A statewide angel investor group added an executive vice president.
Grand Rapids-based Michigan Capital Network (MCN) said Monday, Dec. 6, it hired Diane Durance for the role. Durance joins CEO Paul D’Amato in leading efforts to increase angel investor activity across the state and supporting membership growth at the five angel organizations under the MCN umbrella.
“I am extremely pleased to join the talented leadership team at Michigan Capital Network,” Durance said. “The economic impact of angel investments is very significant. Every dollar invested in an early-stage Michigan venture results in nearly $10 of additional capital being brought into the state. I look forward to helping MCN and its investors build on that return and drive even more high-tech business development in Michigan.”
Prior to joining MCN, Durance served as the director of the Center for Innovation and Entrepreneurship at the University of North Carolina in Wilmington. She also previously served as president of Great Lakes Entrepreneur’s Quest (GLEQ), a Michigan nonprofit supported by the Michigan Economic Development Corporation to connect early-stage technology ventures with funding opportunities.
She began her work with technology startups in Ann Arbor in 2005 as president of the Ann Arbor IT Zone, an organization that preceded Ann Arbor SPARK. Durance started her business career as an entrepreneur, launching and growing three companies, including a telecommunications engineering firm, a contract publishing company and a residential construction business.
“We are so fortunate and thankful to add Diane to our association,” D’Amato said. “Her extensive experience in early-stage technology ventures and her overall understanding of the entrepreneurial ecosystem will benefit all of our angel investors and the companies in our portfolio.”
MCN includes investing members from Grand Angels, Ka-Zoo Angels, Woodward Angels, Flint Angels and the recently added BlueWater Angels. Combined, the association’s 162 members have invested more than $57 million with 91 companies. More than 1,500 jobs have been created through those investments.
More information about Michigan Capital Network and its regional angel investing groups is online.