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Venture Capital
innovationfund.eu

Investments

28

Portfolio Exits

6

About The Innovation Fund

The Innovation Fund invests in startups and companies active in the field of chemistry and life sciences.

Headquarters Location

Allee de la Recherche 12

Anderlecht, 1070,

Belgium

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Latest The Innovation Fund News

Michigan Governor proposes $60 million Innovation Fund

Feb 20, 2024

Like this story? Please share! Michigan Governor proposes $60 million Innovation Fund It would assist high-growth scalable start-ups and the innovation and entrepreneurship ecosystem. Among the items included in Michigan Governor Gretchen Whitmer‘s Fiscal Year 2025 Executive Budget  recommendations presented to a joint session of the House and Senate Appropriations committees was a new $60 million Innovation Fund. It is one item among  a number of priorities that seek to enhance Michigan’s economic competitiveness and build on the “ Make It in Michigan ” strategy — the Governor’s plan for investing in the state’s people, places, and projects. According to a report in the SSTI Weekly Digest , the strategy focuses on cultivating good-paying jobs, a skilled, talented workforce, and making Michigan an affordable, equitable, and vibrant place to live. The Innovation Fund would assist high-growth scalable start-ups and the innovation and entrepreneurship ecosystem. The fund would also provide universities and nonprofits funding to invest in tech start-ups, with all returns on investment being reinvested back into the program to support additional start-ups in the future. The efforts will diversify the state’s economy, as well as attract entrepreneurs to the state. Other items that the Governor included in her budget proposal include: $100 million for a Research and Development (R&D) Tax Credit, beginning on or after January 1, 2024, to spur innovation and attract more knowledge-based jobs to Michigan; and $25 million for the Make It in Michigan Competitiveness Fund to augment green economy initiatives and leverage available federal funding opportunities focused on energy, technology, and climate.

The Innovation Fund Investments

28 Investments

The Innovation Fund has made 28 investments. Their latest investment was in LiveDrop as part of their Seed VC on June 17, 2022.

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The Innovation Fund Investments Activity

investments chart

Date

Round

Company

Amount

New?

Co-Investors

Sources

6/17/2022

Seed VC

LiveDrop

$2.4M

Yes

Noshaq, Trasis, Undisclosed Angel Investors, and W.IN.G

1

6/17/2022

Seed VC

Aloxy

$3.98M

Yes

1

5/13/2022

Seed VC

Sense-In

$1.61M

Yes

1

5/12/2022

Series C

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$99M

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10

3/23/2022

Series A

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$99M

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10

Date

6/17/2022

6/17/2022

5/13/2022

5/12/2022

3/23/2022

Round

Seed VC

Seed VC

Seed VC

Series C

Series A

Company

LiveDrop

Aloxy

Sense-In

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Amount

$2.4M

$3.98M

$1.61M

$99M

$99M

New?

Yes

Yes

Yes

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Co-Investors

Noshaq, Trasis, Undisclosed Angel Investors, and W.IN.G

Sources

1

1

1

10

10

The Innovation Fund Portfolio Exits

6 Portfolio Exits

The Innovation Fund has 6 portfolio exits. Their latest portfolio exit was Univercells on June 29, 2023.

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

6/29/2023

Acquired

$99M

3

12/21/2021

Acquired

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$99M

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10

11/1/2021

Acquired

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$99M

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10

7/12/2021

Acquired

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$99M

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10

8/6/2019

Acquired

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$99M

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10

Date

6/29/2023

12/21/2021

11/1/2021

7/12/2021

8/6/2019

Exit

Acquired

Acquired

Acquired

Acquired

Acquired

Companies

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Valuation

$99M

$99M

$99M

$99M

$99M

Acquirer

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Sources

3

10

10

10

10

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