MVCA 2011 Annual Report - Grand Angels

ANgEL ANd PRE-SEEd ACTIVITY IN MIChIgAN
The MVCA and the State of Michigan recognize the need to support the growth and
development of a vibrant angel community here in Michigan. To that end, the Michigan
Economic Development Corporation is funding a new Angel Network Growth Program through
the MVCA designed to provide support for Angel groups in the state. The program provides
grants to support deal flow activity, member recruitment and to cover administrative costs.
Michigan-based Angel Investor Networks and Angel Funds
185 high net worth individuals participate in the Angel Networks and Angel Funds
ANGEL NETWORKS
n Ann Arbor Angels
n Blue Water Angels
n Capital Community Angels
n Grand Angels
n Great Lakes Angels
Michigan Pre-Seed Capital Fund
ANGEL FUNDS
n Belle Capital
n Grand Angels Side Car Fund
The Michigan Pre-Seed Capital Fund is a significant resource to help companies in the seed and early investment stages.
The $25 million equity fund is a collaborative effort with Michigan’s 14 SmartZones, providing investments for 67
companies and creating nearly 355 jobs to date. Investing in technology-based companies, the fund supports business
formation and acceleration and is administered by Ann Arbor SPARK.
Microloan Programs
In addition to traditional equity investment, there are
several programs around the state such as First Step Fund
in Detroit and Michigan Microloan Fund Program, managed
by Ann Arbor Spark, that provide up to $50,000 to start-up
enterprises in the forms of loans and/or convertible notes.
These programs fill the need for very early stage funding
to assist business incubation. n
ANGEL
MVCA 2011 VENTURE CAPITAL REPORT
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