Michigan has rapidly become a thriving hub for startups, attracting significant venture capital investment across various industries. With a robust ecosystem of investors, accelerators, and resources, the state offers countless opportunities for founders looking to scale their companies.
From top-tier venture capital firms like Plymouth Growth, Courtside Ventures, and Detroit Venture Partners to a wide range of resources designed to support entrepreneurs, Michigan presents a fertile ground for business growth.
This article explores the key venture capital firms in Michigan, valuable resources for fundraising, and important networking and pitch events, providing founders with the insights they need to successfully raise capital and navigate Michigan’s dynamic startup ecosystem.
Top VCs in Michigan
Plymouth Growth
About: At Plymouth Growth, we invest in growth-stage technology companies - with proven business models and strong teams - that are ready to scale.
Courtside Ventures
About: Courtside Ventures invests in early-stage companies focused on sports, gaming, and collectibles.
Detroit Venture Partners
About: Detroit Venture Partners is an American venture capital firm that funds seed- and early-stage technology companies.
Sweetspot check size: $ 250K
Thesis: Detroit Venture Partners is an American venture capital firm that funds seed- and early-stage technology companies.
Michigan Rise
About: Michigan Rise Pre-Seed Fund III supports the growth and success of Michigan-based technology startups by providing strategic early-stage venture funding. In partnership with the MSU Research Foundation and Michigan Economic Development Corporation (MEDC), we connect founders with the resources and support they need to scale and thrive.
Michigan Capital Network
About: MCN is one of Michigan’s most active and consistent investment organizations. Our objective is to build world-class companies and entrepreneurial talent through investment and mentoring. We are only successful if the people with whom we invest are successful. Our group is committed to utilizing our financial, intellectual, and networking resources to help our portfolio companies achieve more. Our commitment is to grow strong entrepreneurs and companies in Michigan and the Midwest region.
Invest Michigan
About: Invest Michigan is a non-profit funded by the Michigan Strategic Fund. As fund manager for both the Michigan Pre-Seed Fund 2.0 and the University Commercialization Fund, Invest Michigan invests in early-stage high tech businesses located in Michigan.
The Michigan Pre-Seed Fund 2.0 is an investment fund aimed at supporting pre-seed and seed stage technology companies located in Michigan. The MPSF 2.0 offers equity or convertible debt initial investments ranging from $50,000 – $150,000 with the goal of supporting our portfolio companies with additional follow-on investments.
eLab Ventures
About: eLab Ventures is a Silicon Valley and Michigan-based early stage venture capital fund with significant experience in building and investing in disruptive technology that is fueling the rise of autonomous and connected vehicles which we believe will be the most disruptive development in transportation since the invention of the automobile itself.
Thesis: Building and investing in companies leveraging disruptive technologies, including autonomous and connected vehicles.
Grand Ventures
About: We have invested in some of the fastest growing companies in North America alongside some of the most prestigious venture funds. We pride ourselves on supporting great entrepreneurs from inception through rapid growth to maturity and helping out at each stage of the journey.
Our sweetspot is to write $500K-$2MM checks for companies raising their first institutional round of funding. Beyond our capital investment, we help entrepreneurs with refining strategy and focus, talent development, and business development. Our goal is to help entrepreneurs achieve successful follow-on rounds and future exits.
Thesis: Grand Ventures is an early stage venture fund investing in seed stage B2B SaaS companies in emerging regions of the US and Canada focused on Supply Chain, Fintech, DevOps, and Digital Health.
Arboretum Ventures
About: Arboretum Ventures is a venture capital firm targeting investments in early-stage life sciences companies. Their areas of focus include: medical devices and diagnostics; pharmaceuticals and biotechnology; and, health care services. Arboretum makes seed and early-stage investments, often representing the founder’s first professional investor. As such, Arboretum’s principals remain actively involved with the portfolio companies.
Ludlow Ventures
About: VC is a customer service business. Whether it's testing product, pushing pixels, leveraging our network, or forcing people to download your app, we're here to help. You make our dream jobs possible and we're forever thankful for that.
