In 2023 alone, Michigan's Healthcare ventures collectively generated an estimated $1.2 billion in revenue, creating around 50,000 jobs. Every year, the state is witnessing the success of newer startups, all thanks to startup investors.
These investors have been backing the healthcare sector for decades. The Government of Michigan states that the healthcare industry has attracted over $33 Billion in funding.
So, who are these startup investors always ready to support innovation?
Time to find out as we dive deep into the list of the top startup investors in Michigan supporting healthcare startups.
Top 8 Angel Investors in Michigan Who Invest in Healthcare Startups
To simplify things, we have classified the following list of top VC firms, PE Firms, and individual investors based on their active involvement and total investment.
Hopping onto the list now!
Investor/Firm | Focused Sectors | Notable Investments | Funding Stages | Investment Range |
---|---|---|---|---|
Red Cedar Ventures | Sector Agnostic | GreenMark Biomedical, Switched Source, Mito | Early, Growth | Up to several million dollars |
Arboretum Ventures | Medical Devices, Biotech, Telemedicine, Mental Health, Wellness, Clinical Research | NxThera, NeuMoDx Molecular, ArborMetrix, Venclose | Early, Growth | Up to $10M |
Annox Capital | Healthcare, Fintech, Agtech, Cleantech, Biotech, Life Sciences | HealthTech Solutions, GreenEnergy Ventures | Series A, Seed | Around $2M |
BioStar Capital | Healthcare, Software | Ablative Solutions, Spineology, NeoChord, TheraCardia | Early | Around $4M |
Michigan Capital Network | Technology, Life Sciences, Advanced Manufacturing, Consumer Products | Voxel51, Ambiq Micro, GreenLancer, Shoulder Innovations | Seed, Series A | Up to $5M |
Jason Barnett | AI, HR, IT, Logistics, Health Care, Clinical Trials | Cloudflare, Peloton, Beyond Meat | Seed, Series A | $100,000 - $500,000 |
David Blaszkiewicz | Health Care, SaaS, E-Commerce, Marketplace, Women-Led | BoostUp, ToDoolie, SPLT | Seed | $50,000 to $250,000 |
Red Cedar Ventures

- Contact: info@redcedarventures.com
- Website: Red Cedar Ventures — Michigan State University Research Foundation (msufoundation.org)
- Focused Sectors: Sector Agnostic
- Funding Stages: Early and Growth
- Present in: Michigan
- Notable Investments: GreenMark Biomedical, Switched Source, Mito Materials Solutions, Niowave, and Dewpoint Therapeutics.
- Total Investments: 196
Red Cedar Ventures is a venture capital firm that was founded in 2016 by Michigan State University Foundation. Headquartered in East Lansing, the firm focuses on providing capital and support to early-stage startups that are associated/working with Michigan State University.
Like most other investors, RCV focuses on funding start-ups that can generate high profits and make successful exits. During the pitching events, they prioritize healthcare companies that leverage cutting-edge research and have the potential to at least generate 10x ROI within 5 years of investment.
The investment range of Red Cedar Ventures can go up to several million dollars.
Arboretum Ventures

- Contact: info@arboretumvc.com
- Website: Midwest Healthcare Venture Capital Firm | Arboretum Ventures (arboretumvc.com)
- Focused Sectors: Medical devices, pharmaceuticals, biotechnology, telemedicine, health informatics, medical imaging, dental care, veterinary medicine, home healthcare, mental health services, wellness and preventive care, health insurance, medical supplies, and clinical research.
- Funding Stages: Early, Seed, and Growth
- Present in: Midwest
- Notable Investments: NxThera, NeuMoDx Molecular, ArborMetrix, Lucina Health, Plexus Technology Group, and Venclose.
- Total Investments: 146
Founded in 2002 by Jan Garfinkle, Tim Peterson, and Paul McCreadie, Arboretum Ventures is one of the most active investment firms in the state.
Since its inception, Arboretum Ventures has invested in over 50 startups. The firm has successfully guided many of these companies through the full life cycle of a startup, including achieving significant exits.
When investing in startups, Arboretum Ventures usually focuses on innovative startups that are pioneering new medical technologies, diagnostic tools, and healthcare services. The average check size of Arboretum Ventures can range up to $10M.
Annox Capital

