Beringea is adding to both its company portfolio and staff, taking advantage of the Michigan Venture Fellowship Program to grow its office of 25 people.
"We needed more hands on the oars," says Charlie Rothstein, founder & senior managing director of
Beringea. "(Our Michigan Venture Fellows Program fellow) brings experience and great analytical ability to the team. It's a reflection that we are a growing business and we wanted to add to our team here in Michigan."
Beringea is Michigan's largest venture capital firm. It's based in Farmington Hills but also has an office in London. It make late-stage investments and has a portfolio of about 60 companies. There are a number of Michigan-based firms in that mix, including Ann Arbor-based
Molecular Imaging Research and
Mophie, a smartphone accessory maker that is hitting its stride.
"It will do $115 million in sales volume this year," Rothstein says. "It's doing fantastically well."
The Michigan Venture Fellowship Program is a new talent-placement initiative headed up by the
Michigan Venture Capital Association. This is its first year, placing four individuals looking to break into the venture capital investment sector with prominent local VCs, like Beringea and
Detroit Venture Partners.
"It's a great model that others can follow," Rothstein says. "We are using it to tap into the talent we have here in Michigan."
Source: Charlie Rothstein, founder & senior managing director of Beingea
Writer: Jon Zemke
Read more about Metro Detroit's growing entrepreneurial ecosystem at SEMichiganStartup.com.
Enjoy this story?
Sign up for free solutions-based reporting in your inbox each week.