Algal Scientific Completes $3 Million Raise for Biotechnology Commercialization

NORTHVILLE, MICHIGAN, April 28, 2014 – Algal Scientific Corporation, a biotech developer and manufacturer of algae-based chemicals and a supplier of related technologies for the food and beverage industries, today announced that it has completed a $3 million financing led by Evonik Ventures, Formation8 Partners, and Independence Equity. “The completion of this funding allows us to begin the commercial scale production and sale of Algamune™,... [Read More...]

Swift Biosciences Announces $7 Million Series B Financing

Funds Will Support Development of Next Generation Sequencing and Molecular Diagnostic Products Ann Arbor, MI – October 17, 2013 – Swift Biosciences, Inc., a Michigan-based life sciences company, today announced the recent completion of a $7 million Series B financing led by Fletcher Spaght Ventures.  Also joining in the B round of investment was Renaissance Venture Capital Fund and the Series A investors, including the Mercury Fund, Michigan... [Read More...]

$2 Million Michigan Angel Fund Begins Investing in Early Stage Companies

The Michigan Angel Fund (MAF), a professionally managed equity fund focused on capital efficient early stage companies located in Michigan, recently closed the fund to new investors. MAF is a $2 million fund that, with more than 70 members, is the largest angel organization in Michigan. MAF has already made its first investment, in East Lansing-based BioPhotonics Solutions, a Michigan State University spin-out venture, producing technology that automates... [Read More...]

Michigan Pre-Seed Capital Fund Invests $585,000 in Three Start-Ups

Three Michigan companies recently received investments from the Michigan Pre-Seed Capital Fund, totaling $585,000.  To date, the Michigan Pre-Seed Capital Fund, a collaborative effort of Michigan’s SmartZones, has awarded 63 Michigan companies with seed funding totaling more than $14 million. The Michigan Pre-Seed Capital Fund companies have attracted more than $18 million in matching grant and equity funds.  In 2011, the Michigan Pre-Seed Capital... [Read More...]

Ann Arbor SPARK Incubator Clients Awarded $650,000 Business Funding

The Ann Arbor SPARK Foundation recently presented the winners of the Accelerate Michigan Innovation Competition with their cash awards.  The competition’s grand prize of $500,000 in cash was awarded to DeNovo Sciences and the competition’s $150,000 prize was awarded to Fusion Coolant Systems. DeNovo Sciences accepts their award at the Michigan Life Sciences Innovation Center. “DeNovo Sciences and Fusion Coolant Systems highlight how having... [Read More...]

The Michigan Daily Covers Entrepreneurs and Incubators

Ann Arbor, Venture Capital is the headline of a great article written by Addie Shrodes of The Michigan Daily. The article covers entrepreneurialism in Ann Arbor and includes information about SPARK and the work we do assisting start-ups as well as on the student incubator, TechArb. Read the article.  Read More →

Entrepreneur awards and VC program features SPARK’s Amy Cell

From Crain’s Detroit Business Nov. 11, 2009; “The seven winners joined about 140 attendees this morning at a networking breakfast followed by peer-to-peer strategy sessions. Chris Rizik, president and CEO of the Renaissance Venture Capital Fund, presented a session on pitching to venture capitalists and angel investors with Amy Cell, vice president of Ann Arbor Spark. It’s important to understand the role of venture capital, Rizik... [Read More...]

VC Investing in Michigan Biotech more than doubled in 2006

Venture capitalists closed on 11 deals in Michigan last year totaling $135.5 million, with several bio-technology startup In case you missed it, below is a link to the mlive.com story dated Feb. 1 about the BioEnterprise report that said 8 deals in Ann Arbor/Detroit were done last year with a total investment exceeding $98mm, ranking 3rd among 17 Midwestern markets. From there you should be able to link back to the BioEnterprise site and read several... [Read More...]