TLDR:
- Five venture capital firms, including Grand Ventures in Grand Rapids, formed the Great Lakes Venture Capital Association to collaborate, connect, and address common industry issues.
- The association aims to bring together venture funds investing in technology companies in the Great Lakes region to strengthen relationships, increase investments, and address challenges.
Article Summary:
A new industry association, the Great Lakes Venture Capital Association, has been formed by partners at five venture capital firms in the Great Lakes region. The goal of the association is to collaborate, share ideas, best practices, and investment prospects, as well as syndicate deals and address common industry issues. The founding partners include Camila Noordeloos from Grand Ventures in Grand Rapids, and other partners from firms in Detroit, Kentucky, and Ohio.
The association aims to enlist 50 members by the end of the year and eventually grow to 75-100 members. Through this collaboration, the founders hope to create cohesiveness among participating venture capital firms to address challenges like sourcing deal flow and increasing investments. The association plans to host a networking event in June to bring together VCs in the region.
Venture capital investments in the Great Lakes region have steadily grown over the last decade, peaking in 2021. The formation of the Great Lakes Venture Capital Association reflects the growth in VC investing across the region and the increasing attention the region is drawing nationally. The response from firms across the region to the formation of the association has been overwhelmingly positive.
