Michigan Accelerator Fund 1

Michigan Accelerator Fund I is a venture capital investment partnership based in Grand Rapids, Michigan, with a fund size of $15.1 million. Established in 2010, the fund includes $6 million from the State of Michigan and over $9 million from various individual and institutional investors. Its primary focus is on early-stage companies located within Michigan, particularly in the life sciences technology sector, while also targeting advanced manufacturing, homeland security, alternative energy technology, information technology, and agriculture. The fund aims to achieve long-term capital appreciation for its investors while contributing to the economic growth of Michigan.

Dale Grogan

Managing Director

8 past transactions

Ablative Solutions

Series D in 2019
Ablative Solutions, Inc. is a clinical-stage medical device company focused on developing innovative treatments for hypertension. Incorporated in 2011 and headquartered in San Jose, California, with an additional office in Kalamazoo, Michigan, the company manufactures the Peregrine System, an endovascular catheter designed for the minimally invasive delivery of diagnostic and therapeutic agents into the perivascular space surrounding peripheral blood vessels. This technology provides a safe and effective alternative to traditional surgical renal denervation, aiming to reduce blood pressure in patients with hypertension that is not well controlled. By using alcohol as a neurolytic agent, Ablative Solutions' infusion catheter may offer significant advantages over energy-based systems, making it a promising option for managing hypertension and related conditions caused by an overactive sympathetic nervous system.

Vestaron

Series D in 2016
Vestaron Corporation specializes in the development, manufacture, and sale of peptide-based biologic crop protection products. Founded in 2005 and headquartered in Durham, North Carolina, with a research and development center in Kalamazoo, Michigan, Vestaron offers a range of bioinsecticides including Spear-T, Spear-Lep, and Leprotec, which target various pests in vegetables, fruits, and field crops. The company aims to enhance crop safety, efficacy, and sustainability by providing biopesticides that address resistance issues while ensuring safety for workers and the environment. Vestaron has received notable accolades for its innovative solutions, including the Bernard Blum Award and the Green Chemistry Challenge Award, recognizing its commitment to environmental stewardship and effective crop protection.

Swift Biosciences

Series C in 2016
Swift Biosciences Inc. is a biotechnology company based in Ann Arbor, Michigan, specializing in the development and commercialization of next-generation sequencing (NGS) library preparation kits for genomics and clinical research. The company offers a comprehensive range of products, including RNA library kits, amplicon panels, hybridization capture kits, and specialized kits for cancer gene profiling and COVID-19 testing. Swift Biosciences aims to streamline NGS sample preparation processes through innovative reagents and protocols, enhancing the usability of data obtained from sequencing instruments. Its offerings cater to various applications such as whole-genome sequencing, metagenomics, and the analysis of circulating tumor cells. The company operates through a network of distributors across the Asia Pacific, Europe, the Middle East, and South America, and was incorporated in 2009.

eAgile

Venture Round in 2016
eAgile Inc. is a manufacturer of Internet of Things (IoT) and radio frequency identification (RFID) products, specializing in the design, production, and distribution of customized RFID solutions. Founded in 2004 and based in Grand Rapids, Michigan, with an additional office in Schaffhausen, Switzerland, eAgile offers a diverse range of RFID tags and labels, hardware such as handheld and fixed readers, antennas, printers, and software. The company's products are utilized in various applications, including security printing, brand protection, mobile e-commerce, and smart packaging. eAgile operates from a 40,000 square foot, ISO-certified facility that includes testing and demonstration centers, enabling continual innovation and expansion to meet client needs. Through its advanced RFID technology, eAgile helps clients address challenges related to product diversion, counterfeiting, and tampering.

nanoRETE

Pre Seed Round in 2015
nanoRETE, Inc. is a biotechnology company that specializes in developing field-operable nanoparticle-based biosensors aimed at the rapid detection of infectious diseases, particularly tuberculosis. Founded in 2011 and based in Michigan, the company focuses on creating next-generation diagnostic tools that enhance the screening process for tuberculosis and other pathogens. Its biosensors are designed for use in various sectors, including public health, food safety, and homeland defense, providing real-time detection of pathogens and toxins. By offering a handheld point-of-care solution, nanoRETE aims to improve the efficiency and effectiveness of disease diagnosis and control, thereby contributing to public health and safety.

Vestaron

Series C in 2014
Vestaron Corporation specializes in the development, manufacture, and sale of peptide-based biologic crop protection products. Founded in 2005 and headquartered in Durham, North Carolina, with a research and development center in Kalamazoo, Michigan, Vestaron offers a range of bioinsecticides including Spear-T, Spear-Lep, and Leprotec, which target various pests in vegetables, fruits, and field crops. The company aims to enhance crop safety, efficacy, and sustainability by providing biopesticides that address resistance issues while ensuring safety for workers and the environment. Vestaron has received notable accolades for its innovative solutions, including the Bernard Blum Award and the Green Chemistry Challenge Award, recognizing its commitment to environmental stewardship and effective crop protection.

Vestaron

Series C in 2014
Vestaron Corporation specializes in the development, manufacture, and sale of peptide-based biologic crop protection products. Founded in 2005 and headquartered in Durham, North Carolina, with a research and development center in Kalamazoo, Michigan, Vestaron offers a range of bioinsecticides including Spear-T, Spear-Lep, and Leprotec, which target various pests in vegetables, fruits, and field crops. The company aims to enhance crop safety, efficacy, and sustainability by providing biopesticides that address resistance issues while ensuring safety for workers and the environment. Vestaron has received notable accolades for its innovative solutions, including the Bernard Blum Award and the Green Chemistry Challenge Award, recognizing its commitment to environmental stewardship and effective crop protection.

Ablative Solutions

Series B in 2014
Ablative Solutions, Inc. is a clinical-stage medical device company focused on developing innovative treatments for hypertension. Incorporated in 2011 and headquartered in San Jose, California, with an additional office in Kalamazoo, Michigan, the company manufactures the Peregrine System, an endovascular catheter designed for the minimally invasive delivery of diagnostic and therapeutic agents into the perivascular space surrounding peripheral blood vessels. This technology provides a safe and effective alternative to traditional surgical renal denervation, aiming to reduce blood pressure in patients with hypertension that is not well controlled. By using alcohol as a neurolytic agent, Ablative Solutions' infusion catheter may offer significant advantages over energy-based systems, making it a promising option for managing hypertension and related conditions caused by an overactive sympathetic nervous system.
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