Venture Investors has a new investment fund, and the venture capital firm is aiming to spread some seed capital across Michigan this year.
Venture Investors' fourth fund was worth $118 million and made 18 investments, including in local companies like
Incept BioSystems,
HistoSonics,
NanoBio and
Tissue Regeneration Systems. The venture capital firm is currently fundraising for its fifth fund, which has already made three investments.
"We are currently working on a couple in Michigan," says Jim Adox, managing director of Venture Investors. "One will hopefully be within the next 60 days."
Venture Investors has offices in Madison, Wisc., and Ann Arbor. Adox overseas the Ann Arbor office, which also employs a full-time intern. He is also looking to add an executive in residence.
Venture Investors has traditionally made investments in university spinouts in the bio-technology and life sciences areas. Adox plans to expand that target area to include technology companies with this new fund.
"The investment potential and prospects for tech companies have improved in the last few years," Adox says.
Source: Jim Adox, managing director of Venture Investors
Writer: Jon Zemke
Read more about Metro Detroit's growing entrepreneurial ecosystem at SEMichiganStartup.com.
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