- Contact: @annoxcapital.com
- Website: Annox Capital – Annox Capital Investments
- Focused Sectors: Healthcare, Tech, Data Management, Software, Fintech, Agtech, Cleantech, Pharma, Biotech, Life Sciences
- Funding Stages: Series A and Seed
- Present in: Michigan and California
- Notable Investments: HealthTech Solutions and GreenEnergy Ventures
- Total Investments: 100
Annox Capital, founded in 2014, focuses on early-stage investments in Michigan's health tech and fintech sectors. Since its inception, Annox Capital has invested in over 100 startups, with a total of 30 exits to date.
When funding startups, the investors from Annox Capital focus on startups that address market problems such as data security, management, and customer assistance.
The firm typically invests in companies at the Seed and Series A stages but is also investing in the growth stages, depending upon the startup. The average check size is around $2M.
BioStar Capital

- Contact: info@biostar.capital
- Website: BioStar Capital - Visionary Healthcare Investors | United States
- Focused Sectors: Healthcare and Software
- Funding Stages: Early
- Present in: Michigan
- Notable Investments: Ablative Solutions, Spineology, BackBeat Medical, NeoChord, and TheraCardia.
- Total Investments: 86
BioStar Capital is a venture capital firm founded in 2003 by Michael Fulton and Louis Cannon, both of whom are highly experienced in the medical field. The firm is headquartered in Petoskey, Michigan, and has a strong focus on early-stage investments in the healthcare sector.
Each year, BioStar Capital invests in 4-5 growth-stage companies that are showing strong chances of traction and have a solid growth model. The network has invested in over 80 companies and supports a wide range of sectors, including healthcare.
The average check size of BioStar Capital is around $4M.
Michigan Capital Network

- Contact: info@michigancapitalnetwork.com
- Website: Home - Michigan Capital Network
- Focused Sectors: Technology, life sciences, advanced manufacturing, and consumer products
- Funding Stages: Seed and Early
- Present in: Michigan
- Notable Investments: Voxel51, Ambiq Micro, NeuroNexus, GreenLancer, and Shoulder Innovations.
- Total Investments: 81
Funding startups since 2012, Michigan Capital Network is also a famous name in the VC community of Michigan. The network was established by Paul D’Amato, Dale Grogan, and Jeff Wesley, to bring together some of the biggest and most famous investors in the state.
So far, Michigan Capital Network has succeeded in doing so and also organizes dozens of networking events every year. The team of investors like most other investors looks for profitable startup investments.
The investment range of Michigan Capital Network can range up to $5M.
Jason Barnett
- Focused Sectors: Artificial Intelligence, Human Resources, Internet, Software, Staffing Agency, Automotive, Information Technology, Logistics, Manufacturing, Health Care, Hospital, Personal Health, Risk Management, Clinical Trials.
- Present in: Michigan
- Notable Investments: Cloudflare, Peloton, and Beyond Meat
Investing in the healthcare world for more than a decade, Jason Barnett is an experienced angel investor with a strong background in finance and entrepreneurship. As an investor, Barnett prefers to invest in early-stage startups, typically at the Seed and Series A stages.
Before becoming an angel investor, Jason Barnett worked at several prominent venture capital and private equity firms.
While funding startups, Jason Barnett prioritizes innovation. He looks for companies that are introducing new healthcare solutions to the market and have little or no competition. His investment range is between $100,000 and $500,000.
David Blaszkiewicz
- Contact: Dave Blaszkiewicz | LinkedIn
- Focused Sectors: Health Care, Hospital, Personal Health, Risk Management, Women-Led, Clinical Trials, SaaS, E-Commerce, Enterprise Software, Marketplace, Apps, Hunting, Service Industry
- Present in: Michigan
- Notable Investments: BoostUp, ToDoolie, and SPLT
David Blaszkiewicz is also a famous angel investor who has been investing in Michigan healthcare startups for over a decade. As an investor, David began his journey in 2012, focusing on companies that drive economic development and create social impact.
Moreover, David has also held leadership roles while he served as the President and CEO of Invest Detroit. Every year, David Blaszkiewicz attends numerous startup events and makes most of his investments through startup accelerators, incubators, and fundraiser events.
His investment range varies between $50,000 to $250,000.
Wrap-Up:
In short, the strategic investments and mentorship from startup investors are providing a gigantic boost to Michigan’s healthcare sector.
Even though the state is a hotbed for healthcare startups, investors only invest if they sense some profits coming through the funnel.
And that’s your priority as a startup founder. Let the investor understand your idea, show him real-time market statistics about your startup’s profitability and he will definitely invest in the business.