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Beringea to co-lead $180M Michigan Growth Capital Partners fund

Farmington Hills-based Beringea and Credit Suisse will co-manage the newly launched Michigan Growth Capital Partners II, a venture capital fund focused on investing in promising new economy firms based in Michigan.

The $180 million fund will be deployed over the next 4-5 years, investing in companies in the following sectors: advanced materials and manufacturing, health care and life sciences, media and communications, specialized consumer goods, homeland security, IT and clean technology.

"We have always been a bit ahead on clean tech," says Charlie Rothstein, founder & senior managing director of Farmington Hills-based Beringea.

The Michigan Growth Capital Partners II fund, which was capitalized by the Michigan Strategic Fund, follows the original Michigan Growth Capital Partners fund launched in 2008. That fund made 28 investments, including some sizeable investments in a number of locally based companies, such as Livio Radio and ReCellullar. Its biggest exit has been from Accuri Cytometers, an Ann Arbor-based start-up that was recently acquired for nearly $300 million.

Source: Charlie Rothstein, founder & senior managing director of Farmington Hills-based Beringea
Writer: Jon Zemke
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  • Beringea
    32330 W. 12 Mile Road
    Farmington Hills, MI 48334 Website
    Beringea is an international venture capital and investment banking firm dedicated to finding, funding and nurturing exceptional companies in growth industries. Founded in 1988, the firm currently has more than 60 portfolio companies in a range of ...