©2018 Michigan Economic Development Corporation

21st Century Investment Fund Propelling State's Leadership in Emerging High-Tech Sectors

Wednesday, March 28, 2007

(517) 335-4590
(248) 945-7373

Investments in Venture Capital Firms Will Help MI Companies Grow

st Century Investment Fundto EDF Ventures and Venture Investors LLC. The two venture capital firms specialize in seed and early stage investments in life sciences and information technology companies. When considered with two commitments approved last month, the investments represent at least $35 million increase in venture capital available to Michigan entrepreneurs.

Up to $10 million was authorized for Madison, Wisconsin-based Venture Investors LLC, one of the premier providers of seed and early stage venture capital in Midwest life sciences, information technology and engineering companies. The firm will open an office in Ann Arbor.

Last month, the MSF Board approved the first investments through the 21st Century Investment Fund to venture capital firms Arboretum Ventures II and Nth Power.

Arboretum Ventures II, an Ann Arbor-based fund that invests in life sciences and medical equipment companies, will receive up to $7.5 million. San Francisco-based Nth Power will receive up to $10 million and will partner with NextEnergy to identify attractive early stage alternative energy opportunities located within Michigan. The firm invests in clean energy technology companies.

The 21stst

The $109 million 21stst Century Investment Fund. More information is available atwww.michigan21stcenturyinvestmentfund.com.

# # #