Renaissance Venture Capital Fund Attracts $1.3 Billion
By creating innovative programs that connect Michigan startup companies to its venture capital network, including its annual “UnDemo Day,” Renaissance Venture Capital Fund has drawn $1.3 billion into Michigan’s startup ecosystem.
According to the firm, since its 2008 launch, it has invested in 30 U.S. venture capital funds with the goal of attracting venture capital from those funds and their networks into Michigan startup companies. This has resulted in more than $1.3 billion invested in 39 Michigan companies—returning more than $17 for every $1 invested by Renaissance. Those companies have expanded Michigan’s workforce with more than 1,300 employees with average salaries exceeding $75,000.