In an ominous sign for Michigan's entrepreneurial efforts, a report released Friday shows that venture capital investment in Michigan companies reached a 14-year low in 2011.
Last year, the amount of venture capital flowing to Michigan companies plunged 46 percent to $83 million compared with $152 million in 2010, according to the MoneyTree Report from the National Venture Capital Association and PricewaterhouseCoopers. That was the lowest amount of investment since 1997.
The number of Michigan companies getting venture dollars held steady, with 31 deals last year compared with 32 in 2010.
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