Impact Driven.

People Focused.

2025 Annual Report

Inspired by Detroiters. Invested in What's Next.

In a year of transition, Invest Detroit leaned in, deploying $21.5 million and leveraging $280 million to support 47 projects across Detroit, delivering 110,000 square feet of new commercial and retail space, 148 housing units, and 521 jobs to the local economy.

This year, we also planted a flag. Invest Detroit moved into Jefferson Hub, a 115,000-square-foot rehabbed former school in Midtown, co-locating our organization with our impact and creating a growing home for mission-aligned partners driving neighborhood revitalization and regional innovation.

Long-awaited developments broke ground. Entrepreneurs opened doors in neighborhoods across the city. ID Ventures drove high-growth investment, including two major exits, one being the largest in the fund's 10-year history. Our Small Business Support Program completed its first full year, serving more than 100 businesses across three cohorts. Through the Motor City Contractor Fund, nearly 90 contractors received mentorship, capital, and training to grow alongside Detroit's expanding construction pipeline.

Beyond Detroit, our policy work continued to strengthen the statewide ecosystem. The Michigan CDFI Fund secured its fourth consecutive budget inclusion, bringing total statewide support to $95 million. The Michigan Innovation Fund added $60 million to the state's startup economy, with more than $10 million directed to ID Ventures. The initiative was recognized as Capital Event of the Year by the Michigan Venture Capital Association.

2025 required adaptation, but it also reinforced what we've always known: through collaboration, persistence, and Detroit's enduring resilience, the next chapter is already underway.

We are people first.

Invest Detroit

2025 look back

KEY METRICS
SINCE INCEPTION

$4.7 Billion Leveraged

18,073 jobs created or retained

1,094 projects or business supported

6,072 Housing units created

8.7 million total commercial/retail sq ft created

$661 Million Deployed

2025 HIGHLIGHTS

This year we turned bold ideas into tangible impact. Here are a few stand-out moments.

Jefferson HUb

Invest Detroit planted its flag at Jefferson Hub, a 115,000-square-foot adaptive reuse property in Midtown, creating a space to grow a community of mission-aligned organizations dedicated to neighborhood revitalization and the startups driving innovation across Michigan.

Innovation Ecosystem

Our largest ecosystem-wide win came with the signing of the Michigan Innovation Fund, bringing $60 million to the state's innovation economy — including more than $10 million directly to ID Ventures — and earning recognition as Capital Event of the Year by the Michigan Venture Capital Association.

Small Business Support

2025 marked a milestone for small business support at Invest Detroit. Our Small Business Support Program completed its first full year, delivering three cohorts and 40-plus workshops to more than 100 businesses across Detroit.

2025 By The Numbers

2025 Key Metrics Across All Programs

$21,573,945 Deployed

$280,060,703 Leveraged

47 projects and/or businesses supported

110,089 Total SQ FT of commercial/retail

148 Housing Units Created with 105 Affordable Housing Units (70% of All Units)

521 Jobs Created or Retained

84% impact population represented*

*Invest Detroit’s impact population is businesses or projects owned or developed by people of color, immigrants, and women, and startup companies based in Detroit.

2025 REAL ESTATE metrics

$8,666,410 Deployed

$52,842,748 Leveraged

9 projects and/or businesses supported

110,089 Total SQ FT of commercial/retail

148 Housing Units Created with 105 Affordable Housing Units (70% of All Units)

88% impact population represented*

*Invest Detroit’s impact population is businesses or projects owned or developed by people of color, immigrants, and women, and startup companies based in Detroit.

2025 Small Business MEtrics

$6,477,800 Deployed

$4,217,955 Leveraged

8 businesses supported

90 Jobs Created or Retained

100% impact population represented*

*Invest Detroit’s impact population is businesses or projects owned or developed by people of color, immigrants, and women, and startup companies based in Detroit.

2025 ID VENTURES MEtrics

 $3,981,284 Deployed

 $223,000,000 Leveraged

30 Companies Funded

431 Jobs Created or Retained

6 Exits

77% impact population represented*

*Invest Detroit’s impact population is businesses or projects owned or developed by people of color, immigrants, and women, and startup companies based in Detroit.

2025 By The Stories

REAL ESTATE

Arthur murray

32 apartments and 8,000 square feet of ground-floor commercial space in East English Village

Of the 32 units, 19 are reserved for households earning between 60% and 80% AMI

The Arthur Murray building has stood vacant on East Warren Avenue, but Emery Matthews saw something worth saving. The CEO of Real Estate Interests, LLC, is restoring the historic 1950s structure while adding a third story to create 32 apartments and 8,000 square feet of ground-floor commercial space in East English Village.

Of the 32 units, 19 are reserved for households earning between 60% and 80% AMI, keeping current residents on the corridor as investment grows around them. Anchoring the ground floor is Activate Detroit, a community-focused entrepreneurship organization.

