|
|
|
Angel Spotlight on Blue Water Angels
|
|
 A group of mid-Michigan investors has dedicated itself to supporting that region's entrepreneurs, and they're betting more education about the capital process will increase membership and generate real investment returns. Ken Kousky, Blue Water Angels (BWA) President and Executive Director, says his members are a diverse group of professionals with strong technology, materials science and manufacturing experience. But prospective angel investors aren't always savvy about deal specifics like term sheets or the best practices in due diligence, so BWA is putting a priority on educating members who support the idea of angel investing but want to get more comfortable with the mechanics.
As the newest addition to Michigan's early-stage investments marketplace, Blue Water Angels are the certainly one of the most active clubs. In addition to angel training, the club has also launched a regional campaign to help entrepreneurs and the numerous support organizations in the state that coach early stage companies. The Club prides itself in this aggressive outreach program with over 31 events scheduled for 2010. These include the Boost Mid-Michigan program, run in conjunction with GLEQ and JumpStart, as well as open Pitch Nights for members, other angels and economic development groups.
"We have specific sets of goals for 2010 which include expanding membership, launching a pledged pool fund and enhancing the quality of our deal flow through education. We're committed to educating not only our members but also regional entrepreneurs who may not be ready for angel or venture capital yet, but need to learn what it takes to get their businesses ready for that next step," Kousky said.
The group favors regional deals and prefers high-growth technology investments, but will consider deals outside both parameters. Now entering its third year, BWA has ramped efforts to enhance deal flow by establishing open relationships with other clubs and venture funds to syndicate larger deals.
"We've developed strong working relationships with the Mid-Michigan Innovation Center and the Great Lakes Entrepreneurial Quest through the Boost Mid-Michigan campaign. We sit on the investment review board for Oakland's incubator and we're in continuous contact with all the major universities. We're very collaborative and believe there can be good deal flow in a region that hasn't traditionally received much angel or venture attention," Kousky said.
Kousky hopes the group can fulfill lofty annual investment targets despite its location outside Michigan's traditional tech hotspots: "Michigan angel clubs are doing well if they participate in two deals a year. We're trying to originate two deals a year, plus join syndicates on another four or five deals a year. Partnering with other clubs and venture firms becomes an important part of our strategy."
Kousky cites angel and venture capital investors' mutual interest in improving the quality of deals and how the efforts of one group can help the other. "There's a classic conflict between early stage investors like angels and subsequent venture investors due to the need to negotiate down the earlier rounds' value. If the companies are doing well and the deals are sound, we all win. So it's in everyone's best interest that we add value to the companies we invest in. We call it 'capital with connections'-it's not just networking but developing early-stage sales strategies to get the product to market, providing technology solutions, and sourcing leadership. If we do our round right, there won't be a need for us to be squeezed in subsequent rounds."
For more information about Blue Water Angels and their activities, contact Ken Kousky at kkousky@ip3inc.com.
|
|
2010 Calendar of Events
|
|
|
VC Breakfast Roundtable: Celebrating HandyLab's Road to Success
Sponsored by Miller Canfield
Tuesday, February 9th
8-10:30am
Dahlmann Campus Inn
Terrace Room, 3rd Floor
MVCA Super HotShots
Tuesday, March 30th
5-7pm
Melange Restaurant
314 S. Main Street
Ann Arbor, MI
HotShots & VCs: Invite-Only
VC-Angel Afternoon Roundtable
Tuesday, April 20th
1-4:00pm
Cook-DeVos
Grand Rapids, MI
MVCA/MHIN Pre-MGCS Cocktail Reception
Monday, May 10th
5:30-8:30pm
Vinology
Ann Arbor, MI
29th Annual Michigan Growth Capital Symposium
Tuesday, May 11th & Wednesday, May 12th
Marriott @ Eagle Crest, Ypsilanti, MI
www.michigangcs.com
VC & Portfolio Company CFO Roundtable
June-Date & Time TBD
Venue TBD
Ann Arbor, MI
VC Roundtable & Golf Outing (Pre Lub Dub & Splash Conference - BioStar Ventures)
Thursday, July 8th
Time & Venue TBD
Lub Dub & Splash event - July 9th & 10th - more details to come...
VC Breakfast Roundtable
Tuesday, September 28th
8-10:30am
Venue TBD
Ann Arbor, MI
MVCA Super HotShots
Tuesday, October 12th
5-7pm
Melange Restaurant
314 S. Main Street
Ann Arbor, MI
HotShots & VCs: Invite-Only
MVCA Annual Awards Dinner
Monday, November 8th
5-8:30pm
Michigan Union Ballroom
Ann Arbor, MI
VC & Portfolio Company C-Level Executive Breakfast Roundtable
Thursday, December 2nd
7:30-10:30am
Location & Venue TBD |
|
|
|
|
Introducing SUPER HOTSHOTS
|
|
 MVCA Creates the "Super HotShots" Invite-Only Event
As you well know, there are many highly-talented individuals, both in Michigan and wanting to move back, who get passed along through the email introduction chain and various coffee meetings in hopes of landing roles within VC firms and/or start-up companies.
