Plymouth Venture Partners is looking for a few good startups to invest in, but the Ann Arbor venture capital firm needs one in particular to take advantage of its executive in residence program.
Plymouth Venture Partners is specifically looking to lend Kevin Terrasi's talents to a Michigan-based company. Terrasi, a serial entrepreneur who has helped lead startups to profitable exits, is the executive for the Michigan Venture Capital Association's executive in residence program. The program is geared toward helping retain executive talent in the Great Lakes State.
"We're looking for a Michigan-based company," Terrasi says. "One that is close to commercialization and has existing revenue."
Terrasi was a senior executive and part owner at
Pump Engineering, a water supply company. He helped guide it to an acquisition in 2009. He is now an investor in Plymouth Venture Partners' recently closed investment fund worth $41 million.
Plymouth Venture Partners plans to insert Terrasi into the executive team of one of its portfolio companies later this year. The venture capital firm is evaluating potential startups and hopes to have a deal done and Terrasi in place by this spring at the earliest.
"This is based on a 12-month cycle," Terrasi says. "We're hoping to have this done within the next 12 months."
For information on participating Plymouth Venture Partners executive in residence program, click
here.
Source: Kevin Terrasi, executive in residence for Plymouth Venture Partners
Writer: Jon Zemke
Read more about Metro Detroit's growing entrepreneurial ecosystem at SEMichiganStartup.com.
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