Michigan Capital Network

What Michigan Capital Network does

Michigan Capital Network (MCN) is a Grand Rapids, Michigan-based venture capital fund manager and non-profit angel investing trade association that connects accredited investors with early-stage companies across Michigan and the broader Midwest. The organization operates as an umbrella for five regional angel groups — Grand Angels (Grand Rapids, founded 2004), Ka-Zoo Angels (Kalamazoo), Woodward Angels (Detroit), Flint Angels, and BlueWater Angels (Great Lakes Bay / mid-Michigan) — and most recently added Capital Community Angels (Lansing) in February 2026. MCN also manages multiple venture capital funds (currently Fund V, with a $10M Opportunity Fund for follow-ons) that invest in life sciences, advanced manufacturing, advanced agriculture, software/IT, and increasingly defense and critical technologies. Across its funds and angel groups, MCN reports $250M+ in management, 100+ portfolio companies funded, and 200+ individual investor-members.

MCN's core "products" are its managed venture capital funds and the statewide angel association; there is no proprietary technology platform, and revenue is generated through traditional fund economics — management fees on committed/invested capital and carried interest on successful exits — alongside back-office and deal-flow services supplied to member angel investors. Go-to-market is community-led: regional groups meet monthly to vet deals, annual events (Fall Fund Update, Spring Event) convene the broader network, and the firm maintains relationships with regional economic-development organizations (Ann Arbor SPARK, Michigan EDC, CMURC) and federal programs such as the joint DoD/SBA Small Business Investment Company Critical Technologies Initiative, in which MCN was selected as one of 18 participants in 2025. Fund IV closed oversubscribed at $37.5 million from more than 90 LPs in 2023, and minimum LP commitments are $250,000 for fund vehicles and $500,000 for the Opportunity Fund.

The firm is led by CEO and Managing Director Paul D'Amato, Managing Partners Dale Grogan and Jody Vanderwel, and Partner Meagan Malm (promoted March 2026), with Emily Sarata serving as President of the MCN Angel Association. MCN operates from a Grand Rapids headquarters at 37 Ottawa Ave NW and a secondary Ann Arbor office opened in April 2023. Notable portfolio outcomes include a 5x Series A return and 13x debt-investor return on Tetra Therapeutics, a $19M Series A into Tacit Therapeutics, the July 2025 IPO filing of Ambiq Micro, and claimed creation of more than 2,000 high-paying tech industry jobs in Michigan.

Name

Michigan Capital Network

Legal name

Michigan Capital Network

Website

https://michigancapitalnetwork.com

Company type

Private

Founded year

2021

Operating status

Operating

Headcount range

1–10 employees

Short description

Michigan Capital Network is a Grand Rapids-based venture capital fund manager and non-profit angel investing trade association that connects 200+ accredited investors with early-stage Michigan and Midwest startups via five regional angel groups and multiple VC funds totaling $250M+ under management.

Ownership category

akta.pro rank

Product category

Venture Capital and Angel Investing

NAICS

Other Investment Pools and Funds (5259), Portfolio Management and Investment Advice (523940)

SIC

Investment Advice (6282)

akta.pro primary industry

Early-Stage Venture Capital (Series A/B) (FSANAAAB)

akta.pro secondary industry

Micro-VC & Angel Funds (FSANAAAI)

Keywords

• Venture capital
• Angel investing
• Early-stage funding
• Seed capital
• Startup investment

Headquarters

HQ city

Grand Rapids

HQ country

United States

HQ region

North America

Offices2 records

Markets served

GTM type

B2B

Offering type

Services

Cost components

Personnel, Operations, Marketing or Sales, Technology or R&D, Infrastructure

Revenue model

1. Venture Capital Fund Management: MCN manages multiple venture capital funds (currently on Fund V) and earns management fees and carried interest on successful exits. They raised Fund IV targeting $25M (expanded to $35M), and Fund V is the latest vehicle. They also formed a $10M Opportunity Fund for follow-on investments in portfolio companies.
2. Angel Investing Association: MCN serves as a nonprofit trade association for regional angel investing groups, providing back-office support, deal flow, and networking services to individual angel investors across Michigan.

Pricing tiers

Go-to-market motion2 records

Distribution channels2 records

Marketing channels4 records

Core offering

Michigan Capital Network manages multiple venture capital funds (currently Fund V) and a $10 million Opportunity Fund that invest in early-stage companies in life sciences, advanced manufacturing, advanced agriculture, and software/IT across Michigan and the Midwest. It also operates a nonprofit angel investing trade association connecting five regional angel groups (Grand Angels, Ka-Zoo Angels, Woodward Angels, Flint Angels, BlueWater Angels) with 200+ accredited investor-members, providing curated deal flow, due diligence, and portfolio monitoring services.