Sweetspot check size: $ 1.25M
Thesis: We believe in VC without ego. We invest with insane conviction and love backing the right teams when others think it's too early.
BioStar Ventures
About: BioStar Ventures is a venture capital based fund created by physicians and medical business leaders to invest primarily in vascular medical devices and related technology. The management and board members of the Bio-Star have proven track records within the medical industry and offer the investor decades of inside knowledge into the business of medicine as well as patient care delivery.
Michigan Capital Advisors
About: Michigan Capital Advisors is an operationally-focused private investment firm based in Metro Detroit. MCA was founded in 2016 by Charles "Chip" McClure and partners with private equity and venture capital firms to invest in industrial and renewable technology companies in emerging markets like manufacturing, mobility, and advanced materials.
Augment Ventures
About: Augment Ventures invests in exceptional teams with innovative products in enterprise software, smart hardware and physical innovation.
Thesis: We invest in transformational companies, commercializing disruptive technologies that enhance the quality of life and business efficiency across global markets.
RPM Ventures
About: RPM is a based seed and early-stage venture fund focusing on Mobility, B2B Enterprise, and Marketplaces.
Thesis: We are recognized as thought leaders and have built a wide range of strategic relationships in several focused sectors, including: mobility, automotive, enterprise software, financial services, insurance and real estate.
Biosciences Research & Commercialization Center of Western Michigan University
About: The Biosciences Research and Commercialization Center provides startup and gap funding to promising Michigan-based life sciences and medical device ventures entering the commercialization phase of development. Our customers include entrepreneurs, scientists, corporations, and University Technology Transfer offices.
Resources for Michigan Startup Fundraising
A wealth of resources designed to support entrepreneurs at various stages help navigate the startup landscape in Michigan. From accelerators and incubators to grants and angel investor networks, the state offers a robust infrastructure to aid startup growth and fundraising efforts.
Accelerators and Incubators
Engaging with accelerators and incubators can provide startups with essential mentorship, funding opportunities, and networking connections. Notable programs in Michigan include:
- Ann Arbor SPARK: This organization operates two business incubators—the SPARK Central Innovation Center in Ann Arbor and the SPARK East Innovation Center in Ypsilanti. They offer affordable office spaces, mentorship, and access to a network of business leaders to help early-stage companies reach key milestones.
- Desai Accelerator: A seven-month program based in Ann Arbor, the Desai Accelerator provides tech-enabled startups with funding, mentorship, staff support, and resources necessary for rapid growth.
- Techstars Detroit: Part of the global Techstars network, this accelerator offers $125,000 in seed funding, mentorship, and a robust network to startups, particularly those in the mobility and automotive sectors.
Grants & Non-Dilutive Funding
For startups seeking capital without equity dilution, several grants and non-dilutive funding options are available:
- Michigan Small Business Development Center (SBDC): The SBDC offers no-cost consulting services, training, and resources to Michigan small businesses. Their support includes assistance in identifying and applying for appropriate grant opportunities.
- Accelerate Michigan: This competitive pitch event targets high-growth startups, offering significant funding awards and opportunities to connect with potential investors and industry leaders.
- 20Fathoms and Venture North Grants: These organizations have awarded grants to small businesses in northwest Michigan, focusing on underrepresented entrepreneurs. Recent initiatives provided $4,500 to each of 10 small businesses to support their growth and local economic impact.
Angel Investor Groups
Connecting with angel investors and participating in pitch events can be pivotal for securing early-stage funding:
- BlueWater Angels Investment Network: Comprising over 30 high-net-worth individuals and organizations, this group invests in promising Michigan startups across various sectors. They regularly host pitch events, providing entrepreneurs with opportunities to present their ventures to potential investors.
- Michigan Angel Fund: Managed by Ann Arbor SPARK, this fund focuses on early-stage Michigan-based companies, providing capital and mentorship to foster growth. Plans are underway to raise a sixth fund to continue supporting early-stage innovation.
