Extra Extra read all about it … VC deals in Michigan plummet 70%!

Yeah … thats what is being reported in the Freep. I haven’t looked at the latest moneytree numbers from PWC, but from what the author reports,

In Michigan, 10 venture capital deals occurred in the first quarter, the same number as in the year-ago period. However, the total dollars invested fell to $8.4 million from $28.2 million.

Yup. You got it. And more to the point, all of the “big winners” here … are already funded companies.

That is, new company formation, with a VC/Angel assist, is not happening at a pace worthy of mentioning. Specifically

As usual, California captured the most venture dollars in the first quarter. Michigan ranked 24th.

I think they call this … the long tail.

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