Invest Detroit joined Michigan Community Capital, MEDC, LISC Detroit, and the Ebiara Fund in supporting the project, another Strategic Neighborhood Fund investment along an East Warren–Cadieux corridor already being transformed by The Ribbon, $8.8 million in streetscape improvements, and growing small business activity.

SMALL BUSINESS

Lil Love Bugs

Detroit native Irene Hamilton-Sparkman purchased a long-vacant building in the Pulaski neighborhood in late 2022

The center now serves up to 20 children, twice her previous home daycare capacity

Lil Love Bugs Daycare Center at 13513 E. Seven Mile Road is a direct response to Detroit's childcare shortage. Detroit native Irene Hamilton-Sparkman purchased a long-vacant building in the Pulaski neighborhood in late 2022 and converted it into a licensed early childhood education facility serving children from infancy through age 5.

Hamilton-Sparkman brought 23 years of childcare experience to the project, funding renovations that transformed the vacant space into a fully licensed facility. The center now serves up to 20 children, twice her previous home daycare capacity, with plans for after-school tutoring, a playground, and expanded programming already in motion.

ID VENTURES

MICRO-LAM

By the time of its acquisition, Micro-LAM had grown to nearly 90 employees

Micro-lam develops laser-assisted machining systems and ultra-precision optics for aerospace, communications, and advanced manufacturing.

Micro-LAM, founded in Portage in 2012, develops laser-assisted machining systems and ultra-precision optics for aerospace, communications, and advanced manufacturing. Its flagship OPTIMUS system combines laser energy with diamond cutting tools to produce smoother, more accurate surfaces on hard materials, a breakthrough that attracted customers and investors alike.

By the time of its acquisition, Micro-LAM had grown to nearly 90 employees across sites in Portage, Michigan, Keene, New Hampshire, and Stevenage, United Kingdom.

In July 2025, IDEX Corporation acquired Micro-LAM for $90 million, the largest return in ID Ventures history.

Strategic Neighborhood Fund

Candela

the space has been reimagined as Candela, a live music and cultural venue

the venue is positioned to serve as a gathering place for Southwest Detroit and Latino communities across Michigan

The historic Lithuanian Hall in Southwest Detroit has a new life. Built nearly a century ago as the center of Lithuanian culture in the city, the space has been reimagined as Candela. a live music and cultural venue blending Latino heritage, arts, and entertainment along the Southwest Detroit corridor.

Candela is designed as a full cultural experience, where music, food, and programming reflect the richness of the surrounding community. With a stage, strong acoustics, ground-floor retail, and flexible event space, the venue is positioned to serve as a gathering place for Southwest Detroit and Latino communities across Michigan.

2025 FINANCIALS

Invest Detroit Consolidated*

Total Assets

$321,515,144

Portfolio Investments

$157,783,602

Net Assets and Partner's Equity

$205,453,311

2025 Increase in Net Assets

$23,159,588

* Audited Financial Statements for each company consolidated into Invest Detroit available upon request

Operational
Highlights

Investment and program DEPLOYMENT

$22M

NMTC Award

$55M

Fundraising

$28M

NEW STAFF HIRES

10


Combined Portfolio Composition

ReAl Estate (65%)

$102,453,723

ID Ventures (19%)

$30,110,980

SMall Business (10%)

$16,217,832

Commercial (6%)

$9,304,173

*Financials for Invest Detroit Foundation represent draft numbers for year-end 2025.

About Invest Detroit

A STRONGER DETROIT THROUGH FOUR AREAS OF FOCUS

  • Our real estate program supports both new construction and renovation projects and encompasses our Strategic Neighborhood Fund (SNF) investments. While we continue to support projects in the Greater Downtown, it is through SNF that we expand our tools to commercial and mixed-use buildings in neighborhood catalytic commercial corridors. We support both large projects led by experienced developers that will bring affordable housing to a neighborhood, as well as projects led by emerging, local developers looking to build their portfolio—helping to ensure equitable opportunity for neighborhood development.

  • Invest Detroit’s small business program is committed to supporting both new and existing locally-owned businesses with loans that support operational and property needs. Our small business team is deeply embedded in Detroit’s small business ecosystem and dedicates an enormous number of hours each year to provide ongoing technical assistance to help our small business owners refine their plans and achieve their business goals.

  • Invest Detroit’s Commercial and Industrial program supports larger businesses with the potential to provide a significant number of jobs for Detroit residents. We continue to work with the City of Detroit, Detroit Economic Growth Corporation, and other partners to a create a strategy to better attract these large job-creators.

  • ID Ventures scales promising early-stage ventures into thriving companies that help support the state’s economy, provide jobs to local talent, and bolster Michigan’s growing startup community.

