Detroit Renaissance Venture Capital Fund makes 2nd investment

Wednesday, February 25, 2009 | Source: Concentrate
Detroit Renaissance started the Renaissance Venture Capital Fund partly as a way of helping bridge the gap between Detroit and Ann Arbor. The fund is reaching out across borders again, making its second major investment across the state.

The Detroit Renaissance Venture Capital Fund has invested $3 million the TGap Venture Capital Fund II, which is based in Kalamazoo. That's not long after Renaissance, which has offices in downtown Detroit and Ann Arbor, invested $5 million into in Ann Arbor-based Arboretum Venture Capital Fund.

The TGap makes early stage investments into information technology, medical devices and services and specialty manufacturing companies. Jack Ahrens and Pete Farner formed the fund in 2002 and have since invested in several successful Midwestern-based companies, such as Afmedica (which was recently acquired by another firm) and Brill Street.

The Renaissance VC Fund is a new venture capital fund-of-funds created by some of Michigan’s largest organizations late last year.

Source: Chris Rizik, CEO of Renaissance Venture Capital Fund
Writer: Jon Zemke
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