Current Portfolio

FAQ

What is InvestMichigan!?

InvestMichigan! is an initiative that makes capital available to successful entrepreneurs who create jobs in Michigan. Its principal goals are to provide assistance to growing Michigan companies, attract world class investment in the outstanding companies already present in Michigan, and encourage investors to locate their portfolio companies in Michigan. Investments are made across a broad range of industry sectors and investment stages, ranging from early-stage venture through mature companies.

What requirements must be met by a company to receive an investment from the InvestMichigan! Program?

Companies receiving funds must:

  • Be domiciled in Michigan;
  • Have their corporate headquarters in Michigan;
  • Have a significant percentage of their employees based in Michigan, or
  • Be in the process of planning an expansion in and/or relocation to Michigan

What are the objectives of the InvestMichigan! Growth Capital Program?

  • Retain and attract emerging growth businesses to Michigan;
  • Nurture portfolio companies at each phase of development;
  • Enhance Michigan’s reputation for entrepreneurship;
  • Attract leading regional and national private equity and venture capital firms to the State, and
  • Further develop the State’s entrepreneurial ecosystem

Why is the InvestMichigan! Program split into two pools of capital?

The InvestMichigan! Program has been divided into two pools of capital in order to ensure that high quality companies at each phase of development have capital within Michigan to support their growth.

What is the target investment of each pool of capital?

  • Growth Capital Program: Targets lead and co-investment opportunities in venture stage companies, both early and later stage, and small buyout transactions in companies with growth characteristics across a range of sectors.
  • Buyout Program: Leads investments in buyout transactions of middle market companies with a strategy of encouraging out-of-state companies to expand in or relocate to Michigan.

Who are the InvestMichigan! Growth Capital Program Managers?

Beringea and Credit Suisse’s Customized Fund Investment Group co-manage the Growth Capital Program.

Do InvestMichigan! Growth Capital Managers have a presence in Michigan?

Yes. Beringea is headquartered in Farmington Hills and Credit Suisse has a regional office in Troy.

How much of the InvestMichigan! Growth Capital Program has been invested?

To date, approximately $46,250,000 of the Program’s money has been invested in portfolio companies throughout Michigan.

What is the Business Leadership Council?

The Business Leadership Council is a group of senior Michigan business leaders (“Council Members”) that will advise, nurture, and allow portfolio companies to leverage their business relationships. Additionally, Council Members may sit on the boards of portfolio companies and, in special cases, provide interim leadership for portfolio companies.

What are the roles and responsibilities of Council Members?

Council Members are expected to provide:

  • Advice — Council Members provide high-level strategic guidance on potential investment opportunities, sharing their global network and unique insight.
  • Nurturing and Mentorship — Council Members serve as a resource to young management teams as they develop and execute their strategy, providing portfolio companies with unparallel access to the extensive business experience of the Council Members. In special cass, Council Members may take management roles or sit on portfolio company boards where their experience would help to create value.
  • Business Relationships — Council Members provide portfolio companies with the opportunity to leverage their local and international business relationships. They may make introductions to key business partners and customers or share views with management teams on strategies to encourage business development.

Can a company receive funding from both the Growth Capital Program and the Buyout Program Initiatives?

The InvestMichigan! Buyout Program is available to Growth Capital Program portfolio companies whose subsequent growth and success necessitates further funding.

How do I submit a business plan?

Please send your business plan to deals@beringea.com. We review each submitted business plan and strive to provide feedback within a reasonable period of time.