Coverage from POCIT, published 2024-09-26.
Kalamazoo Forward Ventures debuted as Southwest Michigan’s first Black-owned venture capital firm, backed by a $50 million commitment from limited partners and led by seven Michigan businessmen. The firm’s stated aim is to make capital reachable for founders, startups and innovators in Kalamazoo and beyond who have historically been shut out of investment networks. The seven founders are Jamauri A. Bogan, Eric B. Cunningham, Bobby J. Hopewell, Daniel S. Jefferies, Dwayne Powell Jr., Von H. Washington Jr. and Eric L. Wimbley.
Wimbley, quoted via WWMT, said the fund grew out of what the group wanted to accomplish for the community, with the dollar figure rising as the ideas did, while Bogan said the partners now see it as their job to move capital to people who have never had it. KZFV organized its investing around venture capital, real estate and Main Street businesses. Early investment targets are expected to include Glidance, an AI-powered mobility aid for people who are blind, created by a Michigan inventor.
