Renaissance VC Invests in DFJ Mercury

Howard Lovy5/10/10

Renaissance Venture Capital Fund, with offices in Ann Arbor, MI, and Detroit, has invested $3 million in Houston VC firm DFJ Mercury, which says it will actively seek opportunities in Michigan. Renaissance CEO Chris Rizik says DFJ Mercury is a good fit for Michigan because of its focus on advanced materials, bioscience, and information technology, areas in which the region has a strong talent base. DFJ Mercury has already invested in Kabongo, an educational IT company with offices in Ann Arbor, and Ambiq Micro, also based in Ann Arbor, and is looking for another Michigan investment, Rizik says.

Howard Lovy is Xconomy's Detroit correspondent. You can reach him at hlovy@xconomy.com. Follow @