Hottub VC
Join free

Venture capital in Michigan

17 venture firms are based in Michigan, from SEC filings and the fund index. Below them are Michigan’s other sources of capital, the LPs based here that report holding venture funds, and its SEC-registered family offices. How Michigan ranks for startup raises and new funds: its Venture Ecosystem Index page.

On this page: 17 venture firms 80 other sources of capital 31 LPs 2 family offices.

Free weekly email for managers raising: new LP commitments, LPs adding venture funds, and programs taking submissions. Get it.

Venture firms based in Michigan

17 advisers that report a venture fund on Form ADV, largest estimated venture assets first, from the Venture Adviser Directory. Each one’s page has its funds and, where an LP reports holding them, its LPs.

#AdviserLocationVenture fundsPrivate fund assetsRegistered
1RPM Ventures III Management, L.L.C.Ann ArborMI11$920M2016
2Arboretum Ventures, LLCAnn ArborMI6$605M2023
3Ludlow Management Group, LLCOak ParkMI9$446M2023
4Fontinalis Partners, LLC EmergingDetroitMI3$247M2012
5Straylight Capital Management EmergingPlymouth Management CompanyAnn ArborMI5$234M2012
6Biostar Capital EmergingBiostar Managers, LLCCharlevoixMI10$226M2012
7Solyco Capital LLC EmergingRochesterMI42$215M2026
8Assembly Ventures Management, LLC EmergingDetroitMI5$154M2022
9Mudita Venture Partners LLC EmergingBingham FarmsMI4$138M2026
10Grand Ventures Management LLC EmergingGrand RapidsMI2$72M2025
11Hidden Capital Management, LLC EmergingBloomfield HillsMI1$67M2024
12Marram Ventures EmergingMarram Ventures LLCSaugatuckMI1$38M2026
13Thornapple River Capital EmergingThornapple River Capital LLCGrand RapidsMI2$79M≈$32M venture2020
14Charter Private Capital Management, LLC EmergingGrand RapidsMI3$134M≈$25M venture2025
15Fiduciary Financial Advisors EmergingGrand RapidsMI2$17M2021
16Assembly Ventures Select Management, LLC EmergingDetroitMI1$15M2026
17K2 Capital Adv, LLC EmergingDowagiacMI3$41M≈$14M venture2023

Other sources of capital in Michigan

19 union pension plans, 17 community development lenders, 15 pension master trusts, 15 SBA lenders, 9 corporate pension plans, 2 SBICs, 1 angel group, 1 placement agent, and 1 university venture fund. From public registers and what each organization publishes; see Capital Sources for every state.

