Michigan’s venture capital landscape is home to a diverse and active set of firms that play a pivotal role in advancing innovation and economic growth across sectors such as healthcare, technology, and consumer services. Known for its deep-rooted industry expertise and emerging tech hubs in cities like Detroit, Ann Arbor, and Grand Rapids, Michigan’s VC scene is expanding in both volume and impact. Firms like Annox Capital, Arboretum Ventures, and Ludlow Ventures are leading the way with notable investments and impressive portfolios, positioning Michigan as a formidable player in the Midwest venture ecosystem. This article explores some of the state’s most active venture capital firms, highlighting their leadership, key investments, and track records in fostering successful exits.

Annox Capital

• 🏦 HQ: Birmingham, Michigan

• 👨‍💻👩‍💻 Leadership: Bob Mylod

• 🔢 Number of Investments: 50-100

• 💰️ Number of Exits: 10-50

• 👜 Notable Portfolio companies: Dropbox, Cazoo, Deliveroo

Arboretum Ventures

• 🏦 HQ: Ann Arbor, Michigan

• 👨‍💻👩‍💻 Leadership: Jan Garfinkle, Tom Shehab, MD, Dan Kidle, Tim Petersen

• 🔢 Number of Investments: 100-200

• 💰️ Number of Exits: 10-50

• 👜 Notable Portfolio companies: Koya, SonarMD, RareCyte

Augment Ventures

• 🏦 HQ: Ann Arbor, Michigan

• 👨‍💻👩‍💻 Leadership: Sonali Vijayavargiya

• 🔢 Number of Investments: 10-50

• 💰️ Number of Exits: 1-10

• 👜 Notable Portfolio companies: Channel, Celera, Rivet

Banana Capital

• 🏦 HQ: Michigan

• 👨‍💻👩‍💻 Leadership: Turner Novak

• 🔢 Number of Investments: 50-100

• 💰️ Number of Exits: 1-10

• 👜 Notable Portfolio companies: BeReal, ScienceIO, Upwards

Beringea

• 🏦 HQ: Farmington Hills

• 👨‍💻👩‍💻 Leadership: Charles Rothstein, Michael Gross, William Blake III

• 🔢 Number of Investments: 300-400

• 💰️ Number of Exits: 50-100

• 👜 Notable Portfolio companies: Mothdrinks, Optilogic, Dash

BioStar Capital

• 🏦 HQ: Charlevoix, Michigan

• 👨‍💻👩‍💻 Leadership: Louis Cannon

• 🔢 Number of Investments: 50-100

• 💰️ Number of Exits: 10-50

• 👜 Notable Portfolio companies: ariacv, foldax, revamedical

eLab Ventures

• 🏦 HQ: Ann Arbor, Michigan

• 👨‍💻👩‍💻 Leadership: Paul Brown, Doug Neal, Bob Stefanski

• 🔢 Number of Investments: 10-50

• 💰️ Number of Exits: 10-50

• 👜 Notable Portfolio companies: Cobalt, Aperia, Lineleap

Fontinalis Partners

• 🏦 HQ: Detroit, Michigan

• 👨‍💻👩‍💻 Leadership: Chris Cheever, Laura Petterle, Chris Stallman

• 🔢 Number of Investments: 100-200

• 💰️ Number of Exits: 10-50

• 👜 Notable Portfolio companies: CelLink, Highland, Etched

General Motors Ventures

• 🏦 HQ: Warren, Michigan

• 👨‍💻👩‍💻 Leadership: Zach Kirkman, Anirvan Coomer

• 🔢 Number of Investments: 50-100

• 💰️ Number of Exits: 10-50

• 👜 Notable Portfolio companies: AEye, EnergyX, Deliv

Grand Ventures

• 🏦 HQ: Grand Rapids, Michigan

• 👨‍💻👩‍💻 Leadership: Tim Streit

• 🔢 Number of Investments: 10-50

• 💰️ Number of Exits: 1-10

• 👜 Notable Portfolio companies: Chain.Oi, CameraQi, drOp

Huron River Ventures

• 🏦 HQ: Grand Rapids, Michigan

• 👨‍💻👩‍💻 Leadership: Ryan Waddington

• 🔢 Number of Investments: 10-50

• 💰️ Number of Exits: 10-50

• 👜 Notable Portfolio companies: Deliv, Skyspecs, Aatmunn

ID Ventures

• 🏦 HQ: Detroit, Michigan

• 👨‍💻👩‍💻 Leadership: Martin Dober, Patti Glaza, Lee Rawlings

• 🔢 Number of Investments: 200-300

• 💰️ Number of Exits: 10-50

• 👜 Notable Portfolio companies: BrandXR, Claira, Larky

Ludlow Ventures

• 🏦 HQ: Detroit, Michigan

• 👨‍💻👩‍💻 Leadership: Jonathon Triest

• 🔢 Number of Investments: 200-300

• 💰️ Number of Exits: 50-100

• 👜 Notable Portfolio companies: 100 Thieves, Alleyoop, Brud

Plymouth Growth

• 🏦 HQ: Ann Arbor, Michigan

• 👨‍💻👩‍💻 Leadership: Jeff Barry, Brook Critchfield, Kevin Terrasi

• 🔢 Number of Investments: 50-100

• 💰️ Number of Exits: 10-50

• 👜 Notable Portfolio companies: 3bgsupply, Able, Forj

Red Cedar Ventures

• 🏦 HQ: East Lansing, Michigan

• 👨‍💻👩‍💻 Leadership: David Washburn

• 🔢 Number of Investments: 300-400

• 💰️ Number of Exits: 10-50

• 👜 Notable Portfolio companies: Munetrix, Claira, Labr

RPM Ventures

• 🏦 HQ: Ann Arbor, Michigan

• 👨‍💻👩‍💻 Leadership: Adam Boyden, Tony Grover, Marc Weiser

• 🔢 Number of Investments: 100-200

• 💰️ Number of Exits: 50-100

• 👜 Notable Portfolio companies: Able, biproxi, Convey

Michigan’s venture capital firms continue to grow their influence across various sectors, supporting innovative startups and nurturing them into market leaders. From established players with hundreds of investments, like Beringea and Invest Detroit, to specialized firms such as BioStar Capital and Augment Ventures, Michigan’s VC ecosystem is thriving. These firms don’t just provide funding; they contribute strategic guidance, sector expertise, and valuable networks that help shape the entrepreneurial landscape in Michigan and beyond. As the state attracts more entrepreneurial talent and builds a resilient ecosystem, Michigan’s venture capital firms are well-positioned to sustain their momentum and amplify their impact on the future of innovation.