State of Michigan Retirement System
2501 Coolidge Road Suite 400, East Lansing, MI, 48823, UNITED STATES
Overview
State of Michigan Retirement System is a retirement program for employees, public school employees, judges, state police, and National Guard members.
- Total investments
- 9
- Lead investments
- 0
- Investments · 12mo
- 1
- Active investors
- 0
Sector focus
- Employee Benefits
- Government
- Retirement
Investment portfolio
- Lila Sciences
Participated · Series A · Sep 2025
Lila Sciences develops an AI-driven platform that trains models on scientific literature across material sciences, chemistry and life sciences and generates experimental hypotheses. The company pairs those model outputs with laboratory setups to experimentally validate and close the loop between prediction and reproducible results. Reporting says Lila aims for a domain‑crossing, general-purpose science enablement stack rather than narrowly focused tools. Financially, it has completed a reported $200 million seed, emerged from stealth last year, and closed a $350 million Series A in October that lifted its valuation above $1.3 billion. Current reporting describes Lila negotiating an approximately $2 billion financing to scale compute, inference and laboratory capacity and to accelerate partner programs. The firm's growth narrative emphasizes standardizing experiment and feedback loops to make discovery repeatable and scalable.
- Inari
Participated · Equity · Jan 2025
Inari develops seed technologies that combine AI-powered predictive design with a multiplex gene editing toolbox to deliver step-change soybean, corn and wheat products. The company is singularly focused on seed technology for large-acre crops and operates an asset-light business model intended to support, not rival, seed companies. Inari reports strong performance from its first-generation products and progress toward commercialization, generating interest from seed companies both within and outside the U.S. Financially, the company completed a $144 million fundraise and has cumulative equity raised of more than $720 million. Founded by Flagship Pioneering in 2016, Inari is based in Cambridge, Mass., with additional sites in West Lafayette, Ind., and Ghent, Belgium, and employs more than 300 people. The new capital is intended to underpin long-term growth as Inari works to bring high-performing products to market at global scale. Inari develops seeds aimed at a more sustainable, nature‑positive food system by combining AI‑powered predictive design with a multiplex gene‑editing toolbox. The company intends to use the new funds to further advance its technology platform and accelerate product commercialization. Inari has a team of more than 300 employees and is led by CEO Ponsi Trivisvavet. Founded by Flagship Pioneering in 2016, the company is based in Cambridge, MA, with additional sites in West Lafayette, Ind., and Ghent, Belgium. The business recently closed a $103M funding round, bringing its total capital raised to $575M. Inari pairs AI-powered predictive design with multiplex gene editing to engineer seeds for the commercial agriculture market. The company focuses on multiplex gene-edited seed technology and advancing product development to deliver new value to growers and supply chains. It plans to use the new capital to further its technology position and expand product development efforts. Inari completed a $124M Series E equity raise and also refinanced and upsized a loan agreement to access up to $60M in debt capital. Led by CEO Ponsi Trivisvavet, the company was founded by Flagship Pioneering and has grown to more than 230 employees. Inari is based in Cambridge, Mass., with additional sites in West Lafayette, Ind., and Ghent, Belgium. Inari has developed a platform that uses predictive design and artificial intelligence to build deep understanding of genes and to design blueprints for combinations of gene‑editing tools that enable multiple edits within a single genome. Those edits produce seeds that aim to increase crop yield while reducing agriculture's footprint. The company focuses on product development for corn and soybeans in North and South America and plans to use the new funds to accelerate advancements across its science platform and product development. Inari raised $208M in a Series D that brought its cumulative equity raised to more than $352M. The round was co‑led by Flagship Pioneering with participation from Alexandria Venture Investments, Investment Corporation of Dubai, Banque Pictet (on behalf of clients), Rivas Capital, and new investors G Squared and Pavilion Capital. Founded by Flagship Pioneering in 2016, Inari is based in Cambridge, Massachusetts, with additional sites in West Lafayette, Indiana, and Ghent, Belgium. The company is led by CEO Ponsi Trivisvavet and has a team of more than 180 employees. Inari develops next-generation seeds using genetic technologies and data science. Led by CEO Ponsi Trivisvavet, the company focuses on gene-edited crops designed to reduce the natural resources required to grow food. It intends to use recent capital to accelerate development and commercialization of those gene-edited crops. The company was founded by Flagship Pioneering in 2016. Inari is headquartered in Cambridge, Mass., with additional sites in West Lafayette, Ind., and Ghent, Belgium. The company recently completed an $89M equity raise and has secured a $45M loan facility to support its plans.
- Hoplark
Participated · Equity · Sep 2023
Indigo provides plant microbiome agricultural services designed to increase crop yield. Its core offering centers on leveraging the plant microbiome to improve agricultural productivity. The company raised $250 million of venture funding on September 15, 2023, in a round led by Flagship Pioneering. State of Michigan Retirement Systems and Lingotto also participated in the round. The article does not disclose operating metrics or other detailed financials beyond the funding amount. No future plans or product roadmap were specified in the article.
