Southfield-based venture capital firm Ludlow Ventures has opened an office in the
M@dison Building, making the move to Detroit to be closer to downtown-based
Detroit Venture Partners.
"Being in a space with them really sold us on it," says Jonathon Triest, managing partner of
Ludlow Ventures. "Being in the middle of this entrepreneurial ecosystem is the cherry on top."
Detroit Venture Partners is arguably the most aggressive venture capital firm in Michigan, investing in more than a dozen tech-oriented start-ups. The VC is controlled in part by
Quicken Loans chairman Dan Gilbert who also turned the M@dison Building overlooking Grand Circus Park into an hub for entrepreneurs and technologists, and made it the home for Detroit Venture Partners.
Ludlow Ventures invests in early stage start-ups in the digital, Internet and technology sectors. The 2-year-old venture capital firm has 18 portfolio companies. Triest plans to add several more portfolio firms and exit a couple of existing ones this year, using the M@dison as part of its farm system for deals.
"I would be very happy if we could imitate the growth we had this last year," Triest says.
Source: Jonathon Triest, managing partner of Ludlow Ventures
Writer: Jon Zemke
Read more about Metro Detroit's growing entrepreneurial ecosystem at SEMichiganStartup.com.
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