Invest Detroit Ventures’ First Capital Fund Receives Support

invest detroitInvest Detroit Ventures received philanthropic support to begin the effort to turn its First Capital Fund into an evergreen fund that will support early-stage Michigan startups for years to come.

With $3m from the Ralph C. Wilson Jr. Foundation, $2.5m from the Michigan Economic Development Corp. (MEDC), and $11m in assets funded to date, ID Ventures has launched a fund-raising effort to pool enough philanthropic support to create a sustainable source of early capital for Michigan’s diverse, under-represented entrepreneurs and technology startups committed to bolstering the local economy.

Led by David Blaszkiewicz, president and CEO, Invest Detroit is a nonprofit lender, investor and partner that supports business and real-estate projects that will ignite economic growth in Detroit and the region.
The First Capital Fund, launched in 2017 with $3.3 million in funding from the MEDC, the New Economy Initiative (NEI) and Invest Detroit, focuses on seed funding for technology startups with high-growth potential that can grow the economy and create local job opportunities.

Since 2010, Invest Detroit Ventures supports promising Michigan-based high-tech startups through investment capital and programs that strengthen the local ecosystem.



Join the discussion