Michigan, often known for its automotive startup sector, is still a dream place for many entrepreneurs to boost or even set up their new businesses. The state is currently hosting more than 5,000 startups, many of which are related to software, food, tech, and automotive.

However, the surprising fact is that many of these startups aren’t self-funded. They were funded by angel investors who are hungry and keep searching for deserving ventures that can utilize their investment.

Do you also want to know these investors and understand how to connect with them?

Well, here’s the list of the top 5 angel investors in Michigan with some additional tips.

Top Angel Investors in Michigan

Following is the list of some of the top angel investors in Michigan. While most of the investors are based in Detroit, remember that these firms and investors fund startups throughout the state.

Onto the list now!

Jonathan Oberheide

LinkedIn: (3) Jon Oberheide | LinkedIn

Investor Type: Individual Investor

Investment Interests: Cybersecurity

Investment Stage: Early and Seed

Funding businesses for almost 4 years now, Jonathan Oberheide is also a renowned angel investor who likes to fund startups at the early and seed stages. Previously, he has been a security expert and a researcher with expertise in mob security, cloud security, and malware analysis.

When funding startups, Jonathan likes select startups that have decent growth potential and are led by senior entrepreneurs. Business leaders usually have to apply for a meeting online, and if they get selected, they have an opportunity to pitch to Jonathan Oberheide.

Aside from his investments, Jonathan Oberheide also participates in mentorship programs and guides his portfolio companies. The investment range of Jonathan Oberheide ranges from $500,000 to $1.5M. Among 15 of his previous investments, some portfolio companies are:

Dropzone AI: Dropzone AI is an IT company that develops a platform delivering pre-trained autonomous AI security agents that work alongside human analysts on security operations. The platform handles the frontline work of investigating the mountain of alerts from security systems. 

Abbey Labs: Abbey Labs operates an access governance platform intended to help engineers secure access to sensitive data. The platform integrates common access workflows, such as requests and approvals, into a company’s existing developer tooling and infrastructure.

Blumira: Blumira is a developer of a cloud-based cybersecurity platform. It specializes in the identification, detection, and response to malware, data leakage, and cyber and ransomware attacks to prevent data breaches.

Robert Mylod Jr

Website: Robert Mylod, Jr. | Board Member | Vroom, Inc. 

Investor Type: Individual Investor

Investment Interests: Consumer Products

Investment Stage: Early and Seed

Robert Mylod Jr is also an angel investor who provides funding to Michigan-based startups. He has held several roles at priceline.com from 1999 to 2011, including Vice Chairman of the Board of Directors, Head of Worldwide Strategy and Planning, and Chief Financial Officer. Prior to joining priceline.com, he was a Principal at Stonington Partners, a private equity investment firm.

Aside from his career at Annox Capital, Robert also funds startups on an individual basis and has made a total of 10 investments in the past 5 years. Even when his investments may sound low, he usually invests at the seed stage and goes big once he selects a startup for funding.

As for his startup selection process, Robert Mylod Jr selects startups that are based on unique ideas, offer solutions, and have strong chances of growth. Looking at his portfolio companies, it is evident that Robert often funds startups with the lowest competitors.

The investment range of Robert Mylod can range upto several million dollars depending on the startup. Some of his notable portfolio companies are:

@hotel: It is a restaurant plus guesthouse that provides the best services. This company received Venture Round funding from Robert Mylod Jr. on Nov 29, 2023, when @hotel raised $4M. 

Sakara Life: This company received Series B funding from Robert Mylod Jr. when Sakara Life raised $15M. Sakara Life is a wellness company that provides organic, plant-based meals and functional products for delivery.

Bloomscape: This company received Series B funding from Robert Mylod when Bloomscape raised $15M. Bloomscape is a direct-to-consumer plant brand that delivers ready-to-go plants to your door along with tips and tricks for plant care.

Arboretum Ventures

Website: Midwest Healthcare Venture Capital Firm | Arboretum Ventures (arboretumvc.com)

Investor Type: Venture Capital Firm

Investment Interests: Pharma, Life Sciences, Tech-Enabled Care Delivery

Investment Stage: Series A, Series B

Funding startups since 2002, Arboretum Ventures is also a notable investment network that funds Michigan-based businesses. The network was founded by Jan Garfinkle and Tim Petersen. With headquarters in Ann Arbor, Arboretum Ventures focuses on funding startups that are related to healthcare.

