Chris speaks with Maureen Miller Brosnan, of the Michigan Venture Capital Association, about stretching venture capital endeavors outside of Michigan, while she’s on an outreach tour that is designed to bring investment dollars back into the state of Michigan.
This interview finds Maureen in Cincinnati, which also gives Chris a chance to speak with Daniel Fleming, the managing director of River City Capitol Fund. The company has been around for a little over 20 years, and is currently working on a fifth fund worth over $200 million. They focus on health care investments, medical devices, medical technologies, medical IT and software investments – B2B solutions. They look to entrepreneurs all over the United States, but especially in the Midwest. For every dollar that Michigan invests in start-ups, $2.90 reportedly is coming into the state by other investors.
Michigan is a great collaborative state for companies that want to come into the state. The opportunity grows out of the “deal flow” – the number of ideas that are flowing out of Michigan. Health and life science is the biggest area of start-up investments, but the technology industry is the fasted growing within the state.
Chris also mentions the possibility of collaboration by the company and association with the Michigan Israeli Business Bridge, of Bloomfield Hills, Michigan.
