Since the beginning of 2010, 750 companies headquartered in the Great Lakes region have attracted VC funding, according to the PitchBook Platform. During that timeframe, Illinois has led the way in terms of deal flow, attracting 32% of the region’s financings. Ohio, Wisconsin and Michigan follow, accounting for 18%, 16% and 14% of the deals, respectively.
In terms of capital invested by year, 2011 had, by far, the most VC activity with $3.5 billion in total. Even without Groupon’s jaw-dropping $950 million financing, the year would still mark the highest capital invested total for the region, well, ever. Though the deal count each year has increased since 2010, capital invested was cut in half from 2011 to 2012 (to $1.7 billion).
Just like the lakes that the region is named after, a number of the VC deals in the area have been huge in the last few years. Aside from Groupon’s nearly-billion-dollar raise, Chama Energy ($400 million round in 2011), Gogo ($176 million round in 2010) and ExteNet Systems ($128 million round in 2010) also pulled in enormous financings.