Venture capital investment in Michigan companies has jumped despite the state's economic struggles and national trends heading the other way.
A report to be released Saturday by PriceWaterhouseCoopers and the National Venture Capital Association shows venture firms invested $89.4 million into 11 Michigan deals during the third quarter. That compares to only $7.4 million into five deals during last year's period.
U.S. venture investment dropped to $7.1 billion during the quarter, from $7.8 billion last year.
The Detroit Free Press reports the numbers show fewer dollars going to early-stage companies. The numbers don't include the impact of this month's global financial meltdown, which experts say could make first-time financing more difficult to get.
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