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OF DR. WENDY SADOFF
metro
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Dr. Sadoff is a board–certicied
dermatologist, treating patients
with a wide variety
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and also addressing their
Welcome Back, Magic!
NBA legend joins Detroit Venture
Partners to help rejuvenate the city.
aesthetic concerns.
She treats pediatric,
adolescent and adult patients,
and enjoys meeting the skin
care needs of the entire family .
Wen(*) Sacloir, M.D.
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16 July 28 2011
Jackie Headapohi
Mana g in g Editor
D
etroit Venture Partners,
which invests in new Detroit-
based high-tech companies,
is adding some magic to its formula
of supporting entrepreneurs who
want to rebuild the city — the addi-
tion of NBA great Earvin "Magic"
Johnson as a partner.
Johnson will join the three Metro
Detroit Jewish entrepreneurs who
founded the company last November:
Dan Gilbert, Quicken Loans founder
and chairman; Brian Hermelin,
founder of Rockbridge Growth
Equity; and Josh Linkner, founder
and chairman of ePrize.
In a press conference July 21,
Johnson, who played hoops at
Michigan State University before being
drafted by the Los Angeles Lakers,
said: "I am investing in Detroit Venture
Partners and the city of Detroit
because I want to have a positive
impact on the biggest downtown in my
home state. I'm coming back home to
help put people back to work."
DVP invests exclusively in the areas
of digital media, software, cloud corn-
putinge-commerce, marketing technol-
ogy, mobile apps, Internet and social
media. DVP is well on its way, already
investing in six of the 12 companies it
expects to fund in 2011.
Its ultimate goal: to create jobs
and provide opportunities for tal-
ented young entrepreneurs to stay
in Michigan and invest in the city.
According to Linkner, CEO and man-
aging partner of DVP, the goal is to
create 4,500 high-paying, high-tech
jobs in the city within 10 years.
"There is absolutely nothing more
important than transforming Detroit
to an exciting place for young, eager,
wealth-creating entrepreneurs to
embark on their business journeys,"
DVP partner Gilbert said.
Johnson comes to DVP with a
proven track record of success in
creating a financial renaissance in
a predominantly African American
neighborhood. Johnson's investments
in Manhattan's Harlem have helped
revitalize the community and empow-
er its residents.
"Earvin brings so much to the DVP
team — entrepreneurial experience,
a passion for Detroit and Michigan,
additional capital to fund businesses,
"I'm coming back
home to help put
people back to work."
- Magic Johnson
and the well-respected Magic brand,"
Linkner added.
Rabbi Jason Miller, president of
Access Computer Technology, an IT
and social media consulting firm in
West Bloomfield, lived near Harlem
from 1998-2001 during the time
Johnson was infusing his "magic" into
the predominately African American
area. "I am looking forward to seeing
what kind of magic he has in store for
our city here in Detroit," he said.
In addition to investing millions
into DVP, Johnson also announced that
the real estate arm of Magic Johnson
Enterprises is in talks with Gilbert's
real estate partnership, Bedrock Real
Estate Services, exploring potential
investments in downtown Detroit real
estate.
Gilbert is excited about DVP's
momentum. "We've been able to
acquire buildings and make deals with
Magic Johnson and bring entrepre-
neurial companies down here," he said.
"It's an exciting time."
Johnson also has high hopes for the
future of the city. "I love to win, and
I'm gonna tell you this, I love to win
with my money, too," he said.
"So, we're going to do everything
we can to help these great, young
entrepreneurs who already have great
ideas. We need to have them stay here
and keep that talent here, and I know
Detroit is going to come back."