ANN ARBOR, Mich., April 13, 2018 /PRNewswire/ -- Renaissance Venture Capital Fund, Michigan's innovative venture capital fund-of-funds, today announced the Fund's economic and social impact on the state of Michigan. Highlighting these metrics is the Fund's successful attraction of more than $1.3 billion into Michigan's startup ecosystem.
Since Renaissance launched in 2008, it has invested in 30 venture capital funds around the United States, with the goal of attracting venture capital from those funds and their network into Michigan startup companies. This work 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.
