INVESTMENT CRITERIA
What We Look For
Anchor Up Ventures invests in Michigan-based, high-tech companies at early stage. We prioritize founders building in sectors where Michigan has a genuine competitive advantage — and we're especially focused on West Michigan's growing innovation ecosystem.
Your company must be headquartered in Michigan and employ a majority of full-time staff in the state. We have a strong preference for companies based in West Michigan and the Greater Grand Rapids area.
We focus on pre-seed and seed-stage companies entering the commercialization phase. Whether you're pre-revenue or generating early traction, we want to meet you where you are.
We invest in technology companies tackling meaningful challenges. You should have a defensible technology advantage, proprietary IP, or a novel approach that creates lasting competitive value.
Companies must be registered as a for-profit LLC, C-Corporation, or S-Corporation. Non-profits, sole proprietorships, and hobby projects are not eligible.
We look for companies that can secure matching investment from other funding sources — angels, other funds, grants, or strategic partners. We're built to work alongside other capital.
We're looking for ventures with the potential to scale significantly. Your business model should be capable of growing well beyond the local market and generating strong returns on investment.
SECTORS WE BACK
Broad Mandate, Michigan Advantage
We invest across high-tech industries where Michigan has proven strength or emerging opportunity.
- Advanced Manufacturing
- Defense and Aerospace
- Clean Energy and Tech
- Life Sciences and Healthcare
- Professional and Business Services
- Mobility and Automotive Manufacturing
HOW WE INVEST
Funding Structure
Initial Investment: $50,000 – $150,000
We co-invest at the pre-seed and seed stage, with initial checks sized to help you hit your next meaningful milestone.
Evergreen by Design
Unlike traditional VC funds with a fixed life, Anchor Up Ventures is structured as an evergreen, perpetual capital fund. Returns from our investments are recycled back into the fund to back new startups — building a self-sustaining engine for Michigan innovation that compounds over time.
This structure is part of the statewide Michigan Innovation Fund, a bipartisan initiative with a $60M legislative appropriation to grow Michigan's startup ecosystem.
Follow-On Funding
Portfolio companies demonstrating strong progress may be considered for follow-on investment as the fund's capital base grows.
Investment Structures: Equity
We use flexible structures based on your company's stage, needs, and existing cap table.
BEYOND CAPITAL
What We Bring to the Table
Our investment comes with access to Grand Valley State University's ecosystem, expertise, and network.
Strategic Partnerships
We help connect portfolio companies with relevant industry partners and business relationships across West Michigan and beyond.
University Resources
Portfolio companies gain access to GVSU's research capabilities, faculty expertise, student talent, and in 2027, to the Blue Dot innovation hub in downtown Grand Rapids.
Statewide Network
As part of the Michigan Innovation Fund ecosystem, we connect founders to a broader network of university-affiliated funds and investors across the state.
Frequently Asked Questions
Anchor Up Ventures is an evergreen venture fund administered by the Grand Valley Research Corporation. Launched with a $1.6 million grant from the Michigan Innovation Fund, and managed by the Michigan Economic Development Corporation, the fund invests in early-stage, high-tech startups in Michigan with a focus on the West Michigan region. Returns from investments are recycled back into the fund to support future startups indefinitely.
No. While we're proud of our connection to GVSU and welcome applications from students, faculty, staff, and alumni, GVSU affiliation is not required. Any qualifying Michigan-based startup is eligible to apply.
Initial investments range from $50,000 to $150,000. Portfolio companies showing strong traction and milestone achievement may be considered for follow-on investment. We invest using flexible structures including SAFE Notes, Convertible Debt, and Equity, depending on what makes sense for your stage and situation.
We focus on pre-seed and seed-stage companies in the early commercialization phase. Your company doesn't need to be generating revenue, but should have a clear value proposition, an identified target market, and a path to commercialization.
Yes. While we have a strong preference for companies in the West Michigan / Greater Grand Rapids region, we are open to Michigan-based companies statewide. Your company must be incorporated in Michigan and employ the majority of its full-time staff in the state. Geography will be a factor in our investment decisions, but it's not an automatic disqualifier for companies based elsewhere in Michigan.
We do look for companies that are able to secure co-investment from other sources — this could include angel investors, other venture funds, SBIR/STTR grants, or strategic partners. You don't need to have this fully in place before applying, but you should have a clear plan and active conversations. Our investment is designed to be part of a broader capital stack, not your only funding source.
We have a broad mandate across high-tech sectors where Michigan has a competitive edge. This includes advanced manufacturing, defense and aerospace, clean energy and tech, life sciences and healthcare, professional and business services, and mobility and automotive manufacturing. We prioritize companies operating in industries where Michigan has genuine strength — and where our investment and network can move the needle.
The Michigan Innovation Fund is a state initiative created with bipartisan support and a $60 million legislative appropriation. It supports a statewide network of evergreen venture funds affiliated with Michigan universities, including funds at the University of Michigan, Michigan State University, and Western Michigan University. Anchor Up Ventures is one of three newly launched "emerging" funds under the program, alongside InvestUP (Upper Peninsula) and 20Fathoms (Traverse City).
An evergreen fund is a perpetual capital vehicle — unlike a traditional VC fund that returns proceeds to investors in the fund, an evergreen fund reinvests returns from successful investments back into new companies. This means our capacity to invest grows over time and is not limited by a fund lifecycle. It also means we're aligned with the long-term success of Michigan's startup ecosystem, not a fixed investment window.
GVSU Blue Dot, targeted to open in 2027, is GVSU's new technology and innovation hub located in downtown Grand Rapids. It will serve as a physical "hub" for commercialization, founder support, and student engagement. Anchor Up Ventures is a key financial engine supporting Blue Dot's mission — portfolio companies will gain access to the hub's programming, resources, and community as part of the investment relationship.
You can submit your company for consideration using our online application form. If you have questions before applying, feel free to reach out via the contact link below.
If your Michigan-based tech startup meets our criteria, we want to hear from you.