Kalamazoo Forward Ventures, a new $50 million investment fund, launched Tuesday as the first Black-owned venture capital firm in Southwest Michigan. The firm, composed of seven successful Michigan natives, aims to invest in promising startups, innovative projects, and marginalized founders in Kalamazoo and across the state. “We conceived this fund with a clear vision of what we wanted to achieve within the community and the ecosystem, and the ideas grew along with the fund,” said Eric L.Wimbley, CEO and Founder of First Line Risk Management and Managing Partner of KZFV’s venture capital fund. Jamauri A. Bogan, CEO and KZFV general partner, added, “It’s our responsibility to channel this capital to those who have traditionally lacked access to it.”The group of business-savvy men will focus on three key areas: venture capital, real estate, and main street funds.They aim to engage with the community and drive success in these areas. “We’re targeting entrepreneurs and innovators with significant ideas, and we’re in the process of defining our selection criteria,” noted the CEO of Hugo Consulting and another general partner of KZFV.Kalamazoo fund targets local innovationKZFV operates under distinct pillars as investors, not as an organization providing grants or donations. They stress their commitment to support and invest in the community. Former Kalamazoo Mayor Bobby J.Hopewell, who observed the local benefits of such initiatives during his tenure, remarked, “People often get left behind because no one reaches out to discover the hidden innovative ideas within the community.”The fund’s founders say their work will fill in gaps needed for businesses to thrive in Kalamazoo. Several projects are already in the works, with the fund starting with a $50 million investment. The launch event, held at the Kalamazoo Country Club, drew an audience of about 120 people.Von Washington Jr. addressed the attendees, marking the significance of the event. Eric Cunningham shared a touching scene with his baby daughter, while former Mayor Bobby Hopewell introduced the partners of the new venture, including Jamauri Bogan, Eric Wimbley, Von Washington Jr., and Dwayne Powell Jr.