# Michigan Biomedical Venture Fund

Michigan Biomedical Venture Fund is a Venture Capital based in Ann Arbor, United States.

## Overview

- **Organization type:** Venture Capital
- **Headquarters:** Ann Arbor, United States
- **Region:** North America
- **Address:** Ann Arbor, MI, United States
- **Founded:** 2015
- **Assets under management:** Undisclosed
- **Website:** cfe.umich.edu
- **LinkedIn:** https://www.linkedin.com/company/mbvf

## Regulatory record

- **Reports private funds:** No

## About

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.

## Sectors

- Digital Health
- Medical Devices
- Healthcare Services
- Life Sciences

## People

- Ken Kwasniewski — Managing Director

## 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.

## Related profiles

- [Michigan BAC Pension Fund](https://altss.com/profile/michigan-bac-pension-fund)
- [Michigan Capital Advisors](https://altss.com/profile/michigan-capital-advisors)

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Last updated: 2026-06-03T20:00:00.000Z

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