SourceLocationOn the record
Michigan Capital NetworkAngel groupGrand RapidsMINetwork of angel groups and funds, including Grand Angels, connecting accredited investors with early-stage companies, most of them founded in the Midwest.
The Enterprise Securities CompanyPlacement agentFarmington HillsMI5 venture funds since 20215 since 2024 · median fund $2.2M
Michigan RiseUniversity venture fundEast LansingMIPre-seed fund run by a subsidiary of the Michigan State University Research Foundation; invests in early-stage Michigan technology companies.
Christian School Pension Plan and Trust FundCorporate pension planGrandvilleMIIn partnerships and joint ventures: $166MMultiple-employer defined-benefit pension plan of Christian Schools International, reporting $166.2M in partnership and joint venture interests at 2025-08-31.
Detroit Medical Center Consolidated Pension PlanCorporate pension planDetroitMIIn partnerships and joint ventures: $109MSingle-employer defined-benefit pension plan reporting $108.9M in partnership and joint venture interests at 2024-12-31.
Dow Employees' Pension PlanCorporate pension planMidlandMIIn partnerships and joint ventures: $3BSingle-employer defined-benefit pension plan of The Dow Chemical Company, reporting $2.98B in partnership and joint venture interests at 2024-12-31.
General Motors Hourly-Rate Employees Pension PlanCorporate pension planDetroitMIIn partnerships and joint ventures: $540MSingle-employer defined-benefit pension plan of General Motors LLC, reporting $540.3M in partnership and joint venture interests at 2025-09-30.
Haworth Pension PlanCorporate pension planHollandMIIn partnerships and joint ventures: $122MSingle-employer defined-benefit pension plan of Haworth International, Ltd., reporting $122.1M in partnership and joint venture interests at 2024-12-31.
Mea-Messa-Mea Financial Services Staff Retirement Plan & TrustCorporate pension planEast LansingMIIn partnerships and joint ventures: $64MSingle-employer defined-benefit pension plan of Michigan Education Association, reporting $63.6M in partnership and joint venture interests at 2025-08-31.
Union Carbide Employees' Pension PlanCorporate pension planMidlandMIIn partnerships and joint ventures: $358MSingle-employer defined-benefit pension plan reporting $357.9M in partnership and joint venture interests at 2024-12-31.
Visteon Pension PlanCorporate pension planVan Buren TownshipMIIn partnerships and joint ventures: $241MSingle-employer defined-benefit pension plan of Visteon Corporation, reporting $240.8M in partnership and joint venture interests at 2024-12-31.
WK Kellogg Co Bakery, Confectionery, Tobacco Workers and Grain Millers Pension PlanCorporate pension planBattle CreekMIIn partnerships and joint ventures: $64MSingle-employer defined-benefit pension plan of WK Kellogg Co, reporting $64.1M in partnership and joint venture interests at 2024-12-31.
Charter Growth Capital Fund II, L.P.SBICGrand RapidsMIHybrid · Mezzanine$61M fund · vintage 2024 · making new investments
MICHIGAN CAPITAL NETWORK VENTURE FUND V, LPSBICGrand RapidsMIVenture$75M fund · vintage 2025 · making new investments
Bricklayers' Pension Trust Fund-Metropolitan AreaUnion pension planTroyMIIn partnerships and joint ventures: $34MMultiemployer (union) defined-benefit pension plan reporting $33.6M in partnership and joint venture interests at 2025-04-30.
Carpenters' Pension Trust Fund - Detroit and VicinityUnion pension planTroyMIIn partnerships and joint ventures: $91MMultiemployer (union) defined-benefit pension plan reporting $90.9M in partnership and joint venture interests at 2025-04-30.
Heat and Frost Insulators Pension PlanUnion pension planTroyMIIn partnerships and joint ventures: $26MMultiemployer (union) defined-benefit pension plan reporting $25.6M in partnership and joint venture interests at 2024-12-31.
I.B.E.W. Local 769 Management Pension Plan aUnion pension planTroyMIIn partnerships and joint ventures: $60MMultiemployer (union) defined-benefit pension plan reporting $59.8M in partnership and joint venture interests at 2025-06-30.
Indiana State Council of Carpenters Pension FundUnion pension planTroyMIIn partnerships and joint ventures: $237MMultiemployer (union) defined-benefit pension plan reporting $237.4M in partnership and joint venture interests at 2025-03-31.
