Coverage from Yahoo, published 2024-09-24.
A new venture capital fund intended to spur economic growth among Kalamazoo’s underrepresented residents launched Tuesday evening at an event at the Kalamazoo Country Club, according to a WOOD TV report carried by Yahoo Finance. Kalamazoo Forward Ventures begins with a $50 million investment and comprises three separate funds that will respectively lead property development, back high-growth startups and put money into local businesses. The founders said their aim is to close gaps that keep businesses from taking root in the city.
Von Washington Jr. of Kalamazoo Forward Ventures said the group had grown tired of watching underrepresented individuals struggle to obtain capital or even basic access to education and encouragement, and that the fund wants to identify people with strong ideas and help them realize them. The report noted that several projects were already in progress at the time of the launch.
