Michigan venture capital investment value up nearly 100% from 2013

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In CRAINS DETROIT BUSINESS

Venture capital investing in Michigan and Detroit had a strong 2014.

Almost $220 million was invested in 50 state companies. While the number of deals was down from 74 in 2013, the dollar value was up nearly 100 percent from $111.1 million.

The data in the MoneyTree Report is compiled by Thomson Reuters and released by the National Venture Capital Association and PricewaterhouseCoopers LLP.

It was the second-highest annual total for state investing since the pre-bust Internet frenzy of 2000 — and included the single largest VC round ever raised by a state firm, the $59.5 million raised by ProNAi Theraputics Inc., a company developing a drug to fight cancer. A total of $356.4 million was invested that year, with $245.7 million invested in 2012.

For the full report please go to: http://bit.ly/1BuoGjI

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