©2016 Michigan Economic Development Corporation

Wayne County Investment Successes Celebrated

Friday, September 22, 2000

Kathleen McMahon
(517) 335-4590

Michigan Economic Development Corporation Honors Area Organizations Michigan Economic Development Corporation officials commended several Wayne County venture capital organizations recently for their important investments at the Michigan Investment and Commercialization Success Celebration.At the ceremony, awards were distributed in four areas of commercialization success: venture capital, advanced manufacturing, life sciences and information technology.Twenty-nine organizations from throughout the state were honored.“The Wayne County winners exemplify the importance of venture capital companies to our state’s economy,” said Doug Rothwell, president and CEO of the Michigan Economic Development Corporation.“These companies have put their reputation and millions of dollars on the line to ensure the success of Michigan’s commercialization efforts.”The Detroit Investment Fund, Motor Enterprises, Inc. and Peninsula Capital Partners all of Detroit were recognized in the venture capital category.The Detroit Investment Fund focuses solely on companies in the Detroit region.In the past two years, the company has invested $11 million in Detroit.Motor Enterprises is a small business investment company that has made substantial investments in a variety of Michigan companies.Peninsula Capital Partners had invested $46.5 million in Michigan companies over the past four years. “These Wayne County companies have repeatedly proven their commitment to fostering Michigan’s commercialization efforts.We hope their proven success will help to encourage further investments in our state’s start-ups,” Rothwell said.