Product overview

Michigan Capital Network is a venture capital fund management firm and angel investing trade association operating as a single unified platform that combines VC fund management with a statewide network of regional angel groups. MCN manages multiple venture capital funds (currently Fund V) alongside five regional angel investing groups (Grand Angels, Ka-Zoo Angels, Woodward Angels, Flint Angels, and Bluewater Angels), collectively managing over $250M across 5 funds and connecting accredited investors with high-potential early-stage Michigan companies in life sciences, advanced manufacturing, advanced agriculture, and software/IT sectors.

Differentiator

Problem solved

Functional benefit

Products and services

• Michigan Capital Network Venture Funds (Funds I–V)

Quantifiable outcome

• Created more than 2,000 high-paying tech industry jobs in Michigan
• +2 more outcomes

Named customers4 records

Segments2 records

Ideal customer profiles2 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Partnerships

Three partnerships are on record, tiered minor and core.

• Capital Community AngelsminorChannel Partner/ Reseller/ Distributor · 1 February 2026Capital Community Angels, a Lansing-area angel investor group, joined MCN's statewide association, adding approximately 20 new angel investors and providing MCN with a foothold in the central Lower Peninsula of Michigan.
• National Advanced Mobility ConsortiumcoreStrategic or Co-development Partner · 1 August 2025MCN was selected as one of 18 participants in a joint Department of Defense and U.S. Small Business Administration initiative to support and invest in emerging critical technologies for use in defense and by the private sector. This federal designation positions the firm within a national network focused on advancing critical technology development.
• Central Michigan University Research Corporation (CMURC)coreStrategic or Co-development Partner · 1 March 2022MCN and BlueWater Angels joined forces with CMURC to strengthen the entrepreneurial ecosystem in the Great Lakes Bay Region. The partnership helps more businesses connect with prospective investors through pitch nights and meet-and-greet events throughout the region.

Scale indicators11 records

Recent moves10 records

Expansion highlights6 records

Regional players

• Invest Detroit: Detroit-based community development venture investor supporting Southeast Michigan startups; comparable regional VC/community capital model though focused on Detroit proper.
• Detroit Venture Partners: Detroit-based early-stage VC firm investing in Michigan and Midwest startups; comparable geographic focus and stage, though narrower (single firm vs. MCN's umbrella of 5 angel groups and 5 VC funds).
• Great Lakes Capital Fund: Midwest-focused investment fund supporting Michigan-based small businesses through SBA programs; comparable regional deployment mission but heavier SMB lending orientation vs. MCN's venture focus.

Emerging players

• Ann Arbor SPARK: Michigan economic development organization driving startup and venture growth in the Ann Arbor region; complements MCN's Ann Arbor office and shares overlapping regional ecosystem-building mission.

Direct peers

• Michigan Rise: Michigan-based pre-seed and seed venture fund supporting high-tech startups statewide; operates a similar statewide fund + ecosystem model to MCN's VC fund and angel network structure.
• Charter Capital Partners: Grand Rapids-based VC firm where Managing Partner Dale Grogan previously ran Michigan Accelerator Fund I; directly comparable as a West Michigan VC manager investing at similar stages and sectors.
• Invest Michigan!: Michigan-focused early-stage and growth investor supporting Michigan-based entrepreneurs; directly comparable to MCN's mission of deploying capital into Michigan startups and serving as a regional VC/PE platform.
• Belle Michigan Fund: Michigan-focused early-stage venture fund; directly comparable as a state-targeted early-stage investor with similar sector focus and check sizes.

Others

• Angel Capital Association: National trade association for angel investor groups; comparable as an umbrella/trade body for angel groups, similar to how MCN serves as a Michigan-level angel trade association.
• Michigan Angel Community: Michigan-based ecosystem organization that aggregates and supports angel investing activity across the state; adjacent/ecosystem comparable rather than a direct capital competitor.

Market position

Strengths5 records

Weaknesses4 records

Competitive moat4 records

Key risks5 records

Key highlights6 records

Customer concentration

• LinkedInlinkedin.com/company/michigan-capital-network
• Xx.com/micapnetwork

Revenue estimate

Valuation estimate

Number of profiles

Profiles21 records

Subsidiaries5 records

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments14 records

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Michigan Capital Network