Similarly, Arboretum Ventures specializes in seed-stage, early-stage, mid-stage investments and growth capital. They value startups that solve significant healthcare problems and make a transformational impact. They look for teams who are diverse in thought, geography, and demographics.

Aside from their investment activities, Arboretum Ventures is also known to arrange many startup events throughout the year. They arrange many workshops and networking events to boost startup growth throughout the state.

The investment range of Arboretum Ventures can range upto several million dollars depending on the startup type and its growth potential. Some of their famous investments are:

ConcertoCare: ConcertoCare is a provider of tech-enabled and value-based care intended for seniors and other adults with unmet health and social needs. The company deploys physician-led interdisciplinary teams supported by its proprietary population health platform and provides clinical decision support tools. 

Boomerang: Boomerang offers reusable packing materials with a deposit system. It’s a marketing agency that provides online publishers with access to free, revenue-generating gift cards from top advertisers.

Convergent Dental: Convergent Dental is a developer of a computer-aided dental preparation system designed to offer a comfortable patient experience during dental surgeries. The company’s system is a carbon-dioxide laser for both hard and soft tissue indications that cuts quietly, finely, and faster than other laser-based systems in dentistry.

RPM Ventures

Website: RPM Ventures (rpmvc.com)

Investor Type: Venture Capital Firm

Investment Interests: Mobility, Enterprise Software, Insurance

Investment Stage: Series A, Seed, and Series B

RPM Ventures is a venture capital firm that was founded in 2000 by Marc Weiser. The firm is based in Ann Arbor and funds startups that are in the early stages. Consisting of around 10 investors, RPM Ventures ensures they can select the most deserving startups through their screening tests and invest accordingly.

When arranging pitching contests, RPM Ventures, like most other firms, also has an online application form and only selects a few startups to pitch on-site. They usually make around 5-20 investments each year and conduct around 5 pitching contests.

Similarly, the network participates in fundraisers, conducts startup accelerators, and is involved in a lot of activities to boost the growth potential of the state.

The investment stage of RPM Ventures ranges from $5M to $50M. Some of their portfolio companies are:

BountyJobs: BountyJobs is a technology for collaboration between employers and recruitment agencies. The company has raised a total of $29.8M in funding.

Convey: Convey is a company that develops last-mile and delivery management solutions. Convey has raised a total of $25.8M in funding.

DailyPay: DailyPay is a financial platform that provides payroll services. DailyPay has raised a total of $1.1B in funding.

Plymouth Growth was founded by Ian Bund in 2003. The firm has funded a total of 60 startups since its inception and is still funding more.

Plymouth Growth

Website: Plymouth Growth | Smart. Proven. Growth. (plymouthgp.com)

Investor Type: Venture Capital Firm

Investment Interests: SaaS, Information Technology, Software

Investment Stage:  Growth

When investing, Plymouth Growth invests in tech, B2B Software, and other service-providing startups that are based in Michigan. They look for startups that are led by experienced entrepreneurs, have a hardworking team, and have strong growth potential.

Once funded, Plymouth Growth has an experienced network of mentors who guide their portfolio companies. The network also organizes many additional startup events to boost the entrepreneurial landscape.

The investment range of Plymouth Growth can range from $5M to $15M. Some of their notable portfolio companies are:

Nutshell: Nutshell is a company that develops a customer relationship management (CRM) platform designed to help small businesses sell more. The platform provides sales automation, email marketing, reporting, and tracking performance. Nutshell has raised a total of $60M in funding.

Able: Able is a mobile app that allows users to manage their income. The company has prior experience developing its own products as well as collaborating with others. Able has raised a total of $3.29 million in seed funding.

365 Retail Markets: 365 Retail Markets is the global leader in unattended retail technologies. They provide one-of-a-kind solutions designed to maximize the performance of any retail environment.

Wrap-Up

Summing up, there are a lot of angel investors whom you can pitch to and secure an investment. 

However, the process often sounds difficult, especially for business leaders who are attending their first investor meeting. Regardless of your experience, have a strong belief in your startup idea, remain confident, and show the investors why your business is worth the funding.

Good Luck!

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