct experience that is essential to guiding young companies through its start-up and high-growth phases to become mature, profitable companies.
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Momentum
Momentum is a Michigan-based venture firm investing in Web-based technology start-ups. Each year, Momentum hosts an open competition inviting high-tech entrepreneurs the chance to compete for first-round funding for further development of their ideas, to participate in 12 weeks of customized entrepreneurial training and to pitch their newly-developed innovations to second-round investors.
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RPM Ventures
High-tech and information technology venture firm that primarily invests in seed and early-stage companies selling to manufacturing or automotive sector also companies based on novel technologies developed at Midwest research institutions. Assists in building sales pipeline, recruiting, strategy and product development and securing financing.
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TGap Ventures LLC
TGap Ventures focuses primarily on early-stage investments throughout the Midwest, including medical devices, software, specialty manufacturing, Internet, telecommunications, health care, and other high growth companies. TGap works closely with portfolio companies on systems development, senior management recruiting, new customer contact, strategic partnerships and additional financings.
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Why Take Venture Capital
Roizen talks about her experience in taking venture capital. She learned that if one can use venture funds judiciously to raise the inflection point, then it makes sense to do it. For her, it was an economic decision. Other reasons to take VC money involve credibility issues. Customers want to see that you have partners and money in the bank to prove that you will be around, she says.
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North Coast Technology Investors LP
North Coast invests in early-stage technology-driven companies with outstanding growth prospects in the Midwest. Most investments North Coast makes are in companies where an entrepreneur, an emerging technology and a promising market opportunity are identifiable and consistent with the venture model. North Coast will invest in seed stage and start-up companies.
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Guy Kawasaki on Funding
Kawasaki talks about two examples of early-stage funding, bootstrapping and venture capital, and the benefits and drawbacks of both. Ultimately, he believes that too much money is worse than not enough money, and that both methods can be successful of a smart approach is taken with the funds that are received.
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Venture or Corporate Investment?
VC's give entrepreneurs money and want to get a lot more of it back sometime in the future, Roizen says. Unlike VC's, corporate investors generally want an early view into the technology and sweet deals from a business development perspective.
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Michigan Accelerator Fund
The Charter Group, a Grand Rapids, Mich. based business broker, has formed with the Michigan Strategic Economic Investment & Commercialization Board to launch a new, $10m fund, to be named The Michigan Accelerator Fund I. The state government has invested $6m and it is hoped this can be used to leverage inbound investment from local investors, to bring the fund up to its target of $10m. It is planned to invest seventy percent of the new fund into life sciences companies, with the balance going to advanced manufacturing, homeland security and alternative energy. Dale Grogan, co-managing director for Michigan Accelerator Fund I, said “It’s a tremendous opportunity. Now if we do our jobs right, we can generate great returns, not only for the state but for the other investors. We just feel like we have a tremendous responsibility. The burden is on us to represent West Michigan appropriately and do our jobs.” Formation of the fund has been supported my many Grand Rapids educational establishments, including Grand Valley State University, Michigan State University, West Michigan Science & Technology Initiative and the Van Andel Research Institute. Investors Grand Angels, The Right Place Inc., Lakeshore Advantage and Hope River Ventures also all helped to set the fund in motion, which over and above the $6m seed funding, already has an additional $1.25m committed.
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