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2013 May

20 May

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Michigan’s venture capital industry grew $700M in 2012

May 20, 2013 | By |

Michigan’s venture capital industry grew again in 2012 as both the amount of capital under management and what’s available for new investments posted strong gains.

The results contrast the general national trend for venture capital and indicate “that Michigan is a destination where entrepreneurs and those that back them are thriving,” states an annual research report issued today by the Michigan Venture Capital Association.

Read More on mibiz.com

15 May

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SideCar Hires eBay Exec Gregory Boutte And Hulu Exec Rob Wong As It Looks To Accelerate Growth

May 15, 2013 | By |

The San Francisco-based SideCar announced today it has hired two key tech executives to join the company and focus on product development and revenue generation: Gregory Boutte, most recently VP of eBay’s electronics and motors divisions, is joining SideCar as Chief Revenue Officer, and Robert Wong, most recently VP of product at Hulu, will serve as SideCar’s EVP of product.

In a post on SideCar’s company blog, CEO Sunil Paul said the two new execs “will help us build our brand visibility and prepare for global expansion.”

Read more on TechCrunch

01 May

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Covaron Advanced Materials lands $300K in seed capital

May 1, 2013 | By |

The winner of the student portion of the Accelerate Michigan Innovation Competition is now a venture-backed start-up, landing six figures in seed capital.

Covaron Advanced Materials (formerly Kymeira) scored $300,000 in a seed capital round, which was led by the Mercury Fund. The First Step FundHuron River Ventures and Two Seven Ventures are also participating in the round. The Ann Arbor-based firm is developing a new chemistry for ceramics, which brings the benefits of existing advanced ceramics to new parts and markets.

Read more on Concentrate