With the entrepreneurial ecosystem expanding from coast to coast, venture investors deployed capital to 3,662 companies located in 133 Metropolitan Statistical Areas (MSA) in 2015, according to the MoneyTree™ Report by PricewaterhouseCoopers LLP (PwC) and the National Venture Capital Association (NVCA), based on data from Thomson Reuters.
Michigan MSA’s making the Top 133 Include:
- Ann Arbor – 24th, 25 deals, 22 companies, total investment $221 million
- Detroit – 37th, 16 deals, 14 companies, total investment $78 million
- Grand Rapids – 53rd, 5 deals, 5 companies, total investment $12 million
- Kalamazoo – 66th, 4 deals, 3 companies, total investment $4.2 million
- Lansing – 77th, 2 deals, 2 companies, total investment $6 million
“Contrary to popular belief you don’t have to be an entrepreneur living in San Francisco, New York or Boston to receive venture capital funding. There are pockets of innovation all across the United States, and as long as you have a groundbreaking idea with high-growth potential you are well positioned to attract venture capital funding to help grow your business,” said Bobby Franklin, President & CEO of NVCA. “As more cities, states and municipalities dedicate greater resources to foster the growth of their local ecosystems, venture investors are taking notice and deploying capital across much larger areas of the country. This not only helps the entrepreneurs themselves but local economies as well through job creation and sustained economic growth.”