Indiana/Kentucky/Ohio Regional Council of Carpenters Pension FundUnion pension planTroyMIIn partnerships and joint ventures: $271MMultiemployer (union) defined-benefit pension plan reporting $271.4M in partnership and joint venture interests at 2025-06-30.
Iron Workers' Local No. 25 Pension FundUnion pension planTroyMIIn partnerships and joint ventures: $164MMultiemployer (union) defined-benefit pension plan reporting $163.7M in partnership and joint venture interests at 2025-04-30.
Laborers Pension Trust Fund - Detroit and VicinityUnion pension planTroyMIIn partnerships and joint ventures: $230MMultiemployer (union) defined-benefit pension plan reporting $230.2M in partnership and joint venture interests at 2025-04-30.
Michigan Carpenters' Pension FundUnion pension planLansingMIIn partnerships and joint ventures: $384MMultiemployer (union) defined-benefit pension plan reporting $383.5M in partnership and joint venture interests at 2025-08-31.
Michigan Electrical Employees' Pension PlanUnion pension planMadison HeightsMIIn partnerships and joint ventures: $73MMultiemployer (union) defined-benefit pension plan reporting $73.1M in partnership and joint venture interests at 2024-12-31.
Michigan Laborers' Pension PlanUnion pension planLansingMIIn partnerships and joint ventures: $412MMultiemployer (union) defined-benefit pension plan reporting $411.6M in partnership and joint venture interests at 2025-08-31.
Ohio Carpenters' Pension PlanUnion pension planTroyMIIn partnerships and joint ventures: $650MMultiemployer (union) defined-benefit pension plan reporting $650.3M in partnership and joint venture interests at 2025-04-30.
Operating Engineers' Local 324 Pension FundUnion pension planTroyMIIn partnerships and joint ventures: $466MMultiemployer (union) defined-benefit pension plan reporting $465.7M in partnership and joint venture interests at 2025-04-30.
Pipefitters Local 636 Defined Benefit Pension FundUnion pension planTroyMIIn partnerships and joint ventures: $151MMultiemployer (union) defined-benefit pension plan reporting $150.6M in partnership and joint venture interests at 2024-12-31.
Plumbers & Pipefitters Local Unions 502 & 633 PensUnion pension planTroyMIIn partnerships and joint ventures: $37MMultiemployer (union) defined-benefit pension plan reporting $37.4M in partnership and joint venture interests at 2025-07-31.
Plumbers Local No 98 Defined Benefit Pension FundUnion pension planTroyMIIn partnerships and joint ventures: $25MMultiemployer (union) defined-benefit pension plan reporting $25.3M in partnership and joint venture interests at 2024-12-31.
Roofers Local 149 Pension FundUnion pension planTroyMIIn partnerships and joint ventures: $46MMultiemployer (union) defined-benefit pension plan reporting $45.8M in partnership and joint venture interests at 2025-05-31.
SW OH Regional Council of Carpenters Pension PlanUnion pension planTroyMIIn partnerships and joint ventures: $41MMultiemployer (union) defined-benefit pension plan reporting $40.7M in partnership and joint venture interests at 2024-12-31.
West Mi Plumbers Fitters & Service Trades Local Union No 174 Pension PlanUnion pension planTroyMIIn partnerships and joint ventures: $36MMultiemployer (union) defined-benefit pension plan reporting $36.2M in partnership and joint venture interests at 2025-06-30.
Beaumont Health Master Retirement TrustPension master trustSouthfieldMIIn partnerships and joint ventures: $252MMaster trust investment account of Beaumont Health, reporting $251.6M in partnership and joint venture interests at 2024-12-31.
Blue Cross Blue Shield of Michigan Employees' Master Retirement TrustPension master trustDetroitMIIn partnerships and joint ventures: $217MMaster trust investment account reporting $217.3M in partnership and joint venture interests at 2024-12-31.
Dow Retirement Group Trust - Absolute ReturnPension master trustMidlandMIIn partnerships and joint ventures: $183MMaster trust investment account of The Dow Chemical Company, reporting $182.6M in partnership and joint venture interests at 2024-12-31.
