Firms invest $118.8 million in 18 deals
Venture capital investment was up sharply in the third quarter in Michigan, according to a report issued Thursday by the Washington, D.C.-based National Venture Capital Association and PitchBook, a VC database.
There was $118.8 million invested in 18 deals in the state in the quarter, up from $58 million in the second quarter and $48.8 million in the first quarter.
It was the best quarter since $160 million was invested in the fourth quarter last year and the second-best quarter since $166.4 million was invested in the second quarter of 2014.
The state ranked 17th nationally.