MadDog Ventures, based in downtown Birmingham, today announced the successful closing of its first venture capital fund, Mad Dog Venture Fund I, L.P.
MadDog Ventures is a venture capital firm that invests in companies that develop market cloud-based business applications that disrupt existing industry models and help monetize underutilized information.
MadDog Ventures’ Fund I raised a total of $26.7 million, exceeding its goal of $25 million.
“We believe that the successful application of technology to solve compelling problems in new ways is the key that unlocks unprecedented value, while also benefitting the world as a whole,” says fund manager and general partner, Peter Karmanos Jr.
“We look to partner with companies and founders across all sectors and startup stages who share this belief, and who are passionate about solving industry problems in compelling ways.”
Other fund managers include Laura Fournier and Robert I. Schostak, while Bob Cell, Paul Czarnik, and Mark Hillman are general partners.
On May 8, DBusiness magazine will honor Hillman as one of the 2018 Champions of the New Economy at a breakfast from 7:30 a.m. to 9:30 a.m. at the Gem Theatre in downtown Detroit. For more information, or to purchase tickets, click here.