I am happy to share this first annual report of the University of Michigan’s Accelerate Blue Fund. This report will show that the Fund is already having a positive impact.
We began our fundraising efforts in 2020, and I am pleased to report that the Accelerate Blue Fund now has over $15 million under management thanks to a combination of donor and university support. The Fund's first investment in Movellus, Inc. was made in May of 2021. Since that time, we have deployed $1.77 million of investment capital into twelve startups. Without our donors and supporters, the success of Accelerate Blue would not have been possible. Thank you!
We have a lot more work to do, but it is worth taking a moment to celebrate the Fund's success, see where we started, how we have done and where we plan to go. The Innovation Partnerships team is excited to leverage the nation’s 3rd largest university research enterprise to launch incredible startups that will create economic opportunity and positive societal impact.
Go Blue!
At Innovation Partnerships, we are honored to support U-M faculty in their efforts to see their research have a positive societal impact through commercialization. The Accelerate Blue Fund is a key component of our ability to enable the launch of high-growth startup companies. By providing patient seed capital to promising U-M startups, Accelerate Blue is unlocking the transformative power of the university’s research engine.
The impact of Accelerate Blue extends well beyond the dollars invested. It has strengthened our office’s ties with the investment community and has helped us to raise the profile of the University of Michigan as a leader in research commercialization.
We are incredibly grateful to the donors and supporters of the Accelerate Blue Fund. Your support has been vital in unlocking this force multiplier for the U-M startup ecosystem. We are well on our way, and look forward to continuing to grow the Fund and its impact with your support.
Sincerely,
"As a leading public research university, it remains incredibly important that society realizes the benefits of our research and scholarship. That means translating ideas, discoveries and technologies from the lab to the marketplace."
- Rebecca Cunningham, M.D., Vice President for Research, University of Michigan
"The Accelerate Blue Fund is the perfect vehicle to create economic opportunity and fuel economic growth. By supporting the Accelerate Blue Fund, we are enabling the university to attract and retain world-class faculty and ensuring that the world benefits from the incredible research and innovation created at the University of Michigan.”
-Rob Bronstein, Co-Founder & President, The Scion Group; Chair, Accelerate Blue Fund Strategic Advisory Board
"Long before we were fundraising, the Ventures team at Innovation Partnerships provided critical mentoring, advice and support to our team. They've been great partners on our entire journey, and we're super grateful for the Accelerate Blue Fund investment and all their help transforming an academic project into a company and product."
-Olivia Walch, Founder and CEO of ABF Portfolio Company Arcascope
Stats and Facts of Fund and Portfolio Performance
$1,774,998 Total Invested by ABF
Current Recognized Valuation - $1,820,684
$44,635,000 Total Raised by Portfolio Companies
Total raised by companies not including ABF investments - $42,860,002
For every $1 of ABF investment, portfolio companies have raised $24 of additional investment capital
Portfolio companies have created 182 jobs in total, of which 146 are in Michigan
Industry Sectors of Portfolio Companies
Semiconductor • Advanced Manufacturing and Additive Manufacturing/or 3D Printing • Sensor - Internet of Things (IOT) - Related to Sensors • Health IT - Sleep Technologies • Cleantech - Carbon Reduction Cleantech and Advanced Materials • AR/VR - Brain Computer Interface and Software • Health IT - CRM • Health IT - Inherited Disease Prediction • Cleantech - Software - Contamination Mitigation • AI • Microfluidic Technology
ABF Strategic Advisory Board
Rob Bronstein - Co-Founder, President, The Scion Group
The Martin Family Foundation - Bill, Sally, Seth and Mike Martin
Ron and Kathy Colby
Amazon Web Services, Inc
Don and Anais Hicks
Richard Douglas and Dr. Anita Kupriss
Don and Erica Sweeney
Toby Brzoznowski - Co-Founder, Chief Strategy Officer, LLamasoft, Inc.
The Bayer Family Foundation - Matt Bayer and Joyce Yaung
Ehrenberg Family Charitable Fund - Roger and Carin Ehrenberg
Melvyn Yeo - Founder, TRIREC
Jonathan C. Oberheide and Ashley N. Oberheide
George and Danielle Skestos
MCRA LLC - Anthony Viscogliosi
Investment Advisory Board
Chris Rizik, Founder & CEO, Renaissance Venture Capital
Christine Gibbons - COO, Fusion Coolant Systems, Inc.
Jay Ellis - Director, Rivian, Inc.
Lisa McLaughlin - Co-Founder, Workit Health, Inc.
Peter Falzon - CEO, Ripple Sciences, Inc.
Felicia David-Visser - Senior Manager, U-M Investment Office
Rafael Castilla - Director of Investments, U-M Investment Office
Mike Klein - CEO, Genomenon, Inc.
Alisyn Malek - Managing Director, Newlab, Inc.
Lara Pender - Partner, Gunderson Dettmer
Adrian Ohmer - Investment Director, The Kresge Foundation
Javier Evelyn - Founder & CEO, Alerje, Inc.