2012 PURE MICHIGAN VENTURE MATCH FUND DETAILS
The Michigan Strategic Fund (MSF), through the Pure Michigan Venture Match Fund (PMVM Fund), is soliciting applications from for-profit Michigan-based companies that have received an equity investment commitment from a qualified venture fund for commercialization and growth purposes to provide a match of the investment as follows:
- Qualified venture led investments from $700,000 to $1,000,000 will be matched by a 50% ($350,000 to $500,000) investment from the PMVM Fund.
- Qualified venture led investments from $1,000,000.01 to $3,000,000 will be matched by a $500,000 investment from the PMVM Fund.
The PMVM Fund Guidelines are designed to provide potential applicants with sufficient information to submit a proposal that meets the MSF’s minimum requirements. The minimum requirements contained in the PMVM Fund Guidelines are not intended to limit the proposal’s content or exclude any information the applicant feels is relevant or essential to their bid.
TIMELINE & APPLICATION PROCESS:
- April 2, 2012 – PMVM Fund launch
- Applications will be accepted until the initial funding allocation has been fully committed.
- Applicants may submit questions to PMVMF@Michigan.org. Responses will be posted to this Web page periodically. Applicants are encouraged to check this site frequently for updates. There is no deadline for submitting questions.
- It is expected that the full review process will take a minimum of 90 days. The review period may be longer or shorter depending on application volume.
- Successful applicants will be expected to undergo thorough due diligence and civil and criminal background checks prior to the execution of any award under the PMVM Fund.
- Applications must be submitted to PMVMF@Michigan.org.
- There is a $1,000 application fee due after the Michigan Economic Development Corporation (MEDC) staff has confirmed that the application meets the requirements of PMVM Fund Guidelines. MEDC Staff will notify applicants when and how to submit payment of the application fee.
- Applicants are required to complete a Conflict of Interest Disclosure Statement form. Click here to download this form.
Applicants are strongly encouraged to carefully read the PMVM Fund Guidelines prior to submitting an application.
Q & A SECTION
Questions pertaining to the Pure Michigan Venture Match Fund should be submitted electronically to
PMVMF@Michigan.org. Responses to questions will be posted to this section of the Web page on a regular basis.
