Renaissance Venture Capital Fund Helps to Attract Nearly Half a Billion Dollars of New Investment into Michigan Companies
DETROIT, Mich., May 19, 2013 – The Renaissance Venture Capital Fund (RVCF), Michigan’s innovative venture capital fund-of-funds, today announced its initial investments have attracted total investments of nearly a half billion dollars in 23 young Michigan companies.
“For every dollar invested by RVCF, we’ve attracted $21 of new capital for Michigan companies,” said RVCF CEO Chris Rizik. “And even more important, we’ve helped create hundreds of high-wage Michigan jobs in the process.”
Rizik said that the average pay for the new jobs created in Michigan is $85,000.
“The combination of prudent, well researched investing and of connecting capital with opportunities has been the key to the success of the RVCF,” Rizik said. “We not only provide capital to increase entrepreneurial activity, we also connect young innovative start-ups with Michigan’s established companies that can become important customers or partners. We have a proven model for expanding innovation, growing jobs and earning solid returns for our investors.”