Venture Michigan Fund I Makes First Investment Commitments To Boost Jobs and Entrepreneurial Business Growth in Michigan.Investment Fund Gains Momentum on Developing Early Stage Companies Leading to the Creation of Future Michigan-Based Jobs SOUTHFIELD, Mich. -- The Venture Michigan Fund I (VMF VMF Variable Message Format VMF Vehicle Maintenance Facility (McMurdo Station, Antarctica - USAP) VMF Ventromedial Prefrontal Cortex (brain region) VMF Valve Map File I) announced today its first round of investment commitments to three venture capital firms Name Location Founding date Managing Partners/Directors Specialty Capital managed 5AM Ventures Menlo Park, CA; Waltham, MA 2002 John Diekman, PhD (managing partner), Scott Rocklage, PhD (managing partner), Andrew Schwab (managing partner) life sciences $200M [1] focused on growing early stage technology companies in Michigan. Individual investment amounts were not disclosed, but Credit Suisse's Customized Fund Investment Group, the VMF I fund manager, will make investment commitments totaling $95 million to venture capital funds Venture Capital Funds An investment fund that manages money from investors seeking private equity stakes in small and medium-size enterprises with strong growth potential. Notes: over a commitment period of up to three years. The Venture Capital firms selected through a competitive RFP (Request For Proposal) A document that invites a vendor to submit a bid for hardware, software and/or services. It may provide a general or very detailed specification of the system. 1. (business) RFP - Request for Proposal. 2. process to receive investment from Venture Michigan Fund I are: * Arboretum arboretum: see botanical garden. arboretum Place where trees, shrubs, and sometimes herbaceous plants are cultivated for scientific and educational purposes. An arboretum may be a collection in its own right or a part of a botanical garden. Partners, based in Ann Arbor Ann Arbor, city (1990 pop. 109,592), seat of Washtenaw co., S Mich., on the Huron River; inc. 1851. It is a research and educational center, with a large number of government and industrial research and development firms, many in high-technology fields such as , is an early stage venture capital firm focusing on medical device, diagnostic and healthcare services investments * N(th) Power, the leading venture capital firm in the energy sector based in San Francisco, California “San Francisco” redirects here. For other uses, see San Francisco (disambiguation). The City and County of San Francisco (EN IPA: [sænfrənˈsɪskoʊ] * Venture Investors, LLC (Logical Link Control) See "LANs" under data link protocol. LLC - Logical Link Control , based in Madison, Wis., makes seed and early stage investments in Midwest-based health care and information technology companies N(th) Power will partner with Michigan-based NextEnergy to identify attractive early stage alternative energy opportunities located within Michigan, and Venture Investors, LLC, will open an office in Michigan. "We were very pleased with the quantity and quality of the managers who responded to the Venture Michigan Fund," said Kelly Williams Kelly Williams (born February 2, 1982 in Detroit, Michigan, USA) is a Filipino-American professional basketball player currently playing with the Sta. Lucia Realtors. He plays in the forward position. He is a prolific scorer and also a dunk artist. , managing director of Credit Suisse's Customized Fund Investment Group, the manager of VMF I. "Arboretum, N(th) Power and Venture Investors each have demonstrated a real commitment to growing Michigan-based businesses and we are anxious to begin working with them." The Venture Michigan Fund was created in 2006 to grow and develop venture capital funds that have a presence in Michigan and that target investments in Michigan-based start-up companies engaged in research, technology and new product development. Fund investments will benefit a variety of emerging technologies including advanced manufacturing and industrial technology, alternative energy, health care and life sciences, homeland security Noun 1. Homeland Security - the federal department that administers all matters relating to homeland security Department of Homeland Security executive department - a federal department in the executive branch of the government of the United States and defense, and information technology. Venture capital funds receiving capital commitments will be required to invest in Michigan-based companies with at least an amount equal to the commitment received from VMF I. "These three investments from the Venture Michigan Fund will significantly increase much needed venture capital for Michigan companies," said Thomas Kinnear, chairman of the Venture Michigan Fund Board and director of the University of Michigan's Samuel Zell and Robert H. Lurie Institute for Entreprenurial Studies. "It is especially exciting to note that recipients include a fund established in Michigan, a Midwest-based fund that will open an office in Michigan, and a California-based fund that is partnering with Michigan's NextEnergy. Each of these funds will have a significant presence in Michigan and add to the number of venture capital firms active in our state." The Venture Michigan Fund, a Michigan nonprofit corporation nonprofit corporation n. an organization