GRAND RAPIDS, Mich., Jan. 24, 2024 (GLOBE NEWSWIRE) -- A new venture capital fund, Entrepreneur Ventures (EV), today announced it has leased space at 61 Commerce Avenue in Grand Rapids, Michigan to serve as its Midwest hub. The downtown, five-story, 28,000-square-foot building in the city’s core business district will serve as office space for EV General Partner and local startup and VC executive Danny Beckett, Jr. and his team, as well as feature coworking and conference space for startups and dealmakers pitching or investing as part of the West Michigan venture capital ecosystem.
The building is also the headquarters for fintech startup TiiCKER Inc., a shareholder loyalty and engagement platform. The building is owned by Jeff Lambert, an investor in the Entrepreneur Ventures fund, founder and CEO of TiiCKER, and founder and Chairman of public relations and investor relations firm Lambert Global.
“After working at startups all over the country, I’m excited to be scaling in my hometown and driving the startup ecosystem with Entrepreneur Ventures,” said Mr. Beckett. “Grand Rapids is an energetic business environment that is committed to amping up its support to investors and fledgling companies that are increasingly looking to grow outside of traditional financial centers. This building will be the epicenter of tech and VC activity in West Michigan, mark my words, and we will reinforce that community feeling with speakers, content, events and other amenities that support entrepreneurs and investors in Michigan, the Midwest and beyond.”
Entrepreneur Ventures, headquartered in Los Angeles and led by veteran venture capital investors Danny Beckett, Jr. and Jonathan Hung, launched in late November 2023 with plans to invest up to $10 million in 150 to 200 pre-seed stage startups, primarily operating in the CPG, consumer, and B2B frontier and enterprise tech sectors. The fund is backed by Entrepreneur Media, publisher of Entrepreneur magazine and Entrepreneur.com, which is also establishing an accredited angel investor network that will give participating investors co-investment opportunities and other personalized guidance.
The company signed a multi-year lease with an option for up to 5,000 square feet and is partnering with The Right Place and its Technology Council of West Michigan to offer space, national speakers and programming to the Greater Grand Rapids region and visiting entrepreneurs and investors. The 134-year-old building is a desirable mixed-use property that blends loft ceilings, natural light, and brick and wood beam structures, which are ideal for today’s tech and professional services workers seeking modern amenities and flexible, collaborative workspaces.
“We’re thrilled for Entrepreneur Media as they continue to grow and launch their new VC arm in Grand Rapids,” said Randy Thelen, President & CEO of The Right Place. “The decision to establish their Midwest Headquarters in our region brings us one step closer to reaching our goal of becoming a leading tech hub.”
In September 2022, The Right Place launched a 10-year tech strategy, aiming to add 20,000 tech jobs, making technology 10% of the regional employment, and establishing the Greater Grand Rapids region as a vibrant tech hub. The organization has worked with several tech companies, education institutions, and community organizations to create and implement various initiatives to support this strategic plan. The Right Place believes that Entrepreneur Ventures, which is a member of the Technology Council of West Michigan, will contribute significantly to the region by supporting local entrepreneurs and tech startups.
About Entrepreneur Ventures
Entrepreneur Ventures is a venture capital fund backed by Entrepreneur Media, publisher of Entrepreneur Magazine, the leading authority on emerging companies and brands, and producer of various events and content. Entrepreneur Ventures was established to invest up to $10 million in 150 to 200 pre-seed stage startups, primarily operating in the CPG, consumer, and B2B frontier tech sectors. Led by General Partners Danny Beckett, Jr. and Jonathan Hung, Entrepreneur Ventures is headquartered in Los Angeles, with additional offices and partners in New York, San Francisco, Toronto, and Grand Rapids.
About The Right Place
The Right Place, Inc., is a regional nonprofit founded in 1985 with the mission to drive sustainable economic growth and shared prosperity for all in the Greater Grand Rapids Region. The Right Place works to achieve this mission by focusing on three core areas: People, Place, and Prosperity. The Right Place is an Accredited Economic Development Organization (AEDO) as designated by The International Economic Development Council. Find out more by visiting rightplace.org, liking us on Facebook, and following us on LinkedIn and Instagram.
Contact
Lambert
Megan Bowman
616-258-5763
mbowman@lambert.com
or
Caroline Luz
203-570-6462
cluz@lambert.com