Dow Retirement Group Trust - Opportunistic FiPension master trustMidlandMIIn partnerships and joint ventures: $1.2BMaster trust investment account of The Dow Chemical Company, reporting $1.24B in partnership and joint venture interests at 2024-12-31.
Dow Retirement Group Trust - Real Estate Core Oe FundsPension master trustMidlandMIIn partnerships and joint ventures: $461MMaster trust investment account of The Dow Chemical Company, reporting $461.0M in partnership and joint venture interests at 2024-12-31.
Dte Energy Company Affiliates Employee Benefit Plans Master TrustPension master trustDetroitMIIn partnerships and joint ventures: $1BMaster trust investment account of Dte Energy Corporate Services, LLC, reporting $1.05B in partnership and joint venture interests at 2024-12-31.
Dte Energy Company Master Veba TrustPension master trustDetroitMIIn partnerships and joint ventures: $382MMaster trust investment account of Dte Energy Corporate Services, LLC, reporting $382.4M in partnership and joint venture interests at 2024-12-31.
Fca US LLC Master Retirement Trust Balanced PoolPension master trustAuburn HillsMIIn partnerships and joint ventures: $5.6BMaster trust investment account of Fca US LLC, reporting $5.62B in partnership and joint venture interests at 2024-12-31.
Ford Motor Company Trust Fund Hedge FundsPension master trustDearbornMIIn partnerships and joint ventures: $1.9BMaster trust investment account of Ford Motor Company, reporting $1.94B in partnership and joint venture interests at 2024-12-31.
Ford Motor Company Trust Fund Private EquityPension master trustDearbornMIIn partnerships and joint ventures: $782MMaster trust investment account of Ford Motor Company, reporting $782.5M in partnership and joint venture interests at 2024-12-31.
Ford Motor Company Trust Fund Real EstatePension master trustDearbornMIIn partnerships and joint ventures: $1.2BMaster trust investment account of Ford Motor Company, reporting $1.24B in partnership and joint venture interests at 2024-12-31.
Lear Corporation Master TrustPension master trustSouthfieldMIIn partnerships and joint ventures: $42MMaster trust investment account of Lear Corporation, reporting $41.8M in partnership and joint venture interests at 2024-12-31.
Michigan Conference of Teamsters Welfare Fund Master TrustPension master trustDetroitMIIn partnerships and joint ventures: $32MMaster trust investment account of Trustees of Michigan Conference of Teamsters Welfare Fund, reporting $32.2M in partnership and joint venture interests at 2025-03-31.
Sparrow Health System Master TrustPension master trustLansingMIIn partnerships and joint ventures: $78MMaster trust investment account of Sparrow Health System Pension Master Trust, reporting $78.2M in partnership and joint venture interests at 2024-12-31.
UAW Master Pension TrustPension master trustDetroitMIIn partnerships and joint ventures: $169MMaster trust investment account of International Union, UAW, reporting $169.4M in partnership and joint venture interests at 2024-12-31.
Chi Ishobak, Inc.Community development lenderDowagiacMINative community development loan fund in Dowagiac, MI, certified by the US Treasury’s CDFI Fund.
CORE Community PartnersCommunity development lenderBingham FarmsMICommunity development loan fund in Bingham Farms, MI, certified by the US Treasury’s CDFI Fund.
Detroit Development FundCommunity development lenderDetroitMICommunity development loan fund in Detroit, MI, certified by the US Treasury’s CDFI Fund.
Grand Rapids Opportunities for WomenCommunity development lenderGrand RapidsMICommunity development loan fund in Grand Rapids, MI, certified by the US Treasury’s CDFI Fund.
Great Lakes Womens Business CouncilCommunity development lenderLivoniaMICommunity development loan fund in Livonia, MI, certified by the US Treasury’s CDFI Fund.
Invest Detroit FoundationCommunity development lenderDetroitMICommunity development loan fund in Detroit, MI, certified by the US Treasury’s CDFI Fund.
Lake Superior Community Development Corp.Community development lenderL'AnseMINative community development loan fund in L'Anse, MI, certified by the US Treasury’s CDFI Fund.
