The announcement of a new Michigan venture capital firm companies is welcome news. Resonant Venture Partners will be based in Ann Arbor and focus on technology companies.

Venture capital has been under assault the last three years. Money has dried up given the economic environment and credit crunch. At the same time, a desperate government has looked to tax everything it can with venture capitalists certain under threat. Combined, this has resulted in what some call the “end of the era of venture capital.” Given this, the news of a any new venture effort is good news indeed.

Resonant Venture Partners is the brainchild of Jason Townsend and Michael Godwin. The two are Michigan natives, but have spent a good deal of time working in Silicon Valley in the venture capital industry. The two also have a history of running the Wolverine Venture Fund, the student run venture capital fund at the University of Michigan. 

Resonant Venture Partners is starting small and hoping to grow big. The initial goal is to raise only $10 million. This, in turn, would be invested with up to 15 different companies located mostly in Michigan. The downside for those seeking venture capital is Resonant is not loaded to the gills with money, but the upside is the venture clearly intends on working closely with the companies it invests in. Further, the stock transfer may be reduced as well, which can really pay off when a company goes public. 

Venture capital is thought to be a nationwide phenomenon. Those with history in the industry know that geography comes into account. Venture capital firms on the coasts have often had a bad habit of ignoring opportunities in the central region of the country. Resonant would seem to fill that gap in Michigan or at least be a start in that direction. 

If you are associated with a Michigan company looking for funding, Resonant Venture Partners is certainly worth a look