The Great Lakes region is typically categorized as a major hub for manufacturing and research/development.¬†And although this is the case, it lacks venture capital backing for early stage funding companies and has also been tremendously impacted by today’s economic issues as seen with the bankruptcy of some of the world’s largest automakers. Great¬†Lakes funding can aid the region in positive economic development, especially though advances and innovations by entrepreneurs and young companies.
The¬†region¬†is made up of Illinois, Michigan, Indiana, Kentucky,¬†Ohio, Minnesota, Pennsylvania, and Wisconsin.¬†Firms specializing in¬†Great Lakes financing normally provide investments ranging from $50,000 to $20 million or more depending on the stage of the¬†company.¬†Some of the emerging areas for Great Lakes capital include technology, life sciences, physical sciences, and clean technology.
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Draper Triangle Ventures is a network firm of Draper Fisher Jurvetson specializing in early and late stage funding in the midwest spanning diverse industries.¬† It provides funding¬†ranging from $250.000 to $2¬†million to high-potential businesses including Plan4Demand, iKnowthat.com, and Eidoserve.
Adams Street Partners, LLC¬†has more than $20 billion in assets worldwide including Australia, Europe, and Japan.¬† The firm provides private equity funding such as mezzanine, recapitalizations, and buyouts.
Plymouth Management Company is a multi-stage venture capital provider specializing in the Great Lakes region.¬† The company provides investments ranging from $750,000 to $2 million via a debt/equity model.¬† With a first fund of $25 million, Plymouth Management Company is investing its second fund and typically focuses on high-growth companies with active revenue and at least near-positive cash flow.
SunBridge Partners is a technology-focused venture capital firm with offices in the United States and Japan.¬† The firm usually focuses on backing emerging and innovative technology products in the early stages.
River Cities Capital Funds focuses on investing venture capital and growth equity in¬†companies within the Great Lakes region and the southeast.¬† Established in 1994, it currently has $400 million in assets under management across four funds and backs businesses in the IT, healthcare services and medical device private equity.
Arboretum Ventures is a venture capital firm in Michigan providing early stage financing to businesses in the healthcare arena in the midwest region and across the United States including those in medical devices, diagnostics, technology-based healthcare services, and life sciences tools.¬† To date, Arboretum Ventures manages $97 million in invested capital with¬†initial¬†funding amounts ranging from $1 million to $3 million.
OCA Ventures, LLC¬†supports companies from pre-revenue to $8 million in annual revenue through seed stage and growth equity.¬† It has backed more than 30 companies spanning three funds with initial investments of $6 million or less. OCA Ventures is a Great Lakes company with national reach.
ARCH Venture Partners currently has seven funds totaling $1.5 billion and supports companies within life sciences, IT, and physical sciences through seed and early stage funding.¬† The firm originated in the midwest region, but has expanded to provide backing to companies on a nationwide basis with offices in Illinois, Texas, Washington, and California.