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.

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. develops field-operable nanoparticle-based biosensors for the rapid diagnosis of infections disease agents. The company focuses on pathogen and toxin detection within the food safety and supply markets. Its handheld point-of-care biosensors are used in public health, homeland defense, food supply chain, and economic infrastructures. nanoRETE, Inc. was founded in 2011 and is based in Lansing, Michigan.

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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