Magnet Lending CorporationCommunity development lenderLansingMICommunity development loan fund in Lansing, MI, certified by the US Treasury’s CDFI Fund.
Metro Community Development, Inc.Community development lenderFlintMICommunity development loan fund in Flint, MI, certified by the US Treasury’s CDFI Fund.
Michigan Women's Foundation, TheCommunity development lenderDetroitMICommunity development loan fund in Detroit, MI, certified by the US Treasury’s CDFI Fund.
Northern Great Lakes InitiativesCommunity development lenderMarquetteMICommunity development loan fund in Marquette, MI, certified by the US Treasury’s CDFI Fund.
Northern Shores Community Development, Inc.Community development lenderHarbor SpringsMINative community development loan fund in Harbor Springs, MI, certified by the US Treasury’s CDFI Fund.
Opportunity Resource FundCommunity development lenderLansingMICommunity development loan fund in Lansing, MI, certified by the US Treasury’s CDFI Fund.
Prosperus Detroit Micro LendingCommunity development lenderDetroitMICommunity development loan fund in Detroit, MI, certified by the US Treasury’s CDFI Fund.
Rende Progress CapitalCommunity development lenderEast LansingMICommunity development loan fund in East Lansing, MI, certified by the US Treasury’s CDFI Fund.
United Cerebral Palsy Association of Michigan, Inc., DBA Michigan Assistive Technology FundCommunity development lenderSouthfieldMICommunity development loan fund in Southfield, MI, certified by the US Treasury’s CDFI Fund.
Venture North Funding & DevelopmentCommunity development lenderTraverse CityMICommunity development loan fund in Traverse City, MI, certified by the US Treasury’s CDFI Fund.
4Front Credit UnionSBA lenderTraverse CityMI7(a) loans approved, fiscal year 2026: $5.2MSBA 7(a) lender in Traverse City, MI: 15 loans approved for $5.2 million in fiscal year 2026.
Bank MichiganSBA lenderBrooklynMI7(a) loans approved, fiscal year 2026: $11MSBA 7(a) lender in Brooklyn, MI: 10 loans approved for $11.3 million in fiscal year 2026.
Bank of Ann ArborSBA lenderAnn ArborMI7(a) loans approved, fiscal year 2026: $9MSBA 7(a) lender in Ann Arbor, MI: 5 loans approved for $9.0 million in fiscal year 2026.
Capitol National BankSBA lenderLansingMI7(a) loans approved, fiscal year 2026: $4.5MSBA 7(a) lender in Lansing, MI: 3 loans approved for $4.5 million in fiscal year 2026.
Chelsea State BankSBA lenderChelseaMI7(a) loans approved, fiscal year 2026: $11MSBA 7(a) lender in Chelsea, MI: 13 loans approved for $11.2 million in fiscal year 2026.
ChoiceOne BankSBA lenderSpartaMI7(a) loans approved, fiscal year 2026: $27MSBA 7(a) lender in Sparta, MI: 39 loans approved for $27.2 million in fiscal year 2026.
Community Choice CUSBA lenderFarmington HillsMI7(a) loans approved, fiscal year 2026: $22MSBA 7(a) lender in Farmington Hills, MI: 23 loans approved for $22.2 million in fiscal year 2026.
DFCU FinancialSBA lenderDearbornMI7(a) loans approved, fiscal year 2026: $17MSBA 7(a) lender in Dearborn, MI: 25 loans approved for $17.3 million in fiscal year 2026.
First State Bank of MichiganSBA lenderDecaturMI7(a) loans approved, fiscal year 2026: $5.8MSBA 7(a) lender in Decatur, MI: 2 loans approved for $5.8 million in fiscal year 2026.
Independent BankSBA lenderGrand RapidsMI7(a) loans approved, fiscal year 2026: $38MSBA 7(a) lender in Grand Rapids, MI: 40 loans approved for $38.2 million in fiscal year 2026.
LAF CUSBA lenderLansingMI7(a) loans approved, fiscal year 2026: $5.7MSBA 7(a) lender in Lansing, MI: 8 loans approved for $5.7 million in fiscal year 2026.
Lake Michigan CUSBA lenderGrand RapidsMI7(a) loans approved, fiscal year 2026: $35MSBA 7(a) lender in Grand Rapids, MI: 35 loans approved for $35.1 million in fiscal year 2026.
Oxford BankSBA lenderOxfordMI7(a) loans approved, fiscal year 2026: $13MSBA 7(a) lender in Oxford, MI: 28 loans approved for $12.9 million in fiscal year 2026.
United FCUSBA lenderSaint JosephMI7(a) loans approved, fiscal year 2026: $61MSBA 7(a) lender in Saint Joseph, MI: 51 loans approved for $61.2 million in fiscal year 2026.
University BankSBA lenderAnn ArborMI7(a) loans approved, fiscal year 2026: $11MSBA 7(a) lender in Ann Arbor, MI: 12 loans approved for $10.6 million in fiscal year 2026.

