Southwest Michigan has seen the debut of its first Black-owned venture capital firm, Kalamazoo Forward Ventures (KZFV).
With a $50 million commitment from limited partners, KZFV aims to empower underrepresented founders, startups, and innovators in Kalamazoo and beyond.
The firm, led by a group of seven influential men from Michigan, focuses on bridging gaps for those who have traditionally lacked access to capital.
A Mission to Uplift Marginalized Entrepreneurs
Kalamazoo Forward Ventures’ founding members are Eric L. Wimbley, CEO of First Line Risk Management; Jamauri A. Bogan, CEO of Bogan Developments; Bobby J. Hopewell, former mayor of Kalamazoo; Eric B. Cunningham; Von H. Washington Jr.; Dwayne Powell Jr.; and Daniel S. Jefferiesis.
They are driven by a collective goal: to make capital accessible to marginalized entrepreneurs.
“We came up with this fund by thinking about what we want to accomplish in the community, the ecosystem, and as the ideas grew, so did the funds,” said Wimbley, according to WWMT, reflecting on the group’s vision.
Bogan echoed the sentiment, stating, “It’s our job now as investors to get that capital to folks who traditionally never have it.”
The firm plans to allocate funds across three pillars: Venture Capital, Real Estate, and Main Street, ensuring that they can support a broad spectrum of businesses in the region.
Empowering Innovation Through Strategic Investment
KZFV’s first investments are expected to target ventures like Glidance, the world’s first AI-powered mobility aid for the visually impaired, invented by a blind Michigan resident.
“We’re looking for entrepreneurs with great ideas and are working on how that selection process will go,” Von H. Washington JR., CEO of Hugo Consulting explained.
By providing access to financial resources and expertise, KZFV is set to help launch the next wave of tech-driven innovations and community-centered businesses.
Feature Image Credit: Eric B. Cunningham, Eric L. Wimbley, Von H. Washington Jr., Dwayne Powell Jr., Bobby J. Hopewell, Jamauri A. Bogan, (not pictured) Daniel S. Jefferies
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