We’ve written about a number of investors and nonprofits looking to attract and keep companies in Michigan as a way to help the state’s economy kick back into gear. But Detroit Venture Partners is looking to go a bit further. The brand new venture firm wants its portfolio companies to move their operations right into the heart of Detroit, in the hopes of transforming the Motor City into a vibrant startup community like Boston and San Francisco, says CEO and managing partner Josh Linkner.
“We’ll strongly encourage people to move their business into the city of Detroit,” he says. “In Boston there is a great ecosystem and we’re trying to create something similar where companies play off each other. As we fund companies, we’re trying to build something in the heart of Detroit.”
The firm officially opened its doors on November 1st, with a few other heavy hitters working alongside Linkner, who founded and ran Detroit-based interactive promotional marketing firm ePrize, before moving to a chairman role this year. Dan Gilbert, founder and chairman of Quicken Loans and majority owner of the Cleveland Cavaliers, is also on board as a general partner of DVP, as is Brian Hermelin, founder and chairman of growth equity firm Rockbridge and chairman of Active Aero, a provider of Web-based systems for air charter management. The latter two were investors in ePrize, Linkner says.
To read the full, original article click on this link: Area Entrepreneurs Launch Detroit Venture Partners To Turn Motown Into A Tech and Innovation Hub | Xconomy
Author: Erin Kutz
