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annarbor.com

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Investments

34

Portfolio Exits

3

About Michigan Microloan Fund Program

Ann Arbor SPARK, a non-profit organization, is the driving force in establishing the Ann Arbor region as a destination for business expansion, retention, and location by identifying and meeting the needs of business at every stage, from startups to large organizations. Ann Arbor SPARK represents all communities in the Washtenaw County. Ann Arbor SPARK collaborates with business, academic, government, and community investor partners including the University of Michigan, Eastern Michigan University, Washtenaw Community College, Michigan Works!/ETCS, Washtenaw County, the City of Ann Arbor, the Bank of Ann Arbor and the Michigan Economic Development Corporation.

Michigan Microloan Fund Program Headquarter Location

301 East Liberty Street

Ann Arbor, Michigan, 48104-2283,

United States

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Latest Michigan Microloan Fund Program News

Four Startups Receive Michigan Microloan Fund Awards

Jan 16, 2013

Reprints The Michigan Microloan Fund Program announced last week that it has awarded a combined $156,000 in funding to four Michigan startups. The early-stage companies received the microloans to support their commercialization efforts. “The microloans are important because they give the companies an opportunity to grow and move into the entrepreneurial ecosystem,” says Joe Locavalli, who manages the microloan program for Ann Arbor SPARK . “The funds are provided by the 21st Century Jobs Fund ; being exposed to the Michigan Economic Development Corporation is a great advantage because it allows the companies to meet and greet other organizations.” The companies that received microloan support are: Crowdjuice : The Ann Arbor-based company has developed Web-based and mobile software that allows attendees of professional events to find each other and network online. Sentry Medical Technologies: Located in Ann Arbor, Sentry Medical Technologies is commercializing a device to monitor patient behavior and log the data collected. Supported Intelligence : This East Lansing-based startup has developed what it calls a Rapid Recursive Toolbox, which provides advanced analytics for investment modeling, valuation, financial modeling, risk assessment, and decision optimization. Zon Labs : Zon Labs, based in East Lansing, has created a multiplayer, online video game that helps people learn Chinese language and culture. The Michigan Microloan Fund Program is comprised of three distinct microloan funds: The Eastern Washtenaw Microloan Fund, the Michigan Pre-Seed Capital Fund, and the City of Ann Arbor through funding from the Ann Arbor/Ypsilanti Local LDFA. The Michigan Microloan Fund Program loans range from $10,000 to $50,000 and are awarded quarterly. To qualify, companies must be a small business, have ownership or license to innovative technology, and be privately held. To date, the Michigan Microloan Fund Program has loaned more than $3.2 million. Sarah Schmid is the editor of Xconomy Detroit/Ann Arbor. You can reach her at 313-570-9823 or sschmid@xconomy.com. Follow @XconomyDET_AA

Michigan Microloan Fund Program Investments

34 Investments

Michigan Microloan Fund Program has made 34 investments. Their latest investment was in Electric Field Solutions as part of their Debt on August 8, 2012.

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Michigan Microloan Fund Program Investments Activity

investments chart

Date

Round

Company

Amount

New?

Co-Investors

Sources

8/9/2012

Debt

Electric Field Solutions

$0.05M

Yes

8/9/2012

Debt

Rippid

$0.05M

Yes

8/9/2012

Debt

Phenometrics

$0.05M

Yes

4/11/2012

Debt

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$99M

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10

4/11/2012

Debt

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$99M

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10

Date

8/9/2012

8/9/2012

8/9/2012

4/11/2012

4/11/2012

Round

Debt

Debt

Debt

Debt

Debt

Company

Electric Field Solutions

Rippid

Phenometrics

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Amount

$0.05M

$0.05M

$0.05M

$99M

$99M

New?

Yes

Yes

Yes

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Co-Investors

Sources

10

10

Michigan Microloan Fund Program Portfolio Exits

3 Portfolio Exits

Michigan Microloan Fund Program has 3 portfolio exits. Their latest portfolio exit was Detroit Electric on November 16, 2021.

Date

Exit

Companies

Valuation
Valuations are submitted by companies, mined from state filings or news, provided by VentureSource, or based on a comparables valuation model.

Acquirer

Sources

11/16/2021

Corporate Majority

$991

1

00/00/0000

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10

00/00/0000

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10

Date

11/16/2021

00/00/0000

00/00/0000

Exit

Corporate Majority

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Companies

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Valuation

$991

Acquirer

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Sources

1

10

10

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