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
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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.
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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.
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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.
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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
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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.
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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.
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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.
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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