LPs based in Michigan

Foundations, pension plans, and other LPs here that report the venture funds they hold, by the number they hold. Local LPs often back local managers.

#LPLocationVenture fundsIn venture fundsTotal assets
1Dow Employees' Pension PlanCorporate pension plan · as of December 31, 2024MidlandMI34$289M$10.9B
2The Isabel FoundationPrivate foundation · as of June 30, 2025FlintMI91 new$3.8M$88M
3McGregor FundPrivate foundation · as of June 30, 2025DetroitMI8$27M$235M
4Hudson-Webber FoundationPrivate foundation · as of December 31, 2024DetroitMI72 new$9.8M$217M
5Steelcase FoundationPrivate foundation · as of December 31, 2024Grand RapidsMI6$14M$129M
6A Alfred Taubman FoundationPrivate foundation · as of December 31, 2024Bloomfield HillsMI6$6.8M$212M
7The Herbert H & Grace a Dow FoundationPrivate foundation · as of December 31, 2024MidlandMI5$9.1M$643M
8Ruth Mott FoundationPrivate foundation · as of December 31, 2024FlintMI51 new$7.6M$272M
9The Meijer FoundationPrivate foundation · as of December 31, 2024Grand RapidsMI5$1.5M$195M
10The Fred & Barbara Erb Family FoundationPrivate foundation · as of June 30, 2025Royal OakMI41 new$23M$377M
11The Meijer FoundationPrivate foundation · as of December 31, 2023Grand RapidsMI41 new$1.2M$173M
12The Skillman FoundationPrivate foundation · as of December 31, 2024DetroitMI3$2.3M$602M
13The Simpson FoundationPrivate foundation · as of December 31, 2024DetroitMI31 new$2.2M$37M
14Edwin J and Ruth M Shoemaker FoundationPrivate foundation · as of December 31, 2024DetroitMI3$880K$19M
15Max M & Marjorie S Fisher Foundation IncPrivate foundation · as of December 31, 2024SouthfieldMI21 new$1.1M$280M
16Leinweber FoundationPrivate foundation · as of December 31, 2024BirminghamMI2$1M$101M
17The Vattikuti FoundationPrivate foundation · as of December 31, 2024SouthfieldMI2$333K$44M
18Charles Stewart Harding FoundationPrivate foundation · as of June 30, 2025FlintMI2$284K$16M
19John E Fetzer Institute IncPrivate foundation · as of June 30, 2025KalamazooMI1$1.2M$830M
20Weiser Charitable FoundationPrivate foundation · as of September 30, 2024Ann ArborMI1$683K$17M
21Madeleine & Mandell L Berman FoundationPrivate foundation · as of December 31, 2024NoviMI1$567K$23M
22Wheeler Family Foundation IncPrivate foundation · as of June 30, 2025TroyMI1$92K$18M
23The Martin Family FoundationPrivate foundation · as of December 31, 2024Ann ArborMI1$62K$24M
24Herrick FoundationPrivate foundation · as of September 30, 2025Ann ArborMI1$46K$184M
25The Edward Lowe FoundationPrivate foundation · as of December 31, 2024CassopolisMI1$1K$131M
26The Lachimi FoundationPrivate foundation · as of December 31, 2024TroyMI1—$20M
27The Wadhams Family FoundationPrivate foundation · as of December 31, 2024Ann ArborMI1—$18M
28Ethel and James Flinn FoundationPrivate foundation · as of December 31, 2024DetroitMI0$3.8M$71M
29Take His Hand FoundationPrivate foundation · as of December 31, 2024Grand RapidsMI0$2.9M$15M
30David & Carol Myers FoundationPrivate foundation · as of December 31, 2024HollandMI0$909K$104M
31Scheb FoundationPrivate foundation · as of December 31, 2025AdaMI0$311K$10M

Family offices in Michigan

Family offices registered with the SEC as investment advisers, from the Family Office Index. Most family offices are exempt from registering and aren’t on this list.

Family officeCityRegulatory assets
Cambient Family Office, LLCAda$858M
Family Capital ManagementGrand Rapids$435M

About the data

An adviser’s state is where its Form ADV says its main office is. A fund-index firm is placed by the headquarters city the index lists, or by its Form ADV when the city doesn’t tell. Capital sources, LPs, and family offices are placed by the address their own register gives. Angel investors who list themselves are at hottub.vc/investors. Organizations only: no individuals are listed here, and a listing is a public record, not a recommendation. See the methodology.