Kalamazoo Forward Ventures (KZFV), Southwest Michigan’s first Black-owned venture capital firm, launched Tuesday with a $50 million capital commitment. The firm, led by seven successful, community-driven men from Michigan, aims to invest in innovative startups and marginalized founders. “We came up with that fund by thinking about what we want to accomplish in the community and the ecosystem,” said Eric L.
Wimbley, CEO and Founder of First Line Risk Management and Managing Partner of KZFV. “It’s our job now as investors to get that capital to folks who traditionally never have it,” added Jamauri A. Bogan, KZFV general partner.
One example of the type of investment KZFV is looking for is Glidance, the world’s first AI-powered primary mobility aid for people with vision loss, co-founded by Amos Miller, who is blind, and Michigander Kyle Buzzard. “We’re looking for those entrepreneurs and innovators with great ideas and are currently working on our selection process,” said another KZFV general partner, CEO of Hugo Consulting. The group told News Channel 3 that they aim to focus on three key areas: venture capital, real estate, and main street funds.
Kalamazoo venture firm invests locally
“We’re really excited to get involved in these different areas and help them succeed,” said Daniel S. Jefferies, co-managing partner of KZFV’s main street capital fund.
“We’ll be very intentional in working with the community as a whole,” noted Eric B. Cunningham, former city commissioner of Kalamazoo and general partner. KZFV emphasizes that they are investors operating under separate pillars and are not an organization handing out donations.
They’re here to facilitate growth and empowerment within the community. Insights from Bobby J. Hopewell, former mayor of Kalamazoo, highlighted the potential impact on locals, suggesting that many often get left behind because no one reaches out to discover the great ideas within the community.
Through strategic investments and community engagement, KZFV hopes to build a robust ecosystem that nurtures innovation and inclusivity in Southwest Michigan.
