A venture capital company, Oracle Capital Partners, has moved into the Guardian Building.
Co-founders David Morris, Darrin Eaton and Iva Funderberg aim to provide investment capital to expanding and upstart minority firms, says Eaton, a former Detroit Lion.
He says the firm opened its headquarters downtown for practical reasons, as well as to be part of the city's transformation. "We chose the city of Detroit to house our corporate office because first and foremost we believe with what's going on in the city with respect to what's going on with its revitalization," Eaton says. "In terms of our investment focus, the largest concentration of minority-owned businesses, whether it's black, Hispanic or Asian, is in southeastern Michigan."
Eaton says the group is looking to invest in sectors such as tech, health care, consumer products and business and commercial services. "We'll look at opportunities for everything from start-up situations all the way to growth and expansion opportunities."
Eaton says his firm has a unique opportunity here, because there are not many venture capitalists in the state who focus on minority businesses, let alone any minority-owned venture capital companies; yet, he says, "Our research demonstrated to us that there is a boatload of minority-owned companies."
He says there's a misconception that there is not a lot of growth opportunities in Southeast Michigan. The sectors they are looking to invest in show great potential for growth, he says.
"There's a whole group of companies, just under the radar, we don't hear any press on them," he says. "These are the companies that are going to be your stars going forward, that are going to fuel your economy."
Source: Darrin Eaton, co-founder, Oracle Capital Partners
Related:
| Guardian Building |
500 Griswold Ave
NE corner Griswold & Larned
|
313-963-1212
|