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Michigan Biomedical Venture Fund
Michigan Biomedical Venture Fund is a venture capital firm founded in 2016 in Ann Arbor, Michigan. It invests in life sciences companies in therapeutics,...
Michigan Biomedical Venture Fund
Michigan Biomedical Venture Fund is a venture capital firm founded in 2016 in Ann Arbor, Michigan. It invests in life sciences companies in therapeutics, devices, diagnostics, and health information technology sectors. The firm was formerly known as the Monroe-Brown Seed Fund and has made 4 investments, including a Seed VC in Dvant Pharmaceuticals in April 2021.
General information
Firm type
Venture Capital
Year founded
2015
Location
Region
North America
Country
United States
City
Ann Arbor
Corporate office
Ann Arbor, MI, United States
Principals
Ken Kwasniewski
Managing Director
Sector focus
Frequently asked questions
How does MBVF source its investment opportunities?
MBVF sources exclusively from the University of Michigan's biomedical research ecosystem. The fund reviews patent disclosures, faculty spinout proposals, and graduate-student ventures emerging from the Medical School, College of Engineering, and affiliated health system. This embedded university relationship grants near-exclusive first-look access that a financially unaffiliated venture firm cannot replicate.
What is the fund's relationship to the University of Michigan endowment?
MBVF is not part of the University of Michigan endowment. It operates within the Center for Entrepreneurship and is funded through a combination of university commitments, philanthropic support, and investment returns. The endowment invests through a separate, professionally managed investment office that allocates to external managers across asset classes.
What types of biomedical companies does MBVF invest in?
MBVF invests across therapeutics, diagnostics, medical devices, drug-delivery platforms, and digital health. Portfolio companies have spanned cell-separation technology (Akadeum), inflammatory-disease therapeutics (Asalyxa Bio), insecticidal peptides (Venomix/Vestaron), and single-cell diagnostics (Celsee Diagnostics, acquired by Bio-Rad).
Is MBVF structured as a traditional closed-end venture fund?
No. MBVF has historically been structured as an evergreen fund, meaning investment returns are retained and recycled into new University of Michigan biomedical spinouts rather than returned to limited partners on a defined timeline. This structure aligns with the long translational timelines characteristic of biomedical ventures.
Who directs the fund's investment decisions?
Ken Kwasniewski serves as Managing Director and leads investment decisions. The fund draws on a broader advisory network that includes University of Michigan clinical faculty, engineering researchers, and an entrepreneur-in-residence program housed within the Center for Entrepreneurship.
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