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Venture capital in Michigan has gained further momentum in 2010 with the addition of three new venture funds in the state, including the Michigan Accelerator Fund I in Grand Rapids. The gains can be attributed to efforts over the last several years to grow venture capital in Michigan, seed entrepreneurship and transition the state's auto-dependent economy.

The VC money is having an impact in the state, helping to unleash a lot of entrepreneurial activity from the community and university levels. 84% of the venture capital under management in the state is currently deployed, leaving 13% for follow-up investments and 3% for new deals. This doesn't mean that obtaining venture backing is easier then before, but it is more accessible. Venture firms remain highly discriminating about which companies they choose to back. However, with more capital available it is likely to draw more innovative companies to Michigan who are seeking VC investment.