incorporated under state laws and approved by both the state's Secretary of State and its taxing authority as operating for educational, charitable, social, religious, civic or humanitarian purposes. , promotes Michigan's economic health by fostering job creation, retention, and expansion through the promotion of investment in venture capital funds specializing in seed and early stage investments. VMF I is a $95 million venture capital fund investment program formed under the Michigan Early Stage Investment Act of 2003. For more information visit the VMF I website at www.venturemichiganfund.org. About the firms Arboretum Ventures based in Ann Arbor, Michigan  “Ann Arbor” redirects here. For other uses, see Ann Arbor (disambiguation). Ann Arbor is a city in the U.S. state of Michigan and the county seat of Washtenaw County. , focuses on early stage investments in medical device, diagnostic, and health care services companies. The firm's first fund, with $24 million in capital commitments, has made in investments in several Michigan-based companies including Asterand, HandyLab, HealthMedia, and Thermocure. N(th) Power, based out of San Francisco, California, is a leading venture capital firm in the alternative energy sector. The firm recently announced a partnership with Detroit-based NextEnergy Center, an alternative energy industry accelerator founded to enable the commercialization of energy technologies that positively contribute to economic competitiveness, energy security and the environment. Under the partnership, NextEnergy would assist N(th) Power in identifying attractive early stage alternative energy opportunities in Michigan, and will perform due diligence Research; analysis; your homework. This term has caught on in all industries, because it sounds so "wired." Who would want to do analysis or research when they can do due diligence. See wired. and monitor portfolio companies. The partnership will provide Michigan-based companies with access to N(th) Power's broad spectrum of international venture capital networks and resources. "NextEnergy is delighted to align with N(th) Power, a pioneer in venture capital investing in the alternative energy sector," said James Croce, NextEnergy's chief executive officer. "Through our strategic alliance with Nth Power and the State of Michigan, significant financial and human capital will be infused into Michigan's burgeoning alternative energy industry." Nth Power currently has two Michigan-based portfolio companies, STM (Scanning Tunneling Microscope) A microscope that can image down to the atomic level. An STM uses a piezoelectric tube with a tiny sharp tip at the end that is moved within nanometers of the object being sampled. Power, based in Ann Arbor, and an undisclosed investment located in Southeastern Michigan. Venture Investors, LLC, based out of Madison, Wisconsin, makes seed and early stage investments in Midwest-based health care, and information technology companies. The firm will be opening an office in Ann Arbor that will be staffed by a full time representative. "Over the last two decades, the driving force behind Venture Investors' success has been our track record of backing early stage spin-outs from the nation's fourth largest research institution, the University of Wisconsin-Madison “University of Wisconsin” redirects here. For other uses, see University of Wisconsin (disambiguation). A public, land-grant institution, UW-Madison offers a wide spectrum of liberal arts studies, professional programs, and student activities. ," said John Neis, co-founder and managing director of Venture Investors. "The commitment from the Venture Michigan Fund gives us an opportunity for a natural extension of our model by establishing a second office in Ann Arbor, where we will be in the backyard of the nation's third largest research institution, the University of Michigan (body, education) University of Michigan - A large cosmopolitan university in the Midwest USA. Over 50000 students are enrolled at the University of Michigan's three campuses. The students come from 50 states and over 100 foreign countries. as well as other Michigan universities with strong technology transfer capabilities." NextEnergy, Michigan's alternative energy accelerator, is a non-profit corporation founded to enable the commercialization of energy technologies that positively contribute to economic competitiveness, energy security and the environment. NextEnergy drives energy technology collaborations, market development, and new business venture support to position Michigan as a leader in the emerging alternative energy industry. Credit Suisse is one of the world's leading banks, providing its clients with investment banking, private banking and asset management services worldwide. Credit Suisse offers advisory services advisory services advisory services provided to the public, in their capacity as owners and managers of animals, are an important part of veterinary science. They may be provided by government bureaux, by commercial companies who deal in pharmaceuticals or animals or animal , comprehensive solutions and innovative products to companies, institutional clients and private clients globally. Credit Suisse is active in over 50 countries and employs approximately 40,000 people. |
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