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Invest Michigan
Charlie Moret runs Invest Michigan, a state-backed venture program deploying Michigan Strategic Fund capital into seed-stage university spinouts.
Invest Michigan
Invest Michigan launched in 2010 as a public-private partnership, with founding President and CEO Charlie Moret steering the organization's mission to commercialize technology developed at Michigan universities and grow the state's startup ecosystem. The firm operates under the umbrella of the Michigan Economic Development Corporation (MEDC), with its primary capital source being the Michigan Strategic Fund — a state-level vehicle charged with economic development. Board member and Treasurer Martin Dober, a Senior Vice President at Invest Detroit, exemplifies the tight coupling between the state's early-stage capital providers. The firm runs two primary investment vehicles: the Michigan Pre-Seed Fund 2.0 and the University Commercialization Fund. These programs target pre-revenue and early-revenue technology companies spun out of the state's university system — including the University of Michigan, Michigan State, and Wayne State. Investment stages cluster at seed and start-up, with initial checks typically below $500,000. Invest Michigan frequently co-invests alongside Invest Detroit's ID Ventures arm, and the firm has backed companies across enterprise software, advanced manufacturing, and life sciences. Confirmed geographic focus is exclusively Michigan, with deal flow sourced from university tech-transfer offices, regional accelerators, and the Michigan Venture Capital Association network. Invest Michigan operates from two offices — its Northville headquarters and a Detroit outpost in the Chrysler House building. The firm is an active member of the Michigan Venture Capital Association and participates in the annual MVCA research report that benchmarks statewide venture activity. Its two funds operate on a rolling basis rather than as closed-end vehicles with vintage-year pacing; this evergreen structure is common for state-funded programs that must align deployment with legislative appropriations rather than LP capital calls. The structural differentiator is the firm's hybrid posture: Invest Michigan is neither an independent venture firm nor a pure grant-making body. It manages state funds with a return-seeking mandate while serving a policy objective — increasing the volume of investable, university-derived startups in Michigan. This dual charter places it between MEDC, the state's economic development agency, and the for-profit venture community, functioning as a de-risking layer that prepares companies for institutional investors like Invest Detroit and out-of-state venture firms.
General information
Firm type
Generalist
Year founded
2010
AUM
Undisclosed
Location
Region
North America
Country
United States
City
Northville
Corporate office
235 E. Main St., Suite 105B, Northville, MI 48167, United States
Additional offices
500 Griswold St., Suite 1640, Detroit, MI 48226, United States
Principals
Charlie Moret
President, CEO, and Chairman
Christina Keller
Board Member
Martin Dober
Board Member and Treasurer; Senior Vice President at Invest Detroit
Sector focus
Frequently asked questions
How is Invest Michigan funded, and who controls its investment decisions?
Invest Michigan is primarily funded by the Michigan Strategic Fund, a state-level funding vehicle administered through the Michigan Economic Development Corporation. Investment decisions are made by the Invest Michigan team under the leadership of Charlie Moret, with board oversight from representatives of the state's entrepreneurial and venture community, including Invest Detroit. The firm operates independently within the mandate set by its state partners.
What investment stages does Invest Michigan typically target?
Invest Michigan targets pre-seed, seed, and start-up stages, writing initial checks generally below $500,000. Its programs are designed to bridge the gap between university research grants and institutional Series A rounds — a funding gap often called the 'valley of death' in technology commercialization.
Does Invest Michigan operate as a traditional venture capital fund?
No. Invest Michigan operates more like an evergreen state program than a closed-end venture fund with vintage-year pacing. Its capital comes from legislative appropriations rather than LP commitments, which means deployment cadence and fund size are tied to public funding cycles rather than private fundraising events.
Which universities supply the majority of Invest Michigan's deal flow?
The University of Michigan, Michigan State University, and Wayne State University are the primary sources. The University Commercialization Fund is explicitly structured to translate research from these institutions into viable startups, often in partnership with university tech-transfer offices.
What is Invest Michigan's relationship with Invest Detroit?
Invest Michigan and Invest Detroit are distinct entities but close co-investors. Martin Dober, a Senior Vice President at Invest Detroit, serves as Invest Michigan's Board Member and Treasurer. Invest Detroit's venture arm, ID Ventures, frequently participates in follow-on rounds for companies initially backed by Invest Michigan's pre-seed programs.
What type of companies does Invest Michigan avoid?
Invest Michigan does not invest in companies without a clear Michigan nexus — whether through university affiliation, founder location, or operating presence. The firm also avoids later-stage companies and growth-equity rounds, maintaining a strict focus on early-stage technology ventures.
Does Invest Michigan take board seats in its portfolio companies?
As a pre-seed and seed investor, Invest Michigan typically does not take formal board seats but maintains active observer or advisory roles. The firm's influence often flows through its co-investor network — particularly Invest Detroit — rather than through formal governance positions.
Profile maintained by Altss using OSINT (open-source intelligence), regulatory filings, licensed data partners, and verified direct submissions. Read the methodology. Last updated: . Continuous refresh with full update cycles at least every 30 days.
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