Venture capital investing in Michigan and Detroit had a strong 2014.
Almost $220 million was invested in 50 state companies. While the number of deals was down from 74 in 2013, the dollar value was up nearly 100 percent from $111.1 million.
The data in the MoneyTree Report is compiled by Thomson Reuters and released by the National Venture Capital Association and PricewaterhouseCoopers LLP.
It was the second-highest annual total for state investing since the pre-bust Internet frenzy of 2000 — and included the single largest VC round ever raised by a state firm, the $59.5 million raised by ProNAi Theraputics Inc., a company developing a drug to fight cancer. A total of $356.4 million was invested that year, with $245.7 million invested in 2012.
