Invest Detroit Ventures 2017 Year In Review


It’s been a tremendous year at Invest Detroit Ventures. In March 2017, we launched the First Capital Fund with support from MEDC, New Economy Initiative, and Invest Detroit Foundation. Since our launch of the fund in March 2017, we’ve received over 170 applications and approved investments in 15 companies. We added two companies to our Detroit Innovate portfolio, Change Dynamix and WorkIt Health, and completed follow-on investments in four companies.

In addition to our venture funding, we ended a successful programming year of Accelerate Michigan and Hacker Fellows, broadening our range of impact with early-stage companies and young developers.

Below you will find key points of interest that came out of 2017.

 

2017 Investments

 

$1.9mm

Capital Deployed

$17mm

Dollars Leveraged

3

Total Exits
 

New Ventures Funded

Ash & Erie is a specialty fashion brand designing and manufacturing casual, everyday clothing for men between the heights of 5’ & 5’8.”
Detroit | First Capital Fund

ChangeDynamix is a user and entity behavior/security analytics software that helps to elevate risk events of interest, analyzing the changing dynamics and entity behavior.
Royal Oak | Detroit Innovate

 

elevada is a SaaS-based data harmonization company – cleaning, combining and providing easy access to big data for data analytics.
Detroit | First Capital Fund

EVOQ is a cancer immunotherapy company that is developing a drug delivery system utilizing synthetic HDL particles, which when coupled with vaccines can deliver more effective cancer treatments to patients.
Ann Arbor | First Capital Fund

 

FoodStand is a tech-enabled behavioral health company that uses gamified, community-powered healthy eating challenges to teach customers the pillars of health without relying on diets or calorie counting.
Ann Arbor | First Capital Fund

Mi Padrino is a cloud-based crowdfunding platform that serves as a digital registry and promotional tool for milestone LatinX celebrations.
Ann Arbor | First Capital Fund

 

Micro-Lam is a Micro-laser assisted machining system helps in precision drilling, softening hard materials and reducing brittleness during machining.
Portage | First Capital Fund

My Swim Pro is a mobile fitness application that delivers personalized swim training and tracking to help athletes achieve their goals and help improve their training and fitness level through real-time biometric feedback. 
Detroit | First Capital Fund

 

PreDxion is a precision medicine diagnostics company that seeks to improve critical & emergency patient therapy selection through its MicroKine device.
Ann Arbor | First Capital Fund

Ripple Science is a cloud-based platform that coordinates and simplifies the participant recruitment and management process for clinical studies.
Ann Arbor | First Capital Fund

 

ShapeLog is a hardware & software fitness tracking company, whose first product is a patented solution for strength training equipment.
Ann Arbor | First Capital Fund

SpellBound is an augmented reality (AR) company that uses 3D technologies on mobile devices for therapeutic purposes in hospitals and care centers.
Ann Arbor | First Capital Fund

 

SteriDev is a medical device company that designs products that improve the use of mobile devices in surgical settings with their initial product being a disposable, sterile phone case.
East Lansing | First Capital Fund

SU2 Systems builds broker-neutral, multi-asset online trading platforms enabling trade execution, automation, as well as order and position management.
Lansing | First Capital Fund

 

The Student Loan Pro assists borrowers with student loans in assessing available options for optimizing their loan payments.
Pontiac | First Capital Fund

 

Follow On Investments

Celsee is a comprehensive single cell preparation, analysis and retrieval, transforming clinical and discovery oncology.
Plymouth | Detroit Innovate

HT Mobile Apps is an FinTech company, serving banks across the country. Its platform is designed to help banks easily and cost effectively roll out services to attract and retain customers.
Dexter | First Step Fund

 

Sportsman Tracker is a web and mobile platforms that provide digital tools for hunters and fishermen, through its primary brands HuntWise and FishWise.
Grand Rapids | Detroit Innovate

Workit Health is a provider of an online addiction recovery program designed to making addiction care better through technology, experience, and design.
Ann Arbor | Detroit Innovate


Impact Metrics

We collectively focus on implementing an investment strategy that is inclusive and supportive of minority, immigrant, and women entrepreneurs.

 

Diversity of Founders

 

56% of our 2017 new investments had diverse founding teams (founders
who identified as immigrant, minority or women).



Accelerate Michigan 2017 Recap

On November 16th we led our 8th annual Accelerate Michigan Innovation Competition (AMIC) which attracted 500 attendees to the historic Masonic Temple to listen to 63 companies pitch for $1M in cash and in-kind winnings. Orbion Space Technologies took home the grand prize with runner ups including MiPadrino, Alerje and Carma Car.

Thank you to our 2017 sponsors!

500

Attendees

100

Investor Judges & Mentors

33

Partners

67%

Diverse set of semi-finalists
 

Hacker Fellows 2017 Recap

2017 welcomed Hacker Fellows' third cohort to the program. The fifteen selected fellows received software development positions at eleven startups across the state of Michigan. Additionally, the Hacker Fellows program launched a student internship program, offering ten young developers hands-on experience within Michigan startups.  

15

Fellows Placed

22

Companies Impacted

10

Interns Placed

68%

Diverse set of fellows/interns