Renaissance Venture Capital Fund, an Ann Arbor and Detroit-based venture capital fund-of-funds, closed its third fund, at $81m.
Renaissance Fund III leverages the same diverse mix of corporate and institutional partners that defined previous funds. With a total of $205m raised since its inception in 2008, Renaissance is a fund of funds that supports the growth of venture capital in Michigan while serving as a bridge between Michigan’s emerging innovation company community and its industrial and commercial base.
Renaissance Funds I and II closed at $45m and $79m, respectively.
Led by Chris Rizik, CEO and fund manager, Renaissance has deployed capital into more than 30 top tier venture capital funds around the U.S., which has resulted in the emergence of 39 Michigan startup companies, with a workforce of 1,300 employees and average salaries exceeding $75,000.