Michigan venture capital on the rise, report says

The Michigan Venture Capital Association (MVCA) released a report Monday highlighting growth in the number of VC firms, amount of capital and deals in recent years. Some key statistics include:

• The number of VC investment professionals jumped by 84% in Michigan over the last five years, despite a 13% decrease nationally.

• There are 33 VC firms either headquartered or with offices in Michigan, a 50% increase since 2008.

• $120 million was invested in 40 Michigan companies, a 111% surge over the last five years.

• There are 103 active venture-backed firms in Michigan, a 66% jump since 2008.

A link to the full report is available here.