Ann Arbor's North Coast Tech Investors hits $100M in VC

Twenty years ago venture capitalist Hugo Braun left California and came back to Michigan, taking a job at Access Ventures. Ten years later he and another partner turned it into North Coast Technology Ventures with $10 million under its management. Today that number has reached $100 million and is still expanding.

The downtown Ann Arbor-based firm is getting ready to close on another investment vehicle (fund) this summer. It will be another large chunk of change that will allow North Coast Technology Ventures to make investments for at least the next few years.

"We feel this is an excellent time to make investments," Braun says. "Even though it's a depressing time there are a lot of excellent ideas out there."

North Coast Technology Ventures is made up of Braun, one other partner and one more employee. The company will also have interns during the summer months, occasional venture partners and entrepreneurs in residence. It also uses its offices to help incubate companies in which it has made investments. Most of those companies are local.

"The nearer they are to us the more attractive they are," Braun says. "Our investments are in the Midwest and most of them are in Michigan."

North Coast Technology Investors invests in a wide range of start-ups. They include the likes of software firm Arbortext and life sciences company Avidimer Therapeutics.

Source: Hugo Braun, principal of North Coast Technology Investors
Writer: Jon Zemke
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