Therefore, the MVCA, with the help of Ann Arbor SPARK, will host an invite-only Super HotShots cocktail event two times per year in order to bring these individuals together on one night so they may meet 6-10 VCs in a fun and interesting format. Likewise, the VCs may gauge this high-level talent pool to fulfill needs in their own firms or in their portfolio companies.
The two events this year will be held at Melange Restaurant in downtown Ann Arbor on Tuesday, March 30th and Tuesday, October 12th from 5-7pm.
If you know of any individuals you'd like to invite, please pass their name and resume to LeAnn Auer at the MVCA (lauer[at]michiganvca.org). We hope these events lead to increased connections and create greater efficiency in the networking process.
|
MVCA Member Bulletins
|
|
|
Big Thank You to all those members that have paid their 2010 MVCA Dues.
 If you have yet to pay your 2010 Membership dues, please do so at your earliest convenience. Thanks! MVCA MEMBER DIRECTORY
In an effort to better
serve and connect you, the MVCA is creating a print membership directory to
complement our online tool.
Members will receive more information from Melanie once your 2010 dues have been paid. ANGEL FOCUS GROUP
Angel investing plays a critical role in Michigan's entrepreneurial infrastructure. During December of 2009, the MVCA brought together leaders from all of the Michigan angel networks within the state to discuss ways to strengthen our current angel environment. The group drew up an 2010 action plan to energize, engage, promote, and educate new and existing angel investors. More specific details of the plan will be included in our February newsletter.
SPONSORSHIP OPPORTUNITIES
The MVCA has unique sponsorship opportunities available for 2010. There are still sponsorship spots open for the 2009 Michigan Venture Capital Research Report. This is a widely circulated (locally and nationally) research publication. If your firm is interested in learning more about MVCA sponsorship opportunities, please contact us. CFO CONNECTIONSIn June, the MVCA will bring together the CFOs from our member venture firms and our Michigan-based portfolio companies for a special MVCA Roundtable event. The event will allow for special networking and learning opportunities on a variety of industry topics.
|
29th Annual Michigan Growth Capital Symposium
|
|
Thanks in part to your support and participation the Michigan Growth Capital Symposium will celebrate its 29th anniversary on May 11 & 12 at the Marriott Resort, Ypsilanti, Michigan. Please plan to join us for this premiere equity event, which showcases the Midwest's best new businesses and emerging technologies. MGCS 2010 will host over 400 attendees and feature: 2 Keynote Luminaries, 65+ Investment Firms, 32 Top Midwestern Companies Seeking Funding, 30 Renowned Panelists, 6 World Class Panel Discussions and 2 Days of High Level Networking. For symposium details, please visit: www.MichiganGCS.com
Register now! A special reduced academic/tech transfer rate of $295 and early-bird rate of $395 for non-academic members is now being offered. This is a substantial savings off the standard registration rate of $495.
Click here to register now!
Call for Presenting Company Applications - Early deadline, Feb. 25; Final deadline, Mar. 9.
The Michigan Growth Capital Symposium is now accepting Presenting Company applications. Please help spread the word and notify high quality companies, raising money in 2010, representing industries ranging from information technology, life sciences, and alternative energy. Companies considered for presenting should meet the following criteria: project $20M in revenue within five years, seek funding in the range of $1M to $20M, and preferably have a Midwest connection. Selected companies will receive a reduced registration rate of $295 which is a $200 savings off the standard registration rate.
Presenting Company Benefits:
· A four-page company executive summary will be included in the conference binder.
· Listing of company name and link on the 2010 MGCS web site.
· Investor pitch and presentation coaching.
· 15 minute presentation slot showcasing your business opportunity to an audience of venture capitalists and institutional investors.
· Table-top exhibit space.
· Allowance for extensive networking time in and near the exhibit area.
Please Submit Applications here.
The symposium is the 'core event' in the growth of the innovation-based entrepreneurial community in Michigan and the Midwest. By enriching our entrepreneurial environment, this productive interaction of communities, universities and investors has advanced the diversification of our economy. It is very important that we continue this effort in the years ahead. The symposium is hosted by the Zell Lurie Institute at the Ross School of Business at the University of Michigan in partnership with the Michigan Venture Capital Association.
For sponsorship information or questions regarding presenting company details, please contact Mary Nickson, the symposium manager, at 734-615-4424 or by email.
|
|
|
|
|
|
