The Michigan Venture Capital Association has just announced a partnership with Fontinalis Partners to create a $104 million Fund 3 to invest in the next wave of mobility startups in the state of Michigan. This comes on the heels of multiple other news funds raised by venture capital firms around Michigan to continue the historic steep growth in investment in new tech companies around Michigan and the Midwest, which are now being hailed as some of the best cities in the nation for new startup growth and incubation.
It’s been a busier than usual year for startup funding around Michigan’s growing entrepreneurial ecosystems. While nearly half the VC-funded startups in the state are located in Ann Arbor, even as of 2017, Detroit boasted a 50% increase in the number of new startups based in the city and continues on a fast track as an emerging startup hub. Here are some headlines you may have missed as Ann Arbor and Detroit’s tech and startup scene continues to grow at a record-setting pace.
State of Detroit’s Entrepreneurial Community: $800 million, 333% Increase in Capital, Attracted by Tech Startups
Nonprofit research institution EntryPoint recently announced the release of its 2021 Detroit Entrepreneurial Ecosystem Report, which shows a 333% increase in capital attracted to the Detroit, Michigan, region, due to the growth of the local tech community.