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Home > News > Michigan's VC dries up in 3Q

October 22nd, 2007

Michigan's VC dries up in 3Q

Abstract:
t was a lousy third quarter for Michigan companies hoping to find venture-capital funding.

Michigan had its second worst quarter for VC investment since 1995, with just two companies receiving a total of $4.4 million, according to the MoneyTree Report released Saturday by the Washington-based National Venture Capital Association and the national accounting firm of PricewaterhouseCoopers, based on data from Thompson Financial.

"Until now, nanotechnology has been a huge idea with lots of potential, but when you look at sales, it's still zero. But the current wave of companies working on real-world therapeutics and delivery systems seems to have real potential."

Source:
crainsdetroit.com

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