Kalamazoo Forward Ventures (KZFV), Southwest Michigan’s first Black-owned venture capital firm, has launched with a significant $50 million capital commitment. This groundbreaking firm consists of seven accomplished men from Michigan, each driven by a strong commitment to their community. Their mission is to invest this capital into promising innovators, startups, and marginalized founders in Kalamazoo and other parts of Michigan.
Eric L. Wimbley, CEO and Founder of First Line Risk Management and Managing Partner of KZFV, emphasized the importance of building the fund with a community-driven vision. “We came up with that fund by thinking about what we want to accomplish in the community. As the ideas grew, so did the funds,” he shared. Similarly, Jamauri A. Bogan, CEO of Bogan Developments and a general partner at KZFV, highlighted the importance of providing capital to individuals who typically lack access to such resources.According to News Channel 3, one of the companies benefiting from KZFV's investment philosophy is Glidance, a startup that has created the world’s first AI-powered mobility aid for people with vision loss. Amos Miller, who is blind, co-founded the company with fellow Michigander Kyle Buzzard. Glidance’s innovative approach to supporting individuals with disabilities perfectly aligns with KZFV’s goal to back groundbreaking ideas.
The team, which also includes Von H. Washington Jr., CEO of Hugo Consulting, emphasized their commitment to identifying and supporting entrepreneurs and innovators. “We’re looking for those with great ideas, and we are working on defining the selection process,” Washington explained.
KZFV’s approach focuses on three key pillars: venture capital, real estate, and Main Street funds. Daniel S. Jefferies, founder of Newmind Group and co-managing partner of the firm’s main street capital fund, expressed excitement about their potential impact. “We’re eager to engage with the community and help foster success in these three areas,” Jefferies stated. Meanwhile, Eric B. Cunningham, a former city commissioner of Kalamazoo and general partner, emphasized their nationwide venture capital outreach while maintaining strong local ties.
While KZFV operates as a venture capital firm rather than a charity organization, its commitment to the community remains steadfast. Former Kalamazoo mayor, Bobby J. Hopewell, underscored the importance of inclusivity in this effort, noting how often people are overlooked because no one takes the time to engage with them and uncover their ideas.