Northern Michigan Angels

Portfolio

Companies receiving investment by NMA members:

 

Annual Report 2016

During its fifth year of operation, Northern Michigan Angels successfully accomplished the following:

  • Successful company exit from Gemphire Therapeutics (novel drug to treat patients with cardiovascular disease) through IPO launch in August at $10.00 per share. First round investment was March 2015 and subsequent round in December 2015. Investors are required by the SEC to hold the investment for six months as “insiders” so the investment returns will be determined at this liquidity date.

  • Successful company exit from RetroSense Therapeutics (trial drug development to treat blindness) through an acquisition by Allergen in August. Initial investment was March 2014. Total upfront payments were $60mil which represents 3X return. Potential earn out payments over the next 15 years could be up to $495mil. Being touted as one of the best exits in Michigan Accelerator Fund history.

  • Raised over $2.3 million since inception (1/1/2012) through October 2016 in 22 companies

  • Northern Michigan Angels is leading capital raises currently for the following companies.
    • Vector Center, round remains open with due diligence nearing completion (Seed Round)
    • NewTree Fruit Company, due diligence underway (Seed Round)

  • Participated along with Blue Water Angels, WakeStream, Michigan Angels and Grand Angels, in capital funding for the following Michigan based companies.
    • HistoSonics-Medical device using ultrasound technology (Round Open Currently)
    • Native Traits, Developer of native genetic traits for corn (Follow on round)
    • Food Junky, on-line food ordering website for local restaurants (Follow on)
    • Genomenon- Technology to improve search of existing genome data (Seed)
    • AMF Nano– Develop sensors that pierce through metal (Seed)
    • ECO Fueling – Ethenal injection system for large trucks (Seed)

  • XG Sciences- Advanced manufacturing using graphene platelets (Follow on)

  • Organized and hosted 8 pitch events in Traverse City featuring 13 aspiring entrepreneur companies based in Michigan with 3 from Northern Michigan.

  • Ten new members (new record) joined NMA during the year bringing the total to 30.

  • Hosted educational workshop with several presenters covering topics ranging from portfolio management best practices, investment criteria and deal lead responsibilities.