Best Networking & Fundraising Events in Michigan
Michigan's startup ecosystem offers a variety of networking and fundraising events that provide valuable opportunities for founders to connect with investors, mentors, and peers. Here are some notable events to consider:
1. Michigan Business Challenge (MBC)
Hosted by the Zell Lurie Institute at the University of Michigan, the MBC is a premier business plan competition that attracts student entrepreneurs from across the state. Participants compete for funding and mentorship, presenting their business ideas to a panel of judges. The competition includes an information session and a "How to Pitch" workshop to prepare participants.
2. Burgess New Venture Challenge
Organized by Michigan State University's Burgess Institute for Entrepreneurship & Innovation, this competition offers student entrepreneurs the chance to compete for over $50,000 in funding. The event emphasizes collaboration, venture development, and the entrepreneurial mindset, providing mentoring and connections to Michigan's entrepreneurial ecosystem.
Scheduled for September 15-20, 2025, Tech Week Grand Rapids is a week-long series of events that bring together technology professionals, entrepreneurs, and investors. The event features independently hosted gatherings, workshops, and networking opportunities, culminating in a large-scale conference.
4. Cleantech Open & Plug and Play Detroit Kick-Off Networking Event
This event introduces the 2025 Accelerator Program, focusing on cleantech innovations. Hosted by Cleantech Open and Plug and Play Detroit, it offers networking opportunities with like-minded individuals and insights into the accelerator program.
5. Ilitch School Startup Technology Pitch Competition
Hosted by Wayne State University's Ilitch School of Business, this competition invites current students to pitch technology-based business ideas. Teams can win cash investments, and the event provides exposure to potential investors and industry professionals.
Maximizing Networking Opportunities at These Events
To make the most of these events:
- Prepare Your Pitch: Develop a concise and compelling elevator pitch that clearly articulates your startup's value proposition.
- Engage Actively: Participate in workshops, panel discussions, and networking sessions to build relationships with potential investors and mentors.
- Follow Up: After the event, reach out to the contacts you've made to continue the conversation and explore potential collaborations or funding opportunities.
The Startup & Investment Landscape in Michigan
Key Industries Attracting Venture Capital
Michigan's startup ecosystem is experiencing significant growth, with venture capital investments focusing on several key industries:
- Automotive and Mobility: Building upon its rich automotive heritage, Michigan is a leader in mobility innovations, attracting investments in autonomous vehicles, electric transportation, and related technologies.
- Life Sciences and Healthcare: The state is home to a robust life sciences sector, with venture capital directed towards healthcare startups, medical devices, and biotech firms.
- Information Technology: Michigan's IT sector has seen substantial growth, with a 15% average increase, employing around 100,000 workers. This expansion has led to venture capital interest in software development, cybersecurity, and fintech startups.
Overview of Michigan’s Proximity to Major Markets
Strategically located in the Midwest, Michigan offers startups advantageous access to major markets:
- Access to Major U.S. Markets: Michigan's central location provides convenient access to major U.S. markets, facilitating business operations and expansion opportunities.
- International Trade: Proximity to Canada enhances cross-border trade opportunities, benefiting startups aiming for international market penetration.
Connect With Investors in Michigan Using Visible
At Visible, we often times compare a fundraise to a B2B sales and marketing funnel. At the top of your funnel, you are finding new investors. In the middle, you are nurturing and pitching potential investors. At the bottom of the funnel, you are working through diligence and ideally closing new investors.
With the introduction of data rooms, you can now manage every aspect of your fundraising funnel with Visible.
- Find investors at the top of your funnel with our free investor database, Visible Connect and find a filtered list of Michigan's investors here.
- Track your conversations and move them through your funnel with our Fundraising CRM
- Share your pitch deck and monthly updates with potential investors
- Organize and share your most vital fundraising documents with data rooms
Manage your fundraise from start to finish with Visible. Give it a free try for 14 days here.
