Investors: New venture capital fund will boost state entrepreneurs despite occasional disappointments

Michigan’s venture capital leaders said this afternoon that growing the pool of dollars available to startup companies would boost the economy in the long run, regardless of the sporadic instances in which a venture-backed company is sold and eventually leaves the state.

"We will not keep 100 percent of the companies that are created," said Tom Kinnear, chairman of the Venture Michigan Fund http://www.venturemichigan.com/ .

"We’re not going to keep them all. We’re going to keep enough to grow all sorts of seeds here, because if you follow the tree of who worked for whom, you can follow who was in these companies that were acquired. A lot of them stayed and started other companies."

By: Nathan Bomey

Full Story: http://www.annarbor.com/business-review/investors-new-venture-capital-fund-will-boost-michigan-entrepreneurs-despite-occasional-disappointme/