Venture Fellows Program Announced

Apr 7, 2023

by Liz Gullett

As MLC’s Communications and Social Media Manager, Liz Gullett keeps clients informed and up-to-date on the goings on in Lansing and the Capitol.

Lt. Governor Garlin Gilchrist announced a partnership aimed at attracting and retaining investment professionals to Michigan. The collaboration between the Michigan Economic Development Corporation (MEDC) and the Michigan Venture Capital Association (MVAC) will work to accelerate the fundraising and deployment of capital into early-stage companies.

The MVCA will create a broad network of talent to grow Michigan startups and support Michigan’s venture capital ecosystem. The Michigan Strategic Fund is supporting the Venture Fellows Program with $500,000 in matching funds that will be used to increase the number of venture professionals in Michigan, helping to accelerate fundraising for early-stage companies.

To promote a diverse, equitable, and inclusive venture capital talent pool in Michigan, Lt. Governor Gilchrist brought together stakeholders to ensure the Venture Fellows Program prioritizes diversity, equity, and inclusion policies and practices. The program will help Michigan venture capital firms hire the next generation of venture fellows with diverse experiences and backgrounds.

The 2023 Venture Fellows Program will require candidates to have a track record of actively contributing to a diverse and inclusive community, a commitment to diversity initiatives, and diversity and inclusion training through MVCAcademy, a required one-day training for venture fellows.

Venture firms that participate will be required to:  

  • Be headquartered in Michigan or with a Michigan office.
  • Be structured in a manner that has general partners receiving a percentage of the total investment capital each year.
  • Be dedicated to building the entrepreneurial and investment community in Michigan.
  • IfAssets Under Management are greater than $100 million, match at least 60%; if AUM is less than $100 million, match at least 40% of the venture fellow’s annual salary.
  • Priority will be given to firms that do not already have an existing fellow.

Venture fellows who participate will be required to: 

  • Demonstrate significant ties to Michigan.
  • Be interested in making a meaningful contribution to the Michigan entrepreneurial and
  • investment community.
  • Actively contribute to promoting the entrepreneurial and investment community.

To learn more about the Venture Fellows program, please visit this link.

Michigan Legislative Consultants is a bipartisan lobbying firm based in Lansing, Michigan. Our team of lobbyists and procurement specialists provide a wide range of services for some of the most respected companies in America. For more on MLC, visit or connect with us on LinkedIn and Twitter.

Recent Posts

March Revenue Declines

March Revenue Declines

Last month, major taxes and net lottery revenue declined 24.7% from the prior year, coming in at $1.6 billion. Additionally, collections were roughly $169.6 million below prior projections from the consensus revenue estimating conference held earlier this year. Key...

Senate Passes Kindergarten Requirement

Senate Passes Kindergarten Requirement

Michigan’s young residents would be required to attend kindergarten under legislation passed by the Senate this week. Key Points: Senate Bill 285 was sponsored by Senator Dayna Polehanki (D-Livonia). A child must be enrolled in kindergarten at the age of five. A...

Legislature Approves Change to Driver License Issuance

Legislature Approves Change to Driver License Issuance

Legislation passed this week lifting restrictions on issuing driver’s licenses under certain circumstances. Passage of the bill was praised by Secretary of State Jocelyn Benson, “Similar to ‘Driver Responsibility Fees’ of years past, the multi-year prohibition from...

Looking for older articles?

We’ve recently made improvements to our blog to provide a better user experience. If you’re searching for older posts, click here to search our archive.

Michigan Legislative Consultants
110 W. Michigan Avenue
Suite 500
Lansing, MI 48933
517.372.0130 fax

1001 Woodward Avenue
Suite 500
Detroit, MI 48226

MLC is proud to be the Michigan member of NASL