InvestMichigan! Growth Capital Funds

Overview

InvestMichigan! Growth Capital Funds are private equity and venture capital funds investing in Michigan-based companies. The funds focus on companies with enterprise values of less than $200 million that are domiciled in Michigan, have their corporate headquarters in Michigan, have a significant percentage of their employees based in Michigan, or are planning an expansion in or relocation to Michigan. The funds are co-managed by Beringea, a Michigan-based venture capital firm, and GCM Grosvenor Private Markets. The funds invest between $2 million and $9 million in growth-oriented businesses across a broad range of sectors, including advanced materials and manufacturing, health care and life sciences (excluding pharmaceuticals), media and communications, specialized consumer goods, homeland security, information technology, and clean technology. The objective is to retain and attract growth businesses to Michigan, nurture portfolio companies at each phase of development, enhance Michigan’s reputation for entrepreneurship, attract leading regional and national private equity and venture capital investment funds to Michigan, and further develop Michigan’s entrepreneurial ecosystem. Portfolio companies that become part of the program and their management teams are supported by the Business Leadership Council, led by Chairman Peter Karmanos and comprised of Michigan business leaders who offer support, guidance, and access to business relationships. The Business Leadership Council includes executives from companies such as Blue Cross Blue Shield of Michigan, Detroit Economic Growth Corporation, Meijer, Inc., Neogen Corp, General Motors, Charter One Bank, PVS Chemicals, Detroit Economic Club, Quicken Loans, and the Michigan Department of Treasury.

Investment Focus

• Companies must be domiciled in Michigan, have their corporate headquarters in Michigan, have a significant percentage of their employees based in Michigan, or be in the process of planning an expansion in and/or relocation to Michigan.

Portfolio Companies