Two years ago,
Detroit Venture Partners launched with the aim to recreate downtown Detroit into a tech hub filled with startups, entrepreneurs and investors. What is now arguably the most aggressive VC in Michigan is well on it way to accomplishing that goal.
The venture capital firm specializes in early stage investments in young tech start-ups. It's portfolio now has 15 companies, which include
Are You A Human (which is reinventing
CAPTCHA technology) and
LevelEleven (a sales motivation app). Many of them call the M@dison Building home, which is the headquarters for not only Detroit Venture Partners but the tech hub it wishes to nurture.
"We love where we are heading," says Jake Cohen, vice president of
Detroit Venture Partners. "We like the pace of investment so far. We will continue to invest capital into new companies and help our companies attract capital from outside investors as well."
Detroit Venture Partners currently employs eight people and the occasional intern. It has recently added three people, including two young up-and-comers from two new fellowship programs. It has added a member of the inaugural class of
Venture For America (think
Teach For America for college grads with entrepreneurial ambitions) and one of the first four fellows of the
Michigan Venture Fellowship Program, a program that places aspiring venture capitalists with local VCs.
"We were just opportunistic about these great programs that sprung up at a good time for us," Cohen says. "It's a great way to attract great people at a good price."
Source: Jake Cohen, vice president of Detroit Venture Partners
Writer: Jon Zemke
Read more about Metro Detroit's growing entrepreneurial ecosystem at SEMichiganStartup.com.
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