- Indigo
Participated · Equity · Sep 2023
Indigo Ag operates an integrated agtech platform that uses science and digital products to help farmers, agribusinesses, and corporations capture value from sustainability practices. The company produces agricultural carbon credits and has issued 133,000 registry-issued credits, while working on its third carbon crop and preparing enrollment for a fourth. Indigo plans to expand its Market+ Source sustainable crop program and scale a biological product pipeline of 38 new products scheduled to launch globally over the next 30 months. The company intends to use new funding to scale its science and technology to both boost farm revenues and decarbonize the planet. Indigo is led by CEO and President Ron Hovsepian and currently operates across 14 countries. The company is headquartered in Boston, MA. Indigo Ag started in 2016 with a microbe-based seed treatment and has evolved into a suite of services that aim to de-commoditize agriculture. Its offerings include Indigo Microbials, Indigo Carbon (a carbon marketplace launched in June 2019), Indigo Agronomy, Indigo Marketplace, and Indigo Transport. The company positions these lines as synergistic: reduced chemical and fertilizer use via Microbials can enable carbon payments through Indigo Carbon and better prices through Indigo Marketplace. Indigo Marketplace has reached liquidity and is experiencing rapid adoption, with 20%–30% month-over-month growth according to the CEO. Indigo operates in the US and also runs services in Argentina, Brazil, and Europe, plus a joint venture in India, and plans careful international rollouts. The company has raised new capital to scale its ecosystem of services. Indigo operates Indigo Grain Marketplace, Indigo Carbon, and Indigo Transport to de-commoditize agriculture and improve grower profitability. The Grain Marketplace is an e-commerce platform for direct grain transactions and saw month-over-month transaction growth of 50%–100% during the second half of 2019. Since its public launch in September 2018, over $300 billion worth of bids have been placed through the Grain Marketplace, and the platform has over 10,000 growers and nearly half of all U.S. buyer facilities enrolled. Indigo Carbon provides farmers with financial incentives to enrich soils while addressing climate change. The company plans to focus in 2020 on its marketplace businesses experiencing exponential growth and aims to generate positive operating cash flow near the end of 2020 and for the full year 2021. Indigo has raised approximately $850 million in total capital to date. Indigo Ag develops beneficial plant microbes, agronomic insights, and machine‑learning‑based software to boost crop yields and enable data‑driven farming. The company has leveraged its digital capabilities to build Indigo Marketplace, a platform that directly connects growers and buyers for commodity crops and facilitates testing, transportation, and payment. Marketplace supports long‑lead bids, future delivery, and basis contracts, and Indigo is licensed as a grain dealer across the 40 states in which it currently operates. In its first three and a half months the platform attracted thousands of growers and buyers; growers entered more than $6B in grain inventory and buyers entered over 4,000 bids representing more than $2B in demand. Indigo says it will use new capital to execute on its product portfolio with an emphasis on growing Marketplace. The company is headquartered in Boston, MA, with additional offices in Memphis, TN; Research Triangle Park, NC; Sydney, Australia; Buenos Aires, Argentina; and São Paulo, Brazil. Indigo Ag utilizes plant microbes to improve crop health and productivity across cotton, wheat, corn, soybeans and rice. Led by President and CEO David Perry, the company develops microbial products alongside software and data tools. The Series D funding will support global commercial expansion and continued investment in the plant microbiome and in software and data capabilities. Indigo aims to promote adoption of its microbial technology and to discover and commercialize products that increase agricultural yields while decreasing reliance on synthetic fertilizers and agricultural chemicals. The company raised additional capital as part of its Series D round, bringing the total to $203M. Founded by Flagship Pioneering, Indigo is based in Boston with commercial operations in Memphis and international offices in Sydney, Buenos Aires and São Paulo.
- Senda Biosciences
Participated · Series C · Aug 2022
Senda Biosciences is a Cambridge, MA-based company that leverages nature to program targeted, potent, and tunable medicines. Its proprietary programmable medicines platform includes an mRNA engine and an atlas of nature-derived programmable systems at the molecular level across all kingdoms of life. Using that platform, Senda is developing a new class of SendRNA™ medicines intended for infectious, genetic, metabolic, and autoimmune diseases, as well as oncology, and to advance mRNA therapeutics, vaccines, gene-editing, and protein-based therapies. The company says it programs human cells both from within and from outside to create targeted and tunable therapeutic effects. Led by CEO Guillaume Pfefer, Senda plans to use recent funding to drive further development of its platform and advance its first programs into clinical testing. The company positions its technology as accessing the full code provided by nature required to program cells. Senda Biosciences, based in Cambridge, Mass., develops medicines by harnessing molecular interactions that have evolved between humans, plants, and bacteria. Its platform enables deployment of proteins or genetic material throughout the body, tunable modulation of the immune system, and precise intervention at the point of interaction between human and non-human species. The company is led by CEO Guillaume Pfefer, Ph.D., and CSO Scott Plevy, M.D. Proceeds from the financing will be used to advance the development of the company’s platform and its therapeutic programs into clinical trials. Senda raised a $55M Series B extension, bringing total Series B funding to $98M and total funding raised to date to $143M. Flagship Pioneering, Senda’s founder, participated in the round alongside new and existing investors. Senda Biosciences combines microbiome science, computational biology, environmental genomics and AI to develop new therapeutics that act in the gastrointestinal tract with minimal systemic exposure. The company launched with $88 million in funding from Flagship Pioneering and is a 50‑person startup. Senda is the product of a merger that includes Kintai Therapeutics and three other Flagship ventures; Kintai had launched with about 60 employees and was working on ulcerative colitis and metabolic syndrome programs. Leadership includes CEO Guillaume Pfefer, a former GlaxoSmithKline executive, and CSO Scott Plevy, formerly of Synlogic and Janssen. Senda expects to ask the FDA to begin six clinical trials by the end of 2022 targeting multiple sclerosis, Parkinson’s disease, chronic kidney disease, obesity and cancer. Company executives say their medicines are designed not to be uptaken, enabling disease modification or prevention with zero systemic exposure, and they aim for greater precision than many current microbiome approaches.
Team
No current team members are available.