Working Together to Achieve 4 Primary Goals

  • Our neighborhoods approach focuses our lending tools, relationships, and expertise on targeted neighborhood locations that will catalyze and inspire further growth in surrounding areas. We work with residents to identify priorities and developers who are community-minded. Partnering with the City of Detroit, neighborhood leaders and associations, among others, we are working to bring proven tools into ten targeted neighborhoods through the Strategic Neighborhood Fund.

  • Increasing the population of Detroit by attracting and retaining residents means fewer vacant buildings, safer neighborhoods, and a stronger local economy. We prioritize mixed-use projects that provide affordable housing so that residents at all income levels have a place to call home.

  • Supporting businesses over a range of sectors helps to create a wide range of opportunities for Detroit residents at all stages of their education or career paths. Local businesses can provide jobs to residents without cars, cut down on commute times for busy parents, promote walkable neighborhoods, and improve the local economy. Our programs work together to support local entrepreneurs who are creating new jobs or retaining existing jobs within the city.

  • Equitable access is a thread that runs through all of our programs and goals. Our vision is a Detroit for everyone with multi-ethnic and mixed-income neighborhoods where all residents feel safe and welcome and have access to resources and opportunities. Through our real estate work we ensure that we maintain percentages of affordable units in multi-family housing, and we work to identify and support developers of color. In our small business and venture investment work, we actively seek out entrepreneurs that are persons of color, immigrants, female, or Detroit residents.

The People

Invest Detroit Board

Matthew P. Cullen - Chair
Principal and Chairman of the Board, JACK Entertainment

Roderick D. Gillum – Vice Chair
Partner, Jackson Lewis, P.C. (Retired)

Larry Brinker, Jr. 
Chief Executive Officer, Brinker

JoAnn Chàvez
Senior Vice President and Chief Legal Officer, DTE Energy

Antoine M. Garibaldi, Ph.D.
President Emeritus and Distinguished University Professor, University of Detroit Mercy

Wendy Lewis Jackson
Managing Director, Detroit, The Kresge Foundation

Michael (Mike) Land
Southeast Michigan Regional President, Huntington Bank

Former Congresswoman Brenda Lawrence

Charles G. (Chip) McClure
Chair, Board Investment Committee Managing Partner, Michigan Capital Advisors

Paul Mozak
Executive Vice President and Chief Financial Officer, Blue Cross Blue Shield of Michigan

Daniel A. Nissenbaum
Chief Executive Officer, Low Income Investment Fund

Chris Rizik
Chief Executive Officer, Renaissance Venture Capital Fund

Alan S. Schwartz
Chair, Board Audit and Finance Committee Partner and Vice Chairman, Honigman Committee

Laura Trudeau
Chair, Board Governance and Nominating Committee
Principal, Trudeau Consulting, LLC

David Blaszkiewicz
Ex-Officio Board Member
President and CEO, Invest Detroit

Paul Trulik - Secretary & Treasurer
SVP – Global NFP Division,
Quatrro Business Support Services

Donald Kunz - Board Legal Advisor
Partner, Honigman

STAFF

Mike Allan (through November 2025)
Vice President, Senior Portfolio Risk Manager

Christine Ambory
Associate Vice President, Portfolio Management

Nate Barnes
Vice President, Neighborhoods

Jason Barnett
Senior Vice President, Lending

David Blaszkiewicz
President and Chief Executive Officer

Prem Bodagala
Senior Vice President, Venture and Director, IDV

Mary Kay Buzolits
Associate Vice President, Portfolio Risk Manager

Ross Campbell
Vice President, Loan Accounting

Keona Cowan
Chief Lending Officer

Cindy Croy
Paralegal

Jacob Diroff (through August 2025)
Commercial Corridor Project Manager

Martin Dober
Senior Vice President, Venture and Managing Director, ID Ventures

Deborah Dunbar
Vice President, Portfolio Management

Derek Edwards
Senior Vice President, Lending

Lisa Fetter
Associate Vice President, Credit

Jose Figueroa
Small Business Support Coach

Elizabeth Freitas
Senior Vice President, Portfolio Management

Brittany Fritsch
Vice President, Finance and Accounting

Kayla Garner
Associate, Finance and Accounting

Jamie Geary, CPA
Chief Accounting Officer

Amber Gladney
Senior Vice President, Administration and Operations

Patricia Glaza
Executive Vice President, Venture and Managing Director, ID Ventures

Danielle Graceffa
General Counsel

Leslie Griffin
Administrative Associate, Lending

Lily Hamburger
Senior Vice President, Special Projects

Jennifer Hayes
Senior Vice President, Public Policy

Saul Hernandez
Vice President, Senior Underwriter

Damon Hodge
Vice President, Lending

Maureen İçke-Anway
Senior Vice President, Impact

Shenai Jackson
Program Manager, Motor City Contractor Fund

Kathy Kalugar
Associate Vice President, Portfolio Management

Kathi Kucharski
Vice President, Grants Administration

Siarra Langlois
Associate, Loan Accounting

Carrie Lewand-Monroe
Chief Operating Officer

Belvin Liles
Principal, ID Ventures

Samantha Marks
Office Manager & Executive Assistant

Colleen Mattia
Vice President, Credit and Special Projects

Fred Paul
Associate Director, Business Support Network

Lisa Phoenix (through September 2025)
Associate Vice President, Portfolio Management

Nicholas Pohl
Chief Credit Officer

Jeff Ponders II
Principal, Portfolio Success, ID Ventures

Lee Rawlings
Senior Vice President, Venture and Managing Director, IDV

Jermaine Ruffin
Senior Vice President, Neighborhoods

`Tember Shea
Portfolio Manager, ID Ventures

Naomi Smith
Associate Vice President, Neighborhoods

Michael R. Smith
Senior Vice President, Neighborhoods and Development Officer

Briana Taylor
Associate Lender, Lending

Cristina Thibodeau
Executive Assistant to the President and CEO

Eric Thomas
Senior Vice President, External Relations

Brittany Thompson-Johnson
Executive Assistant, Venture

Jessica Vallis
Vice President, Systems Technologies

Marcia Ventura
Senior Vice President, Lending

Mike Vieregge
Senior Vice President, Lending

Mayra Villarreal-Martinez
Small Business Support Manager

Rachel Wilson
Associate, Administration and Operations

Oscar Wu
Chief Financial Officer

Jason Zalewski
Vice President, Lending

Councils

CDE BOARD

Keona Cowan – Chair
Invest Detroit

Kenita Harris
Jefferson East, Inc.

David Howell
Detroit Economic Growth Corporation

Arthur Jemison
Detroit Housing Commission

Donald Rencher
Hudson-Webber Foundation

OVERSIGHT COUNCIL

Thomas Lakocy
J.P. Morgan Securities, LLC (Retired)

Gregory Nelson
Pulte Corporation (Retired)

David Schostak
Schostak Brothers & Co.

Aaron Seybert
The Kresge Foundation

Eliot Stark    

IDV Investment COUNCIL

Chris Rizik – Chair
Renaissance Venture Capital Fund

Dave Blaszkiewicz
Invest Detroit

Martin Dober
Invest Detroit

Adrian Fortino
Mercury Fund

Patricia Glaza
Invest Detroit

Evan Ufer
HiLand Capital

INVESTMENT COUNCIL

Anthony Batiste
LISC Detroit

Melinda Clemons
Enterprise Community Partners

Freddie DuBose
PAINIA Development Corporation

Phillip Goy
Tara Strategic Advisors LLC

Steven Hilfinger
Foley & Lardner LLP (Retired)

Jed Howbert

David Howell
Detroit Economic Growth Corporation

Joel Kellman
Dykema Gossett PLLC (Retired)

Tom Lakocy
J.P. Morgan Securities, LLC (Retired)

Gregory Mickens
Edward Jones (Retired)

Gregory Nelson
Pulte Corporation (Retired)

Michael Rhodes
JPMorgan Chase & Co.

David Schostak
Schostak Brothers & Co.

Eliot Stark

Tosha Tabron
The Kresge Foundation

Martin West
Plante Moran Realpoint Investment Advisors (Retired)

Joseph Zayance
Horizon Bank

ADVISORY COUNCIL

James S. Bernacki
Comerica Bank (Retired)

Ken Elkins (through May 2025)
Black Leaders Detroit

Stacy Esbrook
Michigan Community Capital

Sean Gray
Detroit Economic Growth Corporation

Bryan Hogle
The Kresge Foundation

George Jacobsen
William Davidson Foundation

Wendy Lewis Jackson
The Kresge Foundation

Linda Nosegbe
Gilbert Family Foundation

Michael B. Shaw
Hudson-Webber Foundation

Paul Trulik
Quatrro Business Support Services

Nathaniel L. Wallace (through May 2025) Michigan Central

David Vivio
O'Brien Construction Company

Ray Waters
Detroit Development Fund

FUNDERS

Special thanks to our community of philanthropic and corporate supporters who make this critical work possible.

Auto Club Group of Michigan

Bank of America

Community Foundation for Southeast Michigan/New Economy Initiative 

First Merchants Foundation 

Flagstar Bank

Ford Foundation

General Motors

Georgina Kish

Gilbert Family Foundation

Hudson-Webber Foundation

Huntington Bank

JPMorgan Chase Foundation

KeyBank Foundation

Laura Trudeau

Michigan Economic Development Corporation

Plante Moran

Ralph C. Wilson Jr. Foundation

Skillman Foundation