At its recent Michigan Celebrates Angels event, the Michigan Angel
Community released its 2018 annual research report. The study aimed to
capture data on meaningful metrics by surveying angel groups, individual
angels, as well as angel-funded companies.
Key findings include:
- There were 859 angels that invested in Michigan companies in 2018.
- Angels invested $52 million in Michigan companies.
- Eighty-four companies received angel funding.
Of the companies that received angel funding, 15 were women-owned and
13 were minority-owned.
The companies that received angel funding employed more than 640
“While the majority of companies that received angel funding were
located in Ann Arbor, companies were located across the state, proving
that angels are excited about the startups forming in Michigan,
generally. This tells people looking to establish a new business that
there’s support and resources to do it successfully here,” said Skip
Simms, managing director of the Michigan Angel Community. “Angels
provide the early stage capital entrepreneurs need to turn their
fledgling businesses in to the companies that create the jobs and
attract the investment that keep our economy growing.”
Information technology (IT) companies received the majority of angel
funding in 2018, with software outperforming hardware. Life sciences
companies received the second most funding, with diagnostics
outperforming medical devices and other ventures. In total, 43 IT
companies received funding, and 93 percent of those were in software.
Of note, life science surpasses IT in angel dollars invested, attracting
$23.1 million compared to IT’s $20.6 million. Life science also
surpasses IT in total investment raised in 2018, attracting $180 million
compares to $38.7 million.
To view the full report, visit the Michigan Angel Community website: http://bit.ly/MichiganAngels2018
The Michigan Angel Community is an initiative to accelerate the growth
of angel activity in Michigan as well as investment into Michigan
companies. The Michigan Angel Community educate and expands the base of
angel investors in Michigan, holds statewide events and programs, and
fosters greater collaboration, affiliation, and social engagement among
angels. Its research report is designed to help guide and promote the
growth of the market with policymakers, potential angels, and
The Michigan Angel Community is supported by the Ralph C. Wilson
About Ann Arbor SPARK
Ann Arbor SPARK, a non-profit organization, is advancing the region by
encouraging and supporting business acceleration, attraction and
retention. The organization identifies and meets the needs of business
at every stage, from start-ups to large organizations. Ann Arbor SPARK
collaborates with business, academic, government, and community investor
partners. For more information, please call (734) 761-9317 or visit